Palisade Asset Management LLC increased its holdings in Northern Trust Co. (NASDAQ:NTRS) by 19.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,280 shares of the asset manager’s stock after purchasing an additional 1,200 shares during the quarter. Palisade Asset Management LLC’s holdings in Northern Trust were worth $658,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Kaizen Advisory LLC increased its stake in Northern Trust by 20.3% during the 4th quarter. Kaizen Advisory LLC now owns 645 shares of the asset manager’s stock worth $54,000 after buying an additional 109 shares in the last quarter. LS Investment Advisors LLC increased its stake in Northern Trust by 2.3% during the 4th quarter. LS Investment Advisors LLC now owns 5,974 shares of the asset manager’s stock worth $499,000 after buying an additional 132 shares in the last quarter. Simmons Bank increased its stake in Northern Trust by 1.1% during the 4th quarter. Simmons Bank now owns 12,616 shares of the asset manager’s stock worth $1,055,000 after buying an additional 134 shares in the last quarter. Advisor Group Inc. increased its stake in Northern Trust by 3.6% during the 4th quarter. Advisor Group Inc. now owns 4,021 shares of the asset manager’s stock worth $336,000 after buying an additional 139 shares in the last quarter. Finally, First Mercantile Trust Co. increased its stake in Northern Trust by 63.6% during the 4th quarter. First Mercantile Trust Co. now owns 360 shares of the asset manager’s stock worth $30,000 after buying an additional 140 shares in the last quarter. 78.95% of the stock is owned by institutional investors.
Northern Trust stock traded down $0.51 during mid-day trading on Monday, hitting $94.04. The company’s stock had a trading volume of 821,697 shares, compared to its average volume of 1,211,224. The firm has a market capitalization of $20.46 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 1.24 and a beta of 1.06. Northern Trust Co. has a 1 year low of $75.96 and a 1 year high of $115.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.64 and a current ratio of 0.64.
The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.55%. This is a boost from Northern Trust’s previous quarterly dividend of $0.55. The ex-dividend date was Thursday, March 7th. Northern Trust’s dividend payout ratio is 35.66%.
NTRS has been the subject of a number of analyst reports. Vining Sparks restated a “buy” rating and issued a $120.00 price target on shares of Northern Trust in a research report on Wednesday, January 23rd. Buckingham Research upgraded Northern Trust from a “neutral” rating to a “buy” rating and upped their price target for the company from $104.00 to $115.00 in a research report on Thursday, March 14th. Deutsche Bank upped their price target on Northern Trust from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Barclays dropped their price target on Northern Trust from $119.00 to $109.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 2nd. Finally, Jefferies Financial Group lowered Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, January 8th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $110.45.
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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, Corporate & Institutional Services (C&IS) and Wealth Management.
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