Pitcairn Co. Has $2.51 Million Position in Northern Trust Co. (NASDAQ:NTRS)

Pitcairn Co. boosted its holdings in Northern Trust Co. (NASDAQ:NTRS) by 53.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,518 shares of the asset manager’s stock after buying an additional 8,567 shares during the period. Pitcairn Co.’s holdings in Northern Trust were worth $2,513,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in Northern Trust during the 4th quarter valued at $83,550,000. KBC Group NV grew its stake in shares of Northern Trust by 201.6% during the fourth quarter. KBC Group NV now owns 963,811 shares of the asset manager’s stock worth $98,791,000 after purchasing an additional 644,261 shares during the period. ExodusPoint Capital Management LP acquired a new stake in shares of Northern Trust in the 4th quarter valued at approximately $42,715,000. JPMorgan Chase & Co. grew its stake 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 valued at $386,809,000 after acquiring an additional 388,692 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in Northern Trust by 62.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 678,461 shares of the asset manager’s stock worth $69,542,000 after purchasing an additional 261,797 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Thomas A. South sold 3,804 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was 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 directly owns 81,794 shares in the company, valued at $9,242,722. This represents a 4.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Peter Cherecwich sold 26,132 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 26,586 shares in the company, valued at approximately $2,987,202.96. The trade was a 49.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,335 shares of company stock valued at $3,970,211 in the last three months. Corporate insiders own 0.77% of the company’s stock.

Northern Trust Stock Performance

Shares of NASDAQ NTRS opened at $98.73 on Thursday. The firm’s 50-day moving average price is $106.51 and its 200-day moving average price is $103.11. The company has a market cap of $19.32 billion, a PE ratio of 10.10, a PEG ratio of 1.72 and a beta of 1.07. 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 52-week low of $79.32 and a 52-week high of $114.67.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, topping 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%. As a group, analysts anticipate that Northern Trust Co. will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Friday, March 14th. Northern Trust’s dividend payout ratio (DPR) is presently 30.67%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NTRS. Keefe, Bruyette & Woods increased their price objective on Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a report on Friday, January 24th. 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 research note on Monday, January 27th. StockNews.com lowered Northern Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Evercore ISI lowered their target price on Northern Trust from $113.00 to $104.00 and set an “in-line” rating on the stock in a research note on Tuesday. Finally, Citigroup cut their target price on Northern Trust from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Northern Trust has an average rating of “Hold” and an average price target of $113.69.

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.