Neo Ivy Capital Management Raises Holdings in Northern Trust Co. (NASDAQ:NTRS)

Neo Ivy Capital Management boosted its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 48.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,756 shares of the asset manager’s stock after buying an additional 6,082 shares during the period. Neo Ivy Capital Management’s holdings in Northern Trust were worth $1,922,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Y.D. More Investments Ltd raised its stake in Northern Trust by 118.4% in the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock valued at $26,000 after buying an additional 135 shares during the last quarter. Colonial Trust Co SC raised its holdings in shares of Northern Trust by 6,400.0% in the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock worth $27,000 after buying an additional 256 shares during the last quarter. Assetmark Inc. raised its stake in Northern Trust by 528.3% in the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock worth $39,000 after acquiring an additional 317 shares during the last quarter. True Wealth Design LLC raised its stake in shares of Northern Trust by 84.0% in the fourth quarter. True Wealth Design LLC now owns 425 shares of the asset manager’s stock worth $44,000 after purchasing an additional 194 shares during the last quarter. Finally, Coppell Advisory Solutions LLC purchased a new position in shares of Northern Trust during the fourth quarter worth $44,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NTRS shares. Wells Fargo & Company cut their price target on Northern Trust from $118.00 to $111.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods boosted their price target on Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a research report on Friday, January 24th. Citigroup dropped their price objective on shares of Northern Trust from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Bank of America lowered their price target on Northern Trust from $123.00 to $121.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Finally, Evercore ISI lowered their price objective on shares of Northern Trust from $104.00 to $100.00 and set an “in-line” rating for the company in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $110.83.

Northern Trust Trading Up 1.0%

Shares of NTRS opened at $106.40 on Friday. Northern Trust Co. has a one year low of $79.68 and a one year high of $114.67. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. The company has a market capitalization of $20.70 billion, a P/E ratio of 10.88, a P/E/G ratio of 1.72 and a beta of 1.18. The stock has a 50-day moving average price of $96.16 and a 200 day moving average price of $103.22.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.05. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Sell-side analysts forecast that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.00 annualized dividend and a yield of 2.82%. Northern Trust’s payout ratio is presently 27.99%.

Insider Buying and Selling at Northern Trust

In other news, insider Teresa Parker sold 6,467 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $100.62, for a total transaction of $650,709.54. Following the transaction, the insider now owns 79,391 shares in the company, valued at $7,988,322.42. This represents a 7.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Clive Bellows sold 3,300 shares of the firm’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $99.95, for a total transaction of $329,835.00. Following the completion of the sale, the executive vice president now owns 28,736 shares in the company, valued at approximately $2,872,163.20. The trade was a 10.30% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.77% 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.