Avanza Fonder AB Invests $1.60 Million in Northern Trust Co. (NASDAQ:NTRS)

Avanza Fonder AB bought 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 (SEC). The fund bought 15,582 shares of the asset manager’s stock, valued at approximately $1,597,000.

Other large investors also recently modified their holdings of the company. Empirical Asset Management LLC bought a new stake in shares of Northern Trust during the fourth quarter worth $33,000. Ritholtz Wealth Management raised its holdings in Northern Trust by 72.5% during the 4th quarter. Ritholtz Wealth Management now owns 9,348 shares of the asset manager’s stock worth $958,000 after purchasing an additional 3,928 shares during the last quarter. Park Avenue Securities LLC bought a new position in shares of Northern Trust in the 4th quarter valued at about $212,000. Kathmere Capital Management LLC acquired a new stake in shares of Northern Trust during the 4th quarter worth approximately $273,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Northern Trust by 4.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,939 shares of the asset manager’s stock worth $404,000 after buying an additional 166 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on NTRS. The Goldman Sachs Group lowered Northern Trust from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $84.00 to $82.00 in a research report on Thursday, September 26th. Barclays lifted their price target on shares of Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Evercore ISI upped their price objective on shares of Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Morgan Stanley dropped their price target on Northern Trust from $127.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods raised their target price on shares of Northern Trust from $100.00 to $113.00 and gave the stock a “market perform” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $107.17.

Insider Transactions at Northern Trust

In other news, Vice Chairman Steven L. Fradkin sold 9,100 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was 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 owns 47,797 shares in the company, valued at $5,305,467. The trade was a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Thomas A. South sold 5,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $105.80, for a total value of $529,000.00. Following the transaction, the executive vice president now owns 49,756 shares in the company, valued at approximately $5,264,184.80. This trade represents a 9.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,151 shares of company stock worth $8,489,889. 0.64% of the stock is owned by insiders.

Northern Trust Stock Performance

NTRS opened at $106.87 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a market cap of $21.18 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.06 and a beta of 1.08. Northern Trust Co. has a 12-month low of $76.67 and a 12-month high of $111.87. The business has a 50 day moving average of $105.73 and a 200-day moving average of $95.73.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Friday, December 6th. Northern Trust’s payout ratio is presently 37.31%.

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.