DRW Securities LLC Invests $261,000 in Northern Trust Co. (NASDAQ:NTRS)

DRW Securities LLC purchased a new stake in shares of Northern Trust Co. (NASDAQ:NTRS) during the fourth quarter, Holdings Channel reports. The firm purchased 2,549 shares of the asset manager’s stock, valued at approximately $261,000.

Several other hedge funds have also recently added to or reduced their stakes in NTRS. Juncture Wealth Strategies LLC lifted its position in Northern Trust by 2.4% in the 4th quarter. Juncture Wealth Strategies LLC now owns 4,212 shares of the asset manager’s stock worth $432,000 after buying an additional 100 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of Northern Trust by 4.4% during the 4th quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager’s stock valued at $255,000 after purchasing an additional 105 shares during the last quarter. Pallas Capital Advisors LLC lifted its stake in Northern Trust by 1.8% in the fourth quarter. Pallas Capital Advisors LLC now owns 6,091 shares of the asset manager’s stock worth $624,000 after purchasing an additional 107 shares during the last quarter. Bradley Foster & Sargent Inc. CT boosted its position in Northern Trust by 2.4% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 4,774 shares of the asset manager’s stock valued at $489,000 after buying an additional 114 shares during the period. Finally, Brooklyn Investment Group increased its holdings in shares of Northern Trust by 51.2% in the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock worth $39,000 after buying an additional 128 shares during the period. Institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Down 5.7 %

Shares of Northern Trust stock opened at $87.94 on Friday. 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 company has a 50-day moving average of $102.76 and a 200 day moving average of $102.86. The firm has a market cap of $17.21 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 1.72 and a beta of 1.10.

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 return on equity of 13.74% and a net margin of 12.77%. As a group, sell-side analysts anticipate that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Friday, March 14th. Northern Trust’s dividend payout ratio is presently 30.67%.

Insider Buying and Selling at Northern Trust

In other news, insider Jason J. Tyler sold 2,237 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $112.67, for a total transaction of $252,042.79. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Peter Cherecwich sold 26,132 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total value of $2,936,191.52. Following the completion of the transaction, the chief operating officer now directly owns 26,586 shares of the company’s stock, valued at approximately $2,987,202.96. This trade represents a 49.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,335 shares of company stock worth $3,970,211. 0.77% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NTRS. Citigroup reduced their price target on Northern Trust from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Wells Fargo & Company decreased their target price on shares of Northern Trust from $119.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Friday, March 28th. Truist Financial cut their price target on shares of Northern Trust from $116.00 to $98.00 and set a “hold” rating on the stock in a report on Friday, April 4th. UBS Group upped their price objective on shares of Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Finally, Barclays raised their target price on Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. One investment 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, the company currently has a consensus rating of “Hold” and a consensus target price of $112.31.

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.