Madison Investment Advisors LLC Purchases New Holdings in Northern Trust Co. (NASDAQ:NTRS)

Madison Investment Advisors LLC purchased a new stake in Northern Trust Co. (NASDAQ:NTRS) in the 4th quarter, HoldingsChannel reports. The fund purchased 73,265 shares of the asset manager’s stock, valued at approximately $7,510,000.

Other hedge funds have also made changes to their positions in the company. Y.D. More Investments Ltd increased its stake in Northern Trust by 118.4% in 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. Assetmark Inc. increased 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 during the last quarter. Brooklyn Investment Group increased 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 during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Northern Trust by 83.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 494 shares of the asset manager’s stock worth $51,000 after buying an additional 224 shares during the period. Finally, Friedenthal Financial bought a new stake in shares of Northern Trust during the 4th quarter worth $57,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling

In related news, insider Jason J. Tyler sold 2,237 shares of Northern Trust stock in a transaction that occurred 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 of the company’s stock, valued at $6,585,448.83. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 transaction of $2,936,191.52. Following the transaction, the chief operating officer now directly owns 26,586 shares in the company, valued at $2,987,202.96. The trade was a 49.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,335 shares of company stock valued at $3,970,211 in the last 90 days. 0.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NTRS. Barclays upped their price objective on shares of Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. The Goldman Sachs Group upped their price objective on shares of Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a report on Friday, January 24th. Keefe, Bruyette & Woods upped their price objective on shares of Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a report on Friday, January 24th. Morgan Stanley reduced their price target 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. Finally, 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 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $113.50.

Northern Trust Price Performance

NASDAQ:NTRS opened at $98.77 on Friday. Northern Trust Co. has a 52 week low of $79.32 and a 52 week high of $114.67. The company has a 50-day moving average of $107.42 and a 200-day moving average of $102.37. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. The company has a market capitalization of $19.33 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 1.72 and a beta of 1.07.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 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%. As a group, equities research analysts anticipate that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.04%. The ex-dividend date is Friday, March 14th. 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.