Wellington Management Group LLP Raises Position in Northern Trust Co. (NASDAQ:NTRS)

Wellington Management Group LLP lifted its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,532,401 shares of the asset manager’s stock after acquiring an additional 39,592 shares during the quarter. Wellington Management Group LLP owned 1.29% of Northern Trust worth $259,571,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Ballentine Partners LLC increased its holdings in Northern Trust by 4.4% during the 4th 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 period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Northern Trust by 24.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,061 shares of the asset manager’s stock worth $2,286,000 after buying an additional 4,374 shares during the period. JPMorgan Chase & Co. raised its holdings in Northern Trust by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock valued at $386,809,000 after acquiring an additional 388,692 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its stake in Northern Trust by 68.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 13,765 shares of the asset manager’s stock worth $1,239,000 after acquiring an additional 5,578 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Northern Trust by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager’s stock worth $129,909,000 after acquiring an additional 8,102 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NTRS has been the subject of several recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a research report on Friday, January 24th. Citigroup decreased 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, March 24th. 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, March 6th. Truist Financial boosted their target price on Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Finally, Royal Bank of Canada increased their price target on shares of Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $113.54.

Insider Transactions at Northern Trust

In other news, insider Jason J. Tyler sold 2,237 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $112.67, for a total value of $252,042.79. Following the completion of the sale, the insider now directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas A. South sold 3,804 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total value of $429,852.00. Following the transaction, the executive vice president now directly owns 81,794 shares in the company, valued at $9,242,722. This represents a 4.44 % decrease in their position. 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. Company insiders own 0.77% of the company’s stock.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $97.95 on Wednesday. Northern Trust Co. has a one year low of $79.32 and a one year high of $114.67. The stock has a market capitalization of $19.17 billion, a price-to-earnings ratio of 10.02, a PEG ratio of 1.72 and a beta of 1.07. The company has a 50-day simple moving average of $106.68 and a 200-day simple moving average of $103.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share 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%. On average, analysts predict that Northern Trust Co. will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 3.06%. Northern Trust’s payout ratio is currently 30.67%.

Northern Trust Company 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.