2,023 Shares in Northern Trust Co. (NASDAQ:NTRS) Purchased by Cigna Investments Inc. New

Cigna Investments Inc. New bought a new stake in shares of Northern Trust Co. (NASDAQ:NTRS) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,023 shares of the asset manager’s stock, valued at approximately $207,000.

Other hedge funds also recently modified their holdings of the company. Y.D. More Investments Ltd increased its holdings in Northern Trust by 118.4% in the fourth 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 last quarter. Empirical Asset Management LLC bought a new stake in shares of Northern Trust in the 4th quarter valued at about $33,000. Northwest Investment Counselors LLC acquired a new stake in shares of Northern Trust in the 3rd quarter valued at approximately $39,000. Brooklyn Investment Group boosted its stake in 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 acquiring an additional 128 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Northern Trust during the third quarter valued at approximately $48,000. Institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling at Northern Trust

In other news, insider John Landers sold 900 shares of Northern Trust stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total value of $100,296.00. Following the completion of the transaction, the insider now owns 7,640 shares of the company’s stock, valued at $851,401.60. This trade represents a 10.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Steven L. Fradkin sold 9,100 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the transaction, the insider now owns 47,797 shares in the company, valued at $5,305,467. This represents a 15.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,631 shares of company stock worth $4,550,459 over the last ninety days. 0.64% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NTRS. Truist Financial lifted their price target 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. Deutsche Bank Aktiengesellschaft lifted their target price on Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a report on Monday, November 11th. StockNews.com upgraded Northern Trust from a “hold” rating to a “buy” rating in a report on Friday, January 24th. Morgan Stanley cut their price objective on Northern Trust from $127.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday, January 3rd. Finally, Evercore ISI increased their target price on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $112.58.

Northern Trust Price Performance

NASDAQ NTRS opened at $110.42 on Wednesday. The firm’s 50 day moving average is $106.46 and its 200-day moving average is $98.67. 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 company has a market capitalization of $21.89 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08. Northern Trust Co. has a 12-month low of $76.67 and a 12-month 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, 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%. Equities research analysts anticipate that Northern Trust Co. will post 8.2 earnings per share for the current fiscal 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 issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.00 annualized dividend and a yield of 2.72%. 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.