Renaissance Technologies LLC Acquires 104,800 Shares of Northern Trust Co. (NASDAQ:NTRS)

Renaissance Technologies LLC raised its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 26.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 508,198 shares of the asset manager’s stock after purchasing an additional 104,800 shares during the period. Renaissance Technologies LLC’s holdings in Northern Trust were worth $52,090,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Y.D. More Investments Ltd raised its position in Northern Trust by 118.4% during the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 135 shares in the last quarter. Assetmark Inc. raised its position in Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 317 shares in the last quarter. Brooklyn Investment Group raised its position in shares of Northern Trust by 51.2% in the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock worth $39,000 after acquiring an additional 128 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Northern Trust by 83.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 494 shares of the asset manager’s stock worth $51,000 after acquiring an additional 224 shares in the last quarter. Finally, Friedenthal Financial bought a new position in shares of Northern Trust in the 4th quarter worth $57,000. 83.19% of the stock is owned by institutional investors.

Insider Buying and Selling at Northern Trust

In other news, insider John Landers sold 900 shares of the business’s 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 completion of the transaction, the insider now directly owns 7,640 shares of the company’s stock, valued at $851,401.60. The trade was a 10.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Thomas A. South sold 3,804 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 81,794 shares in the company, valued at approximately $9,242,722. This trade represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,335 shares of company stock valued at $3,970,211 in the last quarter. Corporate insiders own 0.77% of the company’s stock.

Northern Trust Stock Performance

NASDAQ NTRS opened at $93.27 on Thursday. The stock has a market cap of $18.25 billion, a PE ratio of 9.54, a P/E/G ratio of 1.72 and a beta of 1.10. 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 Co. has a twelve month low of $79.32 and a twelve month high of $114.67. The stock has a fifty day simple moving average of $103.22 and a 200-day simple moving average of $102.88.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, topping 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%. Equities analysts anticipate that Northern Trust Co. will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Friday, March 14th. Northern Trust’s dividend payout ratio is currently 30.67%.

Analyst Ratings Changes

Several research analysts have recently commented on NTRS shares. Royal Bank of Canada boosted their price target on Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Evercore ISI reduced their price target on Northern Trust from $113.00 to $104.00 and set an “in-line” rating for the company in a research report on Tuesday, April 1st. StockNews.com lowered Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Morgan Stanley dropped their price target on Northern Trust from $136.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 2nd. Finally, UBS Group boosted their price objective on Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Northern Trust presently has a consensus rating of “Hold” and a consensus target price of $112.31.

Northern Trust Company 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.