Mizuho Securities USA LLC Increases Position in Northern Trust Co. (NASDAQ:NTRS)

Mizuho Securities USA LLC increased its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 43.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 18,787 shares of the asset manager’s stock after acquiring an additional 5,712 shares during the period. Mizuho Securities USA LLC’s holdings in Northern Trust were worth $1,926,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Juncture Wealth Strategies LLC boosted its stake in shares of Northern Trust by 2.4% during the 4th quarter. Juncture Wealth Strategies LLC now owns 4,212 shares of the asset manager’s stock worth $432,000 after acquiring an additional 100 shares in the last quarter. Ballentine Partners LLC raised its holdings in Northern Trust by 4.4% during the fourth quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager’s stock worth $255,000 after purchasing an additional 105 shares during the last quarter. Pallas Capital Advisors LLC boosted its position in Northern Trust by 1.8% during the fourth quarter. Pallas Capital Advisors LLC now owns 6,091 shares of the asset manager’s stock worth $624,000 after purchasing an additional 107 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its holdings in Northern Trust by 2.4% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 4,774 shares of the asset manager’s stock valued at $489,000 after purchasing an additional 114 shares during the last quarter. Finally, Brooklyn Investment Group increased its position in shares of Northern Trust by 51.2% in the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock valued at $39,000 after buying an additional 128 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider John Landers sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total value of $100,296.00. Following the transaction, the insider now owns 7,640 shares in the company, valued at approximately $851,401.60. This trade represents a 10.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jane Karpinski sold 2,262 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $111.33, for a total value of $251,828.46. Following the completion of the sale, the executive vice president now directly owns 17,236 shares of the company’s stock, valued at $1,918,883.88. The trade was a 11.60 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,335 shares of company stock valued at $3,970,211. 0.64% of the stock is currently owned by company insiders.

Northern Trust Stock Up 2.7 %

Shares of NASDAQ:NTRS opened at $101.44 on Tuesday. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market cap of $19.85 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 1.72 and a beta of 1.07. The stock’s 50-day moving average price is $107.45 and its two-hundred day moving average price is $102.63. Northern Trust Co. has a 12-month low of $79.32 and a 12-month high of $114.67.

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

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued 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 dividend yield of 2.96%. Northern Trust’s payout ratio is 30.67%.

Wall Street Analysts Forecast Growth

NTRS has been the topic of a number of research reports. The Goldman Sachs Group increased their price objective on shares of Northern Trust from $92.00 to $102.00 and gave the company a “sell” rating in a research note on Friday, January 24th. Truist Financial increased their price target 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. Morgan Stanley cut their price objective on Northern Trust from $138.00 to $136.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. UBS Group increased their target price on Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Finally, Citigroup cut their price target on Northern Trust from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Northern Trust presently has an average rating of “Hold” and a consensus target price of $112.85.

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.