72,109 Shares in Northern Trust Co. (NASDAQ:NTRS) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in shares of Northern Trust Co. (NASDAQ:NTRS) during the fourth quarter, HoldingsChannel reports. The fund acquired 72,109 shares of the asset manager’s stock, valued at approximately $7,437,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Marietta Investment Partners LLC bought a new position in Northern Trust in the fourth quarter worth about $202,000. Mizuho Securities USA LLC raised its position in shares of Northern Trust by 43.7% in the 4th quarter. Mizuho Securities USA LLC now owns 18,787 shares of the asset manager’s stock worth $1,926,000 after acquiring an additional 5,712 shares in the last quarter. Sciencast Management LP purchased a new position in shares of Northern Trust in the 4th quarter valued at approximately $2,565,000. iA Global Asset Management Inc. boosted its position in shares of Northern Trust by 6.8% during the fourth quarter. iA Global Asset Management Inc. now owns 8,509 shares of the asset manager’s stock valued at $872,000 after purchasing an additional 544 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its stake in Northern Trust by 49.2% in the fourth quarter. Teacher Retirement System of Texas now owns 359,304 shares of the asset manager’s stock worth $36,829,000 after purchasing an additional 118,544 shares during the period. 83.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Northern Trust news, EVP Thomas A. South sold 3,804 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total value of $429,852.00. Following the completion of the sale, the executive vice president now directly owns 81,794 shares in the company, valued at approximately $9,242,722. This represents a 4.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jane Karpinski sold 2,262 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $111.33, for a total value of $251,828.46. Following the transaction, the executive vice president now directly owns 17,236 shares in the company, valued at $1,918,883.88. The trade was a 11.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,335 shares of company stock worth $3,970,211 in the last three months. Corporate insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NTRS. UBS Group boosted their target price 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. The Goldman Sachs Group upped their price objective on shares of Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a report on Friday, January 24th. Truist Financial lifted their target price 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. Keefe, Bruyette & Woods upped their price target on Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a research note on Friday, January 24th. Finally, Royal Bank of Canada lifted their price objective on Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $112.85.

Northern Trust Price Performance

Shares of NTRS stock opened at $101.44 on Tuesday. The stock has a 50 day moving average price of $107.45 and a 200 day moving average price of $102.63. Northern Trust Co. has a 52-week low of $79.32 and a 52-week high of $114.67. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. The firm has a market capitalization of $19.85 billion, a P/E ratio of 10.37, a P/E/G ratio of 1.72 and a beta of 1.07.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts predict that Northern Trust Co. will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.75 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.00 annualized dividend and a yield of 2.96%. Northern Trust’s dividend payout ratio (DPR) is 30.67%.

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.