Northern Trust Co. (NASDAQ:NTRS) Shares Bought by Royal Bank of Canada

Royal Bank of Canada grew its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 60.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,497,484 shares of the asset manager’s stock after purchasing an additional 562,976 shares during the period. Royal Bank of Canada’s holdings in Northern Trust were worth $153,493,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Y.D. More Investments Ltd boosted its holdings in Northern Trust by 118.4% during the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock worth $26,000 after buying an additional 135 shares in the last quarter. Colonial Trust Co SC lifted its position in shares of Northern Trust by 6,400.0% during the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 256 shares during the period. Assetmark Inc. boosted its stake in shares of Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock worth $39,000 after acquiring an additional 317 shares in the last quarter. Brooklyn Investment Group grew its holdings 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 during the period. Finally, Coppell Advisory Solutions LLC purchased a new position in Northern Trust in the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

NTRS has been the topic of a number of research analyst reports. UBS Group boosted their target price on Northern Trust from $110.00 to $114.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Bank of America decreased their price objective on shares of Northern Trust from $123.00 to $121.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Truist Financial dropped their target price on shares of Northern Trust from $98.00 to $92.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. Morgan Stanley reduced their price target on shares of Northern Trust from $136.00 to $132.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 2nd. Finally, Citigroup lowered their price target on shares of Northern Trust from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $110.83.

Insider Buying and Selling

In related news, EVP Clive Bellows sold 3,300 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the sale, the executive vice president now directly owns 28,736 shares in the company, valued at approximately $2,872,163.20. The trade was a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas A. South sold 3,804 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total transaction of $429,852.00. Following the transaction, the executive vice president now directly owns 81,794 shares of the company’s stock, valued at $9,242,722. This trade represents a 4.44% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,571 shares of company stock worth $1,410,397. 0.77% of the stock is owned by company insiders.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $107.90 on Monday. 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 firm has a market cap of $20.99 billion, a PE ratio of 11.03, a P/E/G ratio of 1.72 and a beta of 1.18. The firm has a 50 day simple moving average of $95.44 and a 200-day simple moving average of $103.08. Northern Trust Co. has a 1-year low of $79.68 and a 1-year high of $114.67.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.05. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.95 billion. On average, equities analysts expect that Northern Trust Co. will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.00 annualized dividend and a yield of 2.78%. Northern Trust’s payout ratio is currently 27.99%.

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.