Bridgeway Capital Management LLC Invests $2.36 Million in Northern Trust Co. (NASDAQ:NTRS)

Bridgeway Capital Management LLC purchased a new stake in shares of Northern Trust Co. (NASDAQ:NTRS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 23,000 shares of the asset manager’s stock, valued at approximately $2,358,000.

Other large investors also recently bought and sold shares of the company. Juncture Wealth Strategies LLC lifted its stake in shares of Northern Trust by 2.4% in the 4th quarter. Juncture Wealth Strategies LLC now owns 4,212 shares of the asset manager’s stock valued at $432,000 after purchasing an additional 100 shares during the period. Ballentine Partners LLC raised its position in shares of Northern Trust by 4.4% in the fourth quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager’s stock worth $255,000 after acquiring an additional 105 shares during the period. Pallas Capital Advisors LLC boosted its stake in shares of Northern Trust by 1.8% during the 4th quarter. Pallas Capital Advisors LLC now owns 6,091 shares of the asset manager’s stock worth $624,000 after acquiring an additional 107 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its position in shares of Northern Trust by 2.4% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 4,774 shares of the asset manager’s stock valued at $489,000 after acquiring an additional 114 shares during the period. Finally, Brooklyn Investment Group increased its stake in shares of Northern Trust by 51.2% in the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 128 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Stock Performance

Shares of Northern Trust stock opened at $100.59 on Friday. The business’s 50 day moving average price is $94.99 and its 200 day moving average price is $102.88. The company has a market cap of $19.57 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 1.72 and a beta of 1.18. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. Northern Trust Co. has a one year low of $79.68 and a one year high of $114.67.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 EPS for the quarter, topping the consensus estimate of $1.85 by $0.05. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. On average, research analysts predict that Northern Trust Co. will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.98%. Northern Trust’s dividend payout ratio (DPR) is 27.99%.

Analyst Upgrades and Downgrades

Several brokerages have commented on NTRS. Bank of America dropped their price objective on Northern Trust from $123.00 to $121.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. StockNews.com downgraded shares of Northern Trust from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Wells Fargo & Company cut their target price on shares of Northern Trust from $118.00 to $111.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 23rd. Royal Bank of Canada decreased their price target on shares of Northern Trust from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Finally, UBS Group boosted their price objective on Northern Trust from $110.00 to $114.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Northern Trust has a consensus rating of “Hold” and a consensus target price of $110.83.

Insider Transactions at Northern Trust

In other Northern Trust news, EVP Thomas A. South sold 3,804 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total transaction of $429,852.00. Following the completion of the sale, the executive vice president now owns 81,794 shares of the company’s stock, valued at $9,242,722. This trade represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.77% of the company’s stock.

About Northern Trust

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.