Quantinno Capital Management LP Acquires 16,479 Shares of Northern Trust Co. (NASDAQ:NTRS)

Quantinno Capital Management LP boosted its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 22.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 88,317 shares of the asset manager’s stock after acquiring an additional 16,479 shares during the quarter. Quantinno Capital Management LP’s holdings in Northern Trust were worth $9,053,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake in 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 holdings in shares of 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 valued at $501,444,000 after purchasing an additional 30,908 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Northern Trust by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock valued at $386,809,000 after purchasing an additional 388,692 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Northern Trust by 7.5% in the fourth quarter. Invesco Ltd. now owns 2,885,312 shares of the asset manager’s stock valued at $295,744,000 after purchasing an additional 202,327 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Northern Trust by 1.6% in the fourth quarter. Wellington Management Group LLP now owns 2,532,401 shares of the asset manager’s stock valued at $259,571,000 after purchasing an additional 39,592 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, EVP Thomas A. South sold 3,804 shares of Northern Trust stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total value of $429,852.00. Following the transaction, the executive vice president now owns 81,794 shares in the company, valued at $9,242,722. The trade was a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Clive Bellows sold 3,300 shares of Northern Trust stock in a transaction dated 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 transaction, the executive vice president now owns 28,736 shares in the company, valued at $2,872,163.20. This trade represents a 10.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,571 shares of company stock worth $1,410,397 over the last quarter. Insiders own 0.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. UBS Group raised their target price on shares of Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a report on Monday, January 27th. 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 report on Friday, January 24th. Royal Bank of Canada cut their target price on shares of Northern Trust from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Morgan Stanley dropped their price objective on shares of Northern Trust from $136.00 to $132.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 2nd. Finally, Truist Financial dropped their price objective on shares of Northern Trust from $98.00 to $92.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Northern Trust presently has an average rating of “Hold” and an average target price of $110.83.

Northern Trust Stock Performance

NTRS stock opened at $107.47 on Friday. 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 business has a 50-day moving average price of $95.23 and a 200 day moving average price of $103.01. The company has a market capitalization of $20.91 billion, a P/E ratio of 10.99, a PEG ratio of 1.72 and a beta of 1.18. Northern Trust Co. has a 1-year low of $79.68 and a 1-year high of $114.67.

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. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.95 billion. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. As a group, equities research analysts forecast that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be paid a $0.75 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.00 annualized dividend and a yield of 2.79%. Northern Trust’s dividend payout ratio (DPR) is presently 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.