Renaissance Technologies LLC Has $52.09 Million Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Renaissance Technologies LLC raised its stake in Northern Trust Co. (NASDAQ:NTRS) by 26.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 508,198 shares of the asset manager’s stock after buying an additional 104,800 shares during the period. Renaissance Technologies LLC’s holdings in Northern Trust were worth $52,090,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd boosted its position 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 in the last quarter. Empirical Asset Management LLC acquired a new position in shares of Northern Trust during the fourth quarter worth $33,000. Brooklyn Investment Group lifted its holdings in shares of Northern Trust by 51.2% during 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 during the period. Assetmark Inc. lifted its holdings in shares of Northern Trust by 528.3% during the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock worth $39,000 after purchasing an additional 317 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Northern Trust during the fourth quarter worth $51,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Analysts Set New Price Targets

NTRS has been the topic of a number of recent research reports. UBS Group lifted their price target on shares of Northern Trust from $110.00 to $114.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. StockNews.com lowered shares of Northern Trust from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Evercore ISI dropped their target price on shares of Northern Trust from $113.00 to $104.00 and set an “in-line” rating on the stock in a report on Tuesday, April 1st. Truist Financial decreased their price target on shares of Northern Trust from $116.00 to $98.00 and set a “hold” rating for the company in a research note on Friday, April 4th. Finally, Barclays boosted their target price 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, January 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Northern Trust has an average rating of “Hold” and a consensus price target of $112.31.

Insider Activity at Northern Trust

In other news, EVP Thomas A. South sold 3,804 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total value of $429,852.00. Following the sale, the executive vice president now 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 legal filing with the SEC, which can be accessed through this link. Also, insider John Landers sold 900 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total transaction of $100,296.00. Following the completion of the sale, the insider now directly owns 7,640 shares in the company, valued at approximately $851,401.60. This represents a 10.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,335 shares of company stock valued at $3,970,211 over the last 90 days. 0.77% of the stock is owned by corporate insiders.

Northern Trust Stock Performance

Shares of NASDAQ NTRS opened at $93.27 on Thursday. The firm has a 50 day moving average of $103.22 and a 200 day moving average of $102.88. 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 market capitalization of $18.25 billion, a price-to-earnings ratio of 9.54, a price-to-earnings-growth ratio of 1.72 and a beta of 1.10. Northern Trust Co. has a 12-month low of $79.32 and a 12-month high of $114.67.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, topping 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%. On average, research analysts anticipate that Northern Trust Co. will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Friday, March 14th. Northern Trust’s payout ratio is 30.67%.

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.