Shell Asset Management Co. Has $759,000 Holdings in Northern Trust Co. (NASDAQ:NTRS)

Shell Asset Management Co. raised its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 95.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,540 shares of the asset manager’s stock after buying an additional 4,162 shares during the quarter. Shell Asset Management Co.’s holdings in Northern Trust were worth $759,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of NTRS. HB Wealth Management LLC acquired a new position in shares of Northern Trust in the fourth quarter valued at $227,000. CVA Family Office LLC bought a new stake in Northern Trust in the fourth quarter valued at $94,000. Raymond James Financial Services Advisors Inc. grew its position in Northern Trust by 59.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 11,996 shares of the asset manager’s stock valued at $1,012,000 after acquiring an additional 4,460 shares during the period. IFG Advisory LLC grew its position in Northern Trust by 1.9% in the fourth quarter. IFG Advisory LLC now owns 10,327 shares of the asset manager’s stock valued at $871,000 after acquiring an additional 188 shares during the period. Finally, Ballast Inc. grew its holdings in shares of Northern Trust by 1.1% during the fourth quarter. Ballast Inc. now owns 12,208 shares of the asset manager’s stock worth $1,030,000 after purchasing an additional 136 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Northern Trust

In other news, insider Steven L. Fradkin sold 4,097 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total transaction of $338,248.32. Following the sale, the insider now owns 46,078 shares of the company’s stock, valued at $3,804,199.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Steven L. Fradkin sold 4,097 shares of Northern Trust stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total value of $338,248.32. Following the sale, the insider now owns 46,078 shares of the company’s stock, valued at approximately $3,804,199.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Peter Cherecwich sold 12,000 shares of Northern Trust stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total value of $1,045,080.00. Following the completion of the sale, the insider now directly owns 31,471 shares in the company, valued at approximately $2,740,809.39. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on NTRS shares. Royal Bank of Canada increased their target price on Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Keefe, Bruyette & Woods decreased their target price on Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a report on Thursday, June 27th. Evercore ISI increased their target price on Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Bank of America raised their price target on Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, Jefferies Financial Group raised their price target on Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $86.75.

Northern Trust Trading Up 1.6 %

NASDAQ:NTRS opened at $89.43 on Friday. The firm has a market capitalization of $18.30 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 1.31 and a beta of 1.10. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The business’s 50-day moving average price is $84.22 and its two-hundred day moving average price is $83.47. Northern Trust Co. has a 1-year low of $62.44 and a 1-year high of $92.46.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, July 17th. The asset manager reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.03. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. Northern Trust’s revenue was up 53.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.79 earnings per share. On average, equities analysts expect that Northern Trust Co. will post 7.02 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Friday, September 6th. Northern Trust’s dividend payout ratio is currently 66.23%.

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.