Ropes Wealth Advisors LLC lifted its stake in Northern Trust Co. (NASDAQ:NTRS) by 147.6% during the 1st quarter, Holdings Channel reports. The firm owned 21,446 shares of the asset manager’s stock after acquiring an additional 12,786 shares during the period. Ropes Wealth Advisors LLC’s holdings in Northern Trust were worth $2,539,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of NTRS. Norges Bank bought a new position in shares of Northern Trust in the 4th quarter worth $177,600,000. Principal Financial Group Inc. lifted its holdings in Northern Trust by 292.8% during the fourth quarter. Principal Financial Group Inc. now owns 1,236,711 shares of the asset manager’s stock worth $115,187,000 after acquiring an additional 921,861 shares in the last quarter. BlackRock Inc. lifted its holdings in Northern Trust by 3.9% during the first quarter. BlackRock Inc. now owns 14,498,779 shares of the asset manager’s stock worth $1,523,965,000 after acquiring an additional 546,512 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Northern Trust by 363.8% during the first quarter. Envestnet Asset Management Inc. now owns 338,221 shares of the asset manager’s stock worth $35,550,000 after acquiring an additional 265,299 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in Northern Trust by 39.6% during the fourth quarter. Morgan Stanley now owns 712,977 shares of the asset manager’s stock worth $66,406,000 after acquiring an additional 202,196 shares in the last quarter. Institutional investors and hedge funds own 81.06% of the company’s stock.
NASDAQ NTRS traded up $0.89 during trading on Friday, reaching $118.01. 3,290 shares of the company’s stock were exchanged, compared to its average volume of 940,816. The firm’s 50 day simple moving average is $114.76. The firm has a market capitalization of $24.56 billion, a PE ratio of 20.91, a P/E/G ratio of 1.18 and a beta of 1.10. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.42. Northern Trust Co. has a fifty-two week low of $72.64 and a fifty-two week high of $123.10.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Friday, June 11th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Thursday, June 10th. Northern Trust’s payout ratio is 48.03%.
NTRS has been the topic of several recent analyst reports. Royal Bank of Canada lifted their target price on Northern Trust from $108.00 to $117.00 and gave the stock an “outperform” rating in a report on Wednesday, April 21st. UBS Group upgraded Northern Trust from a “sell” rating to a “neutral” rating and boosted their price target for the company from $89.00 to $106.00 in a report on Tuesday, April 13th. Barclays boosted their price target on Northern Trust from $105.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, April 7th. Deutsche Bank Aktiengesellschaft boosted their price target on Northern Trust from $110.00 to $117.00 and gave the company a “buy” rating in a report on Friday, April 9th. Finally, Morgan Stanley cut their price target on Northern Trust from $131.00 to $126.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 21st. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $103.56.
In other news, insider Peter Cherecwich sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, May 17th. The stock was sold at an average price of $120.51, for a total value of $1,807,650.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Shundrawn A. Thomas sold 4,748 shares of the company’s stock in a transaction that occurred on Thursday, April 22nd. The shares were sold at an average price of $107.48, for a total value of $510,315.04. The disclosure for this sale can be found here. Insiders sold 141,276 shares of company stock worth $16,518,831 in the last ninety days. 0.69% of the stock is owned by company insiders.
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, Corporate & Institutional Services (C&IS) and Wealth Management.
Further Reading: History of the Euro STOXX 50 Index
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