Horizon Investment Services LLC Takes $998,000 Position in Northern Trust Co. (NASDAQ:NTRS)

Horizon Investment Services LLC acquired a new position in Northern Trust Co. (NASDAQ:NTRS) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,738 shares of the asset manager’s stock, valued at approximately $998,000.

A number of other hedge funds also recently bought and sold shares of the company. DnB Asset Management AS grew its stake in shares of Northern Trust by 0.6% during the 4th quarter. DnB Asset Management AS now owns 38,982 shares of the asset manager’s stock valued at $3,996,000 after purchasing an additional 242 shares during the period. Pictet Asset Management Holding SA grew its position in Northern Trust by 4.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 134,208 shares of the asset manager’s stock valued at $13,756,000 after buying an additional 6,043 shares during the period. New Age Alpha Advisors LLC purchased a new stake in Northern Trust during the fourth quarter valued at approximately $1,051,000. Norges Bank purchased a new stake in Northern Trust during the fourth quarter valued at approximately $83,550,000. Finally, NEOS Investment Management LLC raised its position in Northern Trust by 29.7% in the fourth quarter. NEOS Investment Management LLC now owns 10,863 shares of the asset manager’s stock worth $1,113,000 after acquiring an additional 2,486 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Ratings Changes

NTRS has been the subject of several analyst reports. Royal Bank of Canada upped their price objective on Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Wells Fargo & Company cut their price objective on Northern Trust from $119.00 to $118.00 and set an “equal weight” rating for the company in a research note on Friday. Morgan Stanley reduced their target price on shares of Northern Trust from $138.00 to $136.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Citigroup dropped their price target on shares of Northern Trust from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Finally, Truist Financial raised their price objective 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. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $113.46.

Insider Activity

In related news, EVP Jane Karpinski sold 2,262 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $111.33, for a total transaction of $251,828.46. Following the sale, the executive vice president now owns 17,236 shares in the company, valued at approximately $1,918,883.88. This represents a 11.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jason J. Tyler sold 2,237 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $112.67, for a total transaction of $252,042.79. Following the transaction, the insider now owns 58,449 shares in the company, valued at $6,585,448.83. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,335 shares of company stock worth $3,970,211. 0.64% of the stock is currently owned by corporate insiders.

Northern Trust Price Performance

NASDAQ:NTRS opened at $97.15 on Friday. The company has a market capitalization of $19.01 billion, a P/E ratio of 9.93, a P/E/G ratio of 1.72 and a beta of 1.07. The business’s 50-day moving average is $107.04 and its 200 day moving average is $102.78. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a 12 month low of $79.32 and a 12 month high of $114.67.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, beating 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%. On average, equities research analysts forecast that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.75 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.09%. Northern Trust’s dividend payout ratio (DPR) is presently 30.67%.

Northern Trust 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.