Pictet Asset Management Holding SA Purchases 6,043 Shares of Northern Trust Co. (NASDAQ:NTRS)

Pictet Asset Management Holding SA increased its holdings in Northern Trust Co. (NASDAQ:NTRS) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,208 shares of the asset manager’s stock after acquiring an additional 6,043 shares during the period. Pictet Asset Management Holding SA owned about 0.07% of Northern Trust worth $13,756,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NTRS. Y.D. More Investments Ltd grew its stake in Northern Trust by 118.4% in the 4th 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. Assetmark Inc. grew its position in Northern Trust by 528.3% during the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock valued at $39,000 after buying an additional 317 shares during the period. Brooklyn Investment Group increased its holdings in Northern Trust by 51.2% during the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock worth $39,000 after buying an additional 128 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Northern Trust by 83.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 494 shares of the asset manager’s stock worth $51,000 after buying an additional 224 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in Northern Trust in the fourth quarter worth about $57,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Morgan Stanley decreased their price target on shares of Northern Trust from $138.00 to $136.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Keefe, Bruyette & Woods boosted their target price on Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a research note on Friday, January 24th. Wells Fargo & Company cut their price target on Northern Trust from $119.00 to $118.00 and set an “equal weight” rating for the company in a research note on Friday, March 28th. Royal Bank of Canada lifted their price objective on Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Finally, Truist Financial increased their target price on shares of Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $113.54.

Northern Trust Stock Down 0.7 %

NTRS opened at $97.95 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. Northern Trust Co. has a one year low of $79.32 and a one year high of $114.67. The firm has a market capitalization of $19.17 billion, a P/E ratio of 10.02, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07. The company has a fifty day moving average price of $106.68 and a 200-day moving average price of $103.14.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share 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%. Equities research analysts expect that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.00 annualized dividend and a yield of 3.06%. Northern Trust’s payout ratio is presently 30.67%.

Insiders Place Their Bets

In other Northern Trust news, insider Jason J. Tyler sold 2,237 shares of Northern Trust stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $112.67, for a total transaction of $252,042.79. Following the completion of the sale, the insider now owns 58,449 shares of the company’s stock, valued at $6,585,448.83. The trade was a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thomas A. South sold 3,804 shares of the 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 transaction, the executive vice president now owns 81,794 shares in the company, valued at $9,242,722. This trade represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,335 shares of company stock valued at $3,970,211 in the last quarter. Corporate insiders own 0.77% of the company’s stock.

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.