Outfitter Financial LLC Purchases New Shares in Northern Trust Co. (NASDAQ:NTRS)

Outfitter Financial LLC acquired a new position in Northern Trust Co. (NASDAQ:NTRS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,000 shares of the asset manager’s stock, valued at approximately $615,000.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Northern Trust by 9.3% in the 3rd quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock worth $1,637,435,000 after buying an additional 1,542,685 shares during the last quarter. Primecap Management Co. CA boosted its position in Northern Trust by 0.5% in the third quarter. Primecap Management Co. CA now owns 7,085,117 shares of the asset manager’s stock worth $637,873,000 after purchasing an additional 38,360 shares during the last quarter. JPMorgan Chase & Co. boosted its position 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Northern Trust by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,577,091 shares of the asset manager’s stock valued at $141,986,000 after purchasing an additional 16,500 shares during the period. Finally, KBC Group NV increased its position in shares of Northern Trust by 201.6% during the 4th quarter. KBC Group NV now owns 963,811 shares of the asset manager’s stock valued at $98,791,000 after purchasing an additional 644,261 shares during the last quarter. 83.19% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Vice Chairman Steven L. Fradkin sold 9,100 shares of Northern Trust stock in a transaction on Friday, November 29th. The shares were sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the completion of the sale, the insider now directly owns 47,797 shares of the company’s stock, valued at approximately $5,305,467. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 completion of the transaction, the executive vice president now directly owns 81,794 shares in the company, valued at approximately $9,242,722. This represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,435 shares of company stock worth $4,980,311 over the last ninety days. 0.64% of the stock is owned by corporate insiders.

Northern Trust Trading Down 0.2 %

Shares of NTRS opened at $113.53 on Friday. The business’s 50-day moving average price is $107.09 and its 200-day moving average price is $99.85. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a twelve month low of $78.96 and a twelve month high of $114.67. The stock has a market cap of $22.50 billion, a PE ratio of 11.61, a P/E/G ratio of 1.73 and a beta of 1.08.

Northern Trust (NASDAQ:NTRS) last posted 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 net margin of 12.77% and a return on equity of 13.74%. On average, equities analysts forecast that Northern Trust Co. will post 8.25 EPS for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.64%. The ex-dividend date is Friday, March 14th. Northern Trust’s dividend payout ratio is 30.67%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Truist Financial increased their price target on shares of Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a research report on Friday, January 24th. UBS Group raised their price target on shares of Northern Trust from $110.00 to $114.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. The Goldman Sachs Group upped their price objective 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 raised their target price on 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 upped their price target on 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 research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $112.58.

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.