Elo Mutual Pension Insurance Co Increases Stake in Northern Trust Co. (NASDAQ:NTRS)

Elo Mutual Pension Insurance Co grew its position in Northern Trust Co. (NASDAQ:NTRS) by 23.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,413 shares of the asset manager’s stock after acquiring an additional 4,240 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Northern Trust were worth $2,297,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Northern Trust by 11.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 325,630 shares of the asset manager’s stock worth $33,631,000 after purchasing an additional 32,629 shares during the period. Trust Investment Advisors acquired a new position in Northern Trust during the fourth quarter worth $211,000. CoreFirst Bank & Trust purchased a new position in Northern Trust in the fourth quarter worth $131,000. Stevens Capital Management LP acquired a new stake in Northern Trust in the fourth quarter valued at $506,000. Finally, LPL Financial LLC boosted its position in shares of Northern Trust by 83.5% during the 4th quarter. LPL Financial LLC now owns 45,184 shares of the asset manager’s stock worth $4,631,000 after purchasing an additional 20,564 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NTRS has been the subject of a number of research analyst reports. Morgan Stanley cut their price target on shares of Northern Trust from $138.00 to $136.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Keefe, Bruyette & Woods lifted their price target on shares of Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a research report on Friday, January 24th. Royal Bank of Canada upped their price target on Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Citigroup reduced their price objective on Northern Trust from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Finally, Truist Financial upped their target price on Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $113.46.

Northern Trust Trading Down 3.4 %

Shares of NTRS stock opened at $97.15 on Friday. The company has a market capitalization of $19.01 billion, a price-to-earnings ratio of 9.93, a PEG 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. The firm has a 50-day moving average price of $107.04 and a 200 day moving average price of $102.88. Northern Trust Co. has a twelve month low of $79.32 and a twelve month high of $114.67.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, beating 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%. Research analysts forecast that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Friday, March 14th. Northern Trust’s dividend payout ratio (DPR) is 30.67%.

Insider Activity

In other news, EVP Thomas A. South sold 3,804 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly owns 81,794 shares of the company’s stock, valued at $9,242,722. The trade was a 4.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Landers sold 900 shares of the 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 in the company, valued at $851,401.60. This trade represents a 10.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,335 shares of company stock valued at $3,970,211 over the last quarter. Company insiders own 0.64% of the company’s stock.

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.