Harvest Fund Management Co. Ltd Purchases New Holdings in Northern Trust Co. (NASDAQ:NTRS)

Harvest Fund Management Co. Ltd purchased a new stake in Northern Trust Co. (NASDAQ:NTRS) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,714 shares of the asset manager’s stock, valued at approximately $165,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Ballentine Partners LLC increased its position in Northern Trust by 4.4% in the 4th quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager’s stock valued at $255,000 after acquiring an additional 105 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Northern Trust by 24.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,061 shares of the asset manager’s stock worth $2,286,000 after purchasing an additional 4,374 shares during the period. JPMorgan Chase & Co. increased its position in Northern Trust by 9.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock worth $386,809,000 after purchasing an additional 388,692 shares during the period. Kovitz Investment Group Partners LLC increased its position in Northern Trust by 68.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 13,765 shares of the asset manager’s stock worth $1,239,000 after purchasing an additional 5,578 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Northern Trust by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager’s stock worth $129,909,000 after purchasing an additional 8,102 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Activity at Northern Trust

In other Northern Trust news, EVP Thomas A. South sold 3,804 shares of the 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 transaction, the executive vice president now owns 81,794 shares of the company’s stock, valued at $9,242,722. This represents a 4.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider John Landers sold 900 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $111.44, for a total value of $100,296.00. Following the transaction, the insider now directly owns 7,640 shares in the company, valued at approximately $851,401.60. This represents a 10.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,335 shares of company stock valued at $3,970,211. 0.64% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NTRS has been the topic of several recent analyst reports. UBS Group boosted their target price on Northern Trust from $110.00 to $114.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Royal Bank of Canada boosted their target price on Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Truist Financial boosted their target price on Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Barclays boosted their target price on Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, Morgan Stanley decreased their price target on Northern Trust from $138.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $113.50.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $98.77 on Friday. Northern Trust Co. has a 12 month low of $79.32 and a 12 month high of $114.67. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. The business’s 50 day simple moving average is $107.42 and its 200-day simple moving average is $102.46. The firm has a market capitalization of $19.33 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. As a group, equities analysts forecast that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Friday, March 14th. Northern Trust’s payout ratio is currently 30.67%.

Northern Trust Profile

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.