Caisse DE Depot ET Placement DU Quebec Invests $13.43 Million in Northern Trust Co. (NASDAQ:NTRS)

Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Northern Trust Co. (NASDAQ:NTRS) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 131,028 shares of the asset manager’s stock, valued at approximately $13,430,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its holdings in shares of Northern Trust by 1.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,486,616 shares of the asset manager’s stock worth $767,378,000 after acquiring an additional 92,162 shares during the period. Geode Capital Management LLC grew its stake in Northern Trust by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,904,871 shares of the asset manager’s stock worth $501,444,000 after purchasing an additional 30,908 shares during the period. JPMorgan Chase & Co. raised its holdings in Northern Trust by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock worth $386,809,000 after purchasing an additional 388,692 shares in the last quarter. Invesco Ltd. lifted its position in Northern Trust by 7.5% during the fourth quarter. Invesco Ltd. now owns 2,885,312 shares of the asset manager’s stock valued at $295,744,000 after buying an additional 202,327 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Northern Trust by 1.6% in the 4th quarter. Wellington Management Group LLP now owns 2,532,401 shares of the asset manager’s stock worth $259,571,000 after buying an additional 39,592 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Price Performance

Shares of NTRS stock opened at $97.52 on Friday. The company has a market capitalization of $19.08 billion, a P/E ratio of 9.97, a P/E/G ratio of 1.72 and a beta of 1.10. The company’s 50-day simple moving average is $95.98 and its two-hundred day simple moving average is $102.84. 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 current ratio of 0.68 and a quick ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data 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 firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.95 billion. As a group, equities analysts anticipate that Northern Trust Co. will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, June 6th. Northern Trust’s payout ratio is 27.99%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NTRS shares. 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. Truist Financial reduced their price objective on Northern Trust from $98.00 to $92.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company dropped their target price on Northern Trust from $118.00 to $111.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 23rd. Royal Bank of Canada lowered their price target on Northern Trust from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Finally, Bank of America cut 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $110.83.

Insider Activity

In related news, EVP Thomas A. South sold 3,804 shares of the 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 owns 81,794 shares of the company’s stock, valued at $9,242,722. This represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jane Karpinski sold 2,262 shares of Northern Trust stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $111.33, for a total transaction of $251,828.46. Following the completion of the transaction, the executive vice president now directly owns 17,236 shares in the company, valued at $1,918,883.88. This represents a 11.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,966 shares of company stock worth $781,976. Corporate insiders own 0.77% of the company’s stock.

Northern Trust Company 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.