Allstate Corp Makes New $620,000 Investment in Northern Trust Co. (NASDAQ:NTRS)

Allstate Corp acquired a new position in Northern Trust Co. (NASDAQ:NTRS) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,049 shares of the asset manager’s stock, valued at approximately $620,000.

Several other hedge funds also recently made changes to their positions in the company. Y.D. More Investments Ltd boosted 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 worth $26,000 after purchasing an additional 135 shares in the last quarter. Empirical Asset Management LLC bought a new position in shares of Northern Trust in the fourth quarter worth approximately $33,000. Brooklyn Investment Group lifted its stake 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 worth $39,000 after buying an additional 128 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Northern Trust by 528.3% during the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock valued at $39,000 after buying an additional 317 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Northern Trust during the fourth quarter valued at approximately $51,000. 83.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NTRS has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their price objective on Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a research report on Friday, January 24th. Citigroup decreased their price objective on Northern Trust from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Royal Bank of Canada upped their target price on shares of Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. StockNews.com cut Northern Trust from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Truist Financial upped their price objective on Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and a consensus target price of $113.54.

Insider Activity

In other news, insider John Landers sold 900 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total transaction of $100,296.00. Following the sale, the insider now directly owns 7,640 shares of the company’s stock, valued at $851,401.60. The trade was a 10.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason J. Tyler sold 2,237 shares of the stock in a transaction dated Thursday, January 30th. The shares were 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 $6,585,448.83. This represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,335 shares of company stock worth $3,970,211. Insiders own 0.77% of the company’s stock.

Northern Trust Price Performance

NTRS stock opened at $97.95 on Wednesday. The firm has a market capitalization of $19.17 billion, a P/E ratio of 10.02, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07. Northern Trust Co. has a 52 week low of $79.32 and a 52 week 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 company has a fifty day simple moving average of $106.68 and a two-hundred day simple moving average of $103.14.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating 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%. Analysts anticipate that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 3.06%. Northern Trust’s dividend payout ratio (DPR) 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.