Friedenthal Financial Takes $57,000 Position in Northern Trust Co. (NASDAQ:NTRS)

Friedenthal Financial purchased a new position in Northern Trust Co. (NASDAQ:NTRS) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 558 shares of the asset manager’s stock, valued at approximately $57,000.

Several other institutional investors also recently modified their holdings of the business. JPMorgan Chase & Co. grew 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 worth $386,809,000 after purchasing an additional 388,692 shares during the period. Kovitz Investment Group Partners LLC grew its stake in shares of Northern Trust by 68.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 13,765 shares of the asset manager’s stock worth $1,239,000 after buying an additional 5,578 shares during the last quarter. Martingale Asset Management L P increased its position in Northern Trust by 8.4% during the 3rd quarter. Martingale Asset Management L P now owns 59,118 shares of the asset manager’s stock valued at $5,322,000 after buying an additional 4,564 shares in the last quarter. Verition Fund Management LLC raised its stake in Northern Trust by 327.1% during the third quarter. Verition Fund Management LLC now owns 28,510 shares of the asset manager’s stock valued at $2,567,000 after buying an additional 21,835 shares during the last quarter. Finally, Magnetar Financial LLC bought a new stake in Northern Trust in the second quarter worth $3,666,000. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Stock Performance

Shares of NTRS traded up $0.86 on Monday, reaching $100.32. The company’s stock had a trading volume of 1,092,372 shares, compared to its average volume of 988,688. The stock’s 50 day simple moving average is $105.67 and its two-hundred day simple moving average is $95.17. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $19.89 billion, a P/E ratio of 12.48, a PEG ratio of 1.18 and a beta of 1.08. Northern Trust Co. has a 12-month low of $76.67 and a 12-month high of $111.87.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.99%. Northern Trust’s dividend payout ratio (DPR) is 37.31%.

Insider Buying and Selling

In other Northern Trust news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $100.50, for a total value of $2,801,337.00. Following the completion of the transaction, the insider now directly owns 46,078 shares in the company, valued at $4,630,839. This represents a 37.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thomas A. South sold 5,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $105.80, for a total transaction of $529,000.00. Following the sale, the executive vice president now owns 49,756 shares in the company, valued at $5,264,184.80. The trade was a 9.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,151 shares of company stock valued at $8,489,889. 0.64% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on NTRS shares. UBS Group increased their price objective on shares of Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Morgan Stanley reduced their price target on shares of Northern Trust from $127.00 to $125.00 and set an “equal weight” rating for the company in a research report on Friday, January 3rd. Truist Financial assumed coverage on Northern Trust in a research report on Tuesday, January 7th. They issued a “hold” rating and a $110.00 price objective on the stock. StockNews.com upgraded Northern Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Finally, Barclays increased their price objective on Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $107.17.

Northern Trust 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.