InvesTrust Invests $7.61 Million in Northern Trust Co. (NASDAQ:NTRS)

InvesTrust bought a new stake in Northern Trust Co. (NASDAQ:NTRS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 74,165 shares of the asset manager’s stock, valued at approximately $7,608,000. Northern Trust accounts for about 2.1% of InvesTrust’s portfolio, making the stock its 16th largest position.

A number of other hedge funds also recently modified their holdings of the business. Neville Rodie & Shaw Inc. acquired a new stake in Northern Trust in the 4th quarter valued at $256,000. Nordea Investment Management AB increased its position in shares of Northern Trust by 6.6% in the fourth quarter. Nordea Investment Management AB now owns 15,345 shares of the asset manager’s stock valued at $1,576,000 after acquiring an additional 954 shares during the last quarter. Everence Capital Management Inc. raised its holdings in Northern Trust by 144.6% during the fourth quarter. Everence Capital Management Inc. now owns 14,937 shares of the asset manager’s stock worth $1,531,000 after acquiring an additional 8,830 shares in the last quarter. GAMMA Investing LLC boosted its position in Northern Trust by 18.9% during the fourth quarter. GAMMA Investing LLC now owns 4,268 shares of the asset manager’s stock valued at $437,000 after purchasing an additional 677 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in Northern Trust by 34.9% in the fourth quarter. Versant Capital Management Inc now owns 684 shares of the asset manager’s stock valued at $70,000 after purchasing an additional 177 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Buying and Selling

In other news, COO Peter Cherecwich sold 16,153 shares of Northern Trust stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the transaction, the chief operating officer now owns 4,397 shares in the company, valued at approximately $462,476.46. The trade was a 78.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of Northern Trust stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $100.50, for a total value of $2,801,337.00. Following the transaction, the insider now directly owns 46,078 shares in the company, valued at $4,630,839. The trade was a 37.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,151 shares of company stock worth $8,489,889 in the last three months. 0.64% of the stock is owned by corporate insiders.

Northern Trust Price Performance

Shares of Northern Trust stock traded down $0.87 during trading on Wednesday, reaching $101.88. 847,935 shares of the company’s stock were exchanged, compared to its average volume of 898,909. The firm’s 50-day moving average price is $105.63 and its 200 day moving average price is $94.78. The company has a market cap of $20.19 billion, a P/E ratio of 12.67, a PEG ratio of 1.18 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust Co. has a 1-year low of $76.67 and a 1-year high of $111.87.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 6th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is presently 37.31%.

Analyst Ratings Changes

Several research firms have issued reports on NTRS. Barclays upped their price target on shares of Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Monday. StockNews.com raised Northern Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. UBS Group increased their price objective on Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Bank of America boosted their target price on shares of Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given 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.