Connor Clark & Lunn Investment Management Ltd. Purchases New Position in Northern Trust Co. (NASDAQ:NTRS)

Connor Clark & Lunn Investment Management Ltd. purchased a new position 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 institutional investor purchased 13,231 shares of the asset manager’s stock, valued at approximately $1,356,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Y.D. More Investments Ltd grew its holdings in shares of Northern Trust by 118.4% during the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock worth $26,000 after acquiring an additional 135 shares during the period. Empirical Asset Management LLC purchased a new stake in Northern Trust in the fourth quarter worth $33,000. Brooklyn Investment Group raised its holdings in 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 purchasing an additional 128 shares in the last quarter. Assetmark Inc. lifted its position in Northern Trust by 528.3% during the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock valued at $39,000 after buying an additional 317 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in Northern Trust during the fourth quarter valued at $51,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Stock Up 1.0 %

NTRS opened at $99.27 on Thursday. The stock has a market capitalization of $19.43 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 1.72 and a beta of 1.07. The firm has a 50 day moving average price of $107.51 and a 200-day moving average price of $102.34. Northern Trust Co. has a twelve month low of $79.32 and a twelve month high of $114.67. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. Equities research analysts forecast that Northern Trust Co. will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.02%. Northern Trust’s dividend payout ratio is currently 30.67%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Truist Financial increased their price target on shares of Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods raised their target price on shares of Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a research note on Friday, January 24th. Royal Bank of Canada lifted their target price on shares of Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, January 24th. The Goldman Sachs Group upped their price target on Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a research note on Friday, January 24th. Finally, Barclays lifted their price objective on Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $113.50.

Insider Activity

In other Northern Trust news, EVP Thomas A. South sold 3,804 shares of the company’s stock in a transaction that occurred 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 approximately $9,242,722. This represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason J. Tyler sold 2,237 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 58,449 shares in the company, valued at $6,585,448.83. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,335 shares of company stock valued at $3,970,211 in the last quarter. 0.64% of the stock is currently owned by insiders.

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.