Wealthfront Advisers LLC Has $1.91 Million Stake in Northern Trust Co. (NASDAQ:NTRS)

Wealthfront Advisers LLC raised its holdings in Northern Trust Co. (NASDAQ:NTRS) by 209.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,644 shares of the asset manager’s stock after purchasing an additional 12,614 shares during the quarter. Wealthfront Advisers LLC’s holdings in Northern Trust were worth $1,911,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of NTRS. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Northern Trust by 2.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 452,702 shares of the asset manager’s stock worth $40,757,000 after acquiring an additional 10,202 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Northern Trust by 67.4% during the third quarter. Victory Capital Management Inc. now owns 403,990 shares of the asset manager’s stock worth $36,371,000 after purchasing an additional 162,623 shares during the period. Haverford Trust Co grew its stake in Northern Trust by 5.9% in the third quarter. Haverford Trust Co now owns 2,904 shares of the asset manager’s stock valued at $261,000 after acquiring an additional 163 shares during the period. Huntington National Bank grew its stake in Northern Trust by 17.1% in the third quarter. Huntington National Bank now owns 2,133 shares of the asset manager’s stock valued at $192,000 after acquiring an additional 311 shares during the period. Finally, Metis Global Partners LLC grew its stake in Northern Trust by 4.8% in the third quarter. Metis Global Partners LLC now owns 13,527 shares of the asset manager’s stock valued at $1,218,000 after acquiring an additional 615 shares during the period. Institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling

In other news, COO Peter Cherecwich sold 26,132 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total value of $2,936,191.52. Following the completion of the sale, the chief operating officer now directly owns 26,586 shares of the company’s stock, valued at $2,987,202.96. This trade represents a 49.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Thomas A. South sold 3,804 shares of the firm’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 value 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. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,335 shares of company stock worth $3,970,211. Corporate insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NTRS shares. Barclays boosted their target price 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. The Goldman Sachs Group boosted their target price on Northern Trust from $92.00 to $102.00 and gave the company a “sell” rating in a research note on Friday, January 24th. Royal Bank of Canada boosted their target price on Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Morgan Stanley decreased their target price on Northern Trust from $138.00 to $136.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Finally, Truist Financial boosted their target price on Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $113.50.

Northern Trust Stock Performance

NTRS opened at $97.88 on Friday. Northern Trust Co. has a 52-week low of $79.32 and a 52-week high of $114.67. The firm has a market capitalization of $19.15 billion, a PE ratio of 10.01, a PEG ratio of 1.72 and a beta of 1.07. 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 business’s 50-day simple moving average is $107.74 and its 200 day simple moving average is $102.06.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts expect that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.00 annualized dividend and a yield of 3.06%. Northern Trust’s payout ratio is presently 30.67%.

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.