Meeder Asset Management Inc. Raises Holdings in Northern Trust Co. (NASDAQ:NTRS)

Meeder Asset Management Inc. lifted its holdings in Northern Trust Co. (NASDAQ:NTRS) by 28.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 128,396 shares of the asset manager’s stock after purchasing an additional 28,615 shares during the quarter. Northern Trust comprises 0.9% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 24th biggest holding. Meeder Asset Management Inc.’s holdings in Northern Trust were worth $13,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bridgewater Associates LP boosted its position in shares of Northern Trust by 294.2% during the 3rd quarter. Bridgewater Associates LP now owns 18,648 shares of the asset manager’s stock worth $1,679,000 after purchasing an additional 13,918 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in Northern Trust by 1.1% during the third quarter. Public Sector Pension Investment Board now owns 35,191 shares of the asset manager’s stock worth $3,168,000 after buying an additional 400 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Northern Trust by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,577,091 shares of the asset manager’s stock worth $141,986,000 after buying an additional 16,500 shares during the period. Rockefeller Capital Management L.P. increased its holdings in Northern Trust by 5.5% in the third quarter. Rockefeller Capital Management L.P. now owns 26,830 shares of the asset manager’s stock valued at $2,416,000 after buying an additional 1,405 shares in the last quarter. Finally, Verition Fund Management LLC lifted its position in shares of Northern Trust by 327.1% during the 3rd quarter. Verition Fund Management LLC now owns 28,510 shares of the asset manager’s stock valued at $2,567,000 after acquiring an additional 21,835 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Trading Down 3.4 %

Shares of NTRS stock opened at $97.15 on Monday. The firm has a market cap of $19.01 billion, a P/E ratio of 9.93, a PEG ratio of 1.72 and a beta of 1.07. Northern Trust Co. has a 1-year low of $79.32 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 firm’s 50-day simple moving average is $107.04 and its 200-day simple moving average is $102.99.

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

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, March 14th. Northern Trust’s dividend payout ratio (DPR) is currently 30.67%.

Insiders Place Their Bets

In other news, EVP Jane Karpinski sold 2,262 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $111.33, for a total transaction of $251,828.46. Following the completion of the sale, the executive vice president now owns 17,236 shares in the company, valued at approximately $1,918,883.88. The trade was a 11.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Landers sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total transaction of $100,296.00. Following the completion of the transaction, the insider now owns 7,640 shares in the company, valued at $851,401.60. The trade was a 10.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,335 shares of company stock worth $3,970,211 over the last three months. 0.77% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Truist Financial upped their price target on Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a report on Friday, January 24th. UBS Group raised their price target on Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Barclays boosted their price objective on shares of Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods lifted their target price on shares of Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company lowered their price target on shares of Northern Trust from $119.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Northern Trust presently has a consensus rating of “Hold” and a consensus price target of $113.46.

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.