Quent Capital LLC Boosts Stake in Northern Trust Co. (NASDAQ:NTRS)

Quent Capital LLC raised its position in Northern Trust Co. (NASDAQ:NTRS) by 158.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 934 shares of the asset manager’s stock after purchasing an additional 573 shares during the quarter. Quent Capital LLC’s holdings in Northern Trust were worth $96,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Northern Trust by 9.3% during the third quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock worth $1,637,435,000 after acquiring an additional 1,542,685 shares during the period. KBC Group NV increased its position in shares of Northern Trust by 201.6% during the fourth quarter. KBC Group NV now owns 963,811 shares of the asset manager’s stock worth $98,791,000 after acquiring an additional 644,261 shares during the period. JPMorgan Chase & Co. increased its position in shares of Northern Trust by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock worth $386,809,000 after acquiring an additional 388,692 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of Northern Trust by 62.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 678,461 shares of the asset manager’s stock worth $69,542,000 after acquiring an additional 261,797 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Northern Trust by 93,421.2% during the third quarter. International Assets Investment Management LLC now owns 185,172 shares of the asset manager’s stock worth $152,194,000 after acquiring an additional 184,974 shares during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NTRS. The Goldman Sachs Group raised their target price on shares of Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a research report on Friday, January 24th. UBS Group lifted their price objective on shares of Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Truist Financial lifted their price objective on shares of Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a report on Friday, January 24th. Morgan Stanley cut their price objective on shares of Northern Trust from $127.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday, January 3rd. Finally, Barclays lifted their price objective on shares of Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $112.58.

Northern Trust Trading Down 0.3 %

NASDAQ NTRS opened at $110.10 on Thursday. Northern Trust Co. has a 1 year low of $76.67 and a 1 year 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 company has a fifty day moving average of $106.48 and a 200 day moving average of $98.82. The company has a market capitalization of $21.82 billion, a PE ratio of 11.26, a P/E/G ratio of 1.74 and a beta of 1.08.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. Research analysts forecast that Northern Trust Co. will post 8.2 earnings per share for the current year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.75 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 2.72%. Northern Trust’s payout ratio is 30.67%.

Insider Buying and Selling at Northern Trust

In other news, Vice Chairman Steven L. Fradkin sold 9,100 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the completion of the sale, the insider now owns 47,797 shares of the company’s stock, valued at $5,305,467. The trade was a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jason J. Tyler sold 2,237 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $112.67, for a total transaction of $252,042.79. Following the sale, the insider now directly owns 58,449 shares of the company’s stock, valued at $6,585,448.83. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,631 shares of company stock valued at $4,550,459. Corporate insiders own 0.64% of the company’s stock.

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.