NEOS Investment Management LLC Has $1.11 Million Stake in Northern Trust Co. (NASDAQ:NTRS)

NEOS Investment Management LLC raised its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 29.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,863 shares of the asset manager’s stock after buying an additional 2,486 shares during the quarter. NEOS Investment Management LLC’s holdings in Northern Trust were worth $1,113,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of NTRS. Y.D. More Investments Ltd grew its holdings in Northern Trust by 118.4% during the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 135 shares during the period. Empirical Asset Management LLC bought a new position in shares of Northern Trust during the fourth quarter worth $33,000. Brooklyn Investment Group grew its holdings in shares of Northern Trust by 51.2% in the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock valued at $39,000 after buying an additional 128 shares during the period. Assetmark Inc. increased its position in shares of Northern Trust by 528.3% in the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock valued at $39,000 after buying an additional 317 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Northern Trust during the 4th quarter worth $51,000. 83.19% of the stock is owned by institutional investors.

Northern Trust Trading Down 3.4 %

Northern Trust stock opened at $97.15 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 firm has a 50-day moving average of $107.04 and a 200-day moving average of $102.88. The company has a market cap of $19.01 billion, a price-to-earnings ratio of 9.93, a P/E/G ratio of 1.72 and a beta of 1.07. Northern Trust Co. has a one year low of $79.32 and a one year 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, beating analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. On average, equities analysts expect that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The company 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 is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 3.09%. Northern Trust’s payout ratio is 30.67%.

Insiders Place Their Bets

In other news, EVP Thomas A. South sold 3,804 shares of the company’s stock in a transaction dated 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 directly owns 81,794 shares of the company’s stock, valued at approximately $9,242,722. This represents a 4.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Peter Cherecwich sold 26,132 shares of Northern Trust stock in a transaction dated 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 transaction, the chief operating officer now owns 26,586 shares of the company’s stock, valued at $2,987,202.96. The trade was a 49.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,335 shares of company stock valued at $3,970,211. 0.64% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NTRS. 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. StockNews.com cut Northern Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. UBS Group lifted their price target on shares of Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Royal Bank of Canada increased their price objective on shares of Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $113.46.

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.