Taika Capital LP Invests $360,000 in Northern Trust Co. (NASDAQ:NTRS)

Taika Capital LP bought a new position in shares of Northern Trust Co. (NASDAQ:NTRS) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 3,510 shares of the asset manager’s stock, valued at approximately $360,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NTRS. Capital Performance Advisors LLP acquired a new stake in Northern Trust during the third quarter worth about $48,000. Mesirow Financial Investment Management Inc. grew its holdings in Northern Trust by 0.4% during the third quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager’s stock worth $3,212,000 after acquiring an additional 127 shares during the period. Versor Investments LP acquired a new stake in Northern Trust during the third quarter worth about $918,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in Northern Trust by 2.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 452,702 shares of the asset manager’s stock worth $40,757,000 after acquiring an additional 10,202 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Northern Trust by 67.4% during the third quarter. Victory Capital Management Inc. now owns 403,990 shares of the asset manager’s stock worth $36,371,000 after acquiring an additional 162,623 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Thomas A. South sold 3,804 shares of Northern Trust stock in a transaction that occurred 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 transaction, the executive vice president now owns 81,794 shares in the company, valued at approximately $9,242,722. This trade represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Peter Cherecwich sold 26,132 shares of Northern Trust stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total value of $2,936,191.52. Following the transaction, the chief operating officer now owns 26,586 shares in the company, valued at approximately $2,987,202.96. The trade was a 49.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,335 shares of company stock worth $3,970,211. 0.64% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NTRS has been the topic of several analyst reports. The Goldman Sachs Group raised their target price on Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a report on Friday, January 24th. Wells Fargo & Company raised their price objective on Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. UBS Group raised their price objective on Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Morgan Stanley dropped their price objective on Northern Trust from $138.00 to $136.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Truist Financial raised 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 analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Northern Trust currently has an average rating of “Hold” and an average target price of $113.50.

Northern Trust Stock Performance

Shares of NASDAQ:NTRS opened at $104.32 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. The business’s 50 day moving average price is $108.20 and its 200-day moving average price is $101.91. The firm has a market capitalization of $20.42 billion, a PE ratio of 10.67, a P/E/G ratio of 1.72 and a beta of 1.07. Northern Trust Co. has a 1 year low of $79.30 and a 1 year high of $114.67.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) 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%. As a group, 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 2.88%. Northern Trust’s payout ratio is 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.