PGGM Investments Invests $3.23 Million in Northern Trust Co. (NASDAQ:NTRS)

PGGM Investments acquired a new stake in shares of Northern Trust Co. (NASDAQ:NTRS) during the fourth quarter, Holdings Channel.com reports. The fund acquired 31,507 shares of the asset manager’s stock, valued at approximately $3,229,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd boosted its stake in shares of Northern Trust by 118.4% during the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock valued at $26,000 after buying an additional 135 shares during the period. Empirical Asset Management LLC acquired a new position in Northern Trust in the 4th quarter worth about $33,000. Brooklyn Investment Group raised its stake in shares of Northern Trust by 51.2% during the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock worth $39,000 after purchasing an additional 128 shares in the last quarter. Assetmark Inc. raised its stake in shares of Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock worth $39,000 after purchasing an additional 317 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Northern Trust during the 4th quarter valued at about $51,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Barclays raised their price objective on shares of Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. UBS Group raised their price target on shares of Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Wells Fargo & Company increased their target price on shares of Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. The Goldman Sachs Group raised their target price on Northern Trust from $92.00 to $102.00 and gave the company a “sell” rating in a report on Friday, January 24th. Finally, Truist Financial increased their price objective on Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $113.50.

Insider Buying and Selling

In related news, insider Jason J. Tyler sold 2,237 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $112.67, for a total value of $252,042.79. Following the completion of the transaction, the insider now directly owns 58,449 shares in the company, valued at approximately $6,585,448.83. This represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thomas A. South sold 3,804 shares of Northern Trust 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 sale, the executive vice president now owns 81,794 shares in the company, valued at $9,242,722. This represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,335 shares of company stock valued at $3,970,211 over the last three months. 0.64% of the stock is owned by corporate insiders.

Northern Trust Stock Down 2.2 %

Shares of NTRS stock opened at $96.09 on Friday. Northern Trust Co. has a 12 month low of $79.30 and a 12 month high of $114.67. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The firm has a market cap of $18.80 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07. The stock has a 50 day moving average of $107.85 and a 200-day moving average of $102.00.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, beating the consensus estimate of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. On average, equities analysts predict that Northern Trust Co. will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Friday, March 14th. Northern Trust’s payout ratio 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.