Northern Trust Co. (NASDAQ:NTRS) Position Lifted by Mission Wealth Management LP

Mission Wealth Management LP grew its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,645 shares of the asset manager’s stock after acquiring an additional 702 shares during the period. Mission Wealth Management LP’s holdings in Northern Trust were worth $1,067,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Asset Management One Co. Ltd. increased its position in Northern Trust by 6.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 91,366 shares of the asset manager’s stock valued at $6,348,000 after acquiring an additional 5,668 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Northern Trust by 25.5% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 83,145 shares of the asset manager’s stock valued at $5,777,000 after purchasing an additional 16,900 shares during the period. Hexagon Capital Partners LLC increased its holdings in shares of Northern Trust by 306.3% during the third quarter. Hexagon Capital Partners LLC now owns 581 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 438 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Northern Trust by 1.3% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 14,841 shares of the asset manager’s stock valued at $1,031,000 after purchasing an additional 192 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Northern Trust by 7.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 16,197 shares of the asset manager’s stock worth $1,125,000 after purchasing an additional 1,076 shares during the period. Institutional investors own 83.19% of the company’s stock.

Insider Activity at Northern Trust

In related news, insider Steven L. Fradkin sold 30,392 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total transaction of $2,434,703.12. Following the completion of the sale, the insider now directly owns 55,707 shares in the company, valued at $4,462,687.77. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.64% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Morgan Stanley reissued an “underweight” rating and set a $86.00 target price (up previously from $82.00) on shares of Northern Trust in a research note on Tuesday, January 30th. Jefferies Financial Group boosted their target price on Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. TheStreet upgraded Northern Trust from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. UBS Group upped their price objective on Northern Trust from $72.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, January 9th. Finally, Royal Bank of Canada lifted their target price on Northern Trust from $82.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $84.92.

Northern Trust Stock Up 0.8 %

Shares of Northern Trust stock opened at $83.05 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Northern Trust Co. has a 1 year low of $62.44 and a 1 year high of $89.25. The stock has a 50-day moving average price of $83.86 and a 200 day moving average price of $79.92. The company has a market cap of $16.99 billion, a P/E ratio of 18.33, a P/E/G ratio of 1.18 and a beta of 1.13.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Friday, June 7th. Northern Trust’s dividend payout ratio is currently 66.23%.

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.