Bryce Point Capital LLC Invests $545,000 in Northern Trust Co. (NASDAQ:NTRS)

Bryce Point Capital LLC acquired a new stake in Northern Trust Co. (NASDAQ:NTRS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,319 shares of the asset manager’s stock, valued at approximately $545,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Northern Trust in the 4th quarter valued at approximately $83,550,000. KBC Group NV raised its position in Northern Trust by 201.6% in 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 in the last quarter. JPMorgan Chase & Co. lifted its holdings in Northern Trust by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock valued at $386,809,000 after acquiring an additional 388,692 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Northern Trust by 62.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 678,461 shares of the asset manager’s stock worth $69,542,000 after purchasing an additional 261,797 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Northern Trust by 136.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 380,891 shares of the asset manager’s stock worth $39,041,000 after purchasing an additional 219,614 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Trading Up 0.8 %

Northern Trust stock opened at $98.73 on Thursday. The stock has a 50-day moving average price of $106.51 and a 200 day moving average price of $103.11. Northern Trust Co. has a 52 week low of $79.32 and a 52 week high of $114.67. The stock has a market cap of $19.32 billion, a PE ratio of 10.10, a P/E/G ratio of 1.72 and a beta of 1.07. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

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 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%. Equities research analysts predict that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.75 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.00 annualized dividend and a yield of 3.04%. Northern Trust’s dividend payout ratio (DPR) is presently 30.67%.

Analysts Set New Price Targets

Several brokerages recently commented on NTRS. Royal Bank of Canada raised their price objective on shares of Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Truist Financial lifted their price target on shares of Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a research report on Friday, January 24th. Citigroup lowered their price target on Northern Trust from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Morgan Stanley reduced their price objective on Northern Trust from $136.00 to $132.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Keefe, Bruyette & Woods boosted their target price on Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and an average price target of $113.69.

Insiders Place Their Bets

In other news, EVP Thomas A. South sold 3,804 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total transaction of $429,852.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Peter Cherecwich sold 26,132 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total transaction of $2,936,191.52. Following the completion of the sale, the chief operating officer now directly owns 26,586 shares in the company, valued at $2,987,202.96. This represents a 49.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,335 shares of company stock valued at $3,970,211 in the last quarter. 0.77% of the stock is currently owned by company insiders.

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.