Forum Financial Management LP Purchases New Shares in Northern Trust Co. (NASDAQ:NTRS)

Forum Financial Management LP acquired a new position in shares of Northern Trust Co. (NASDAQ:NTRS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,325 shares of the asset manager’s stock, valued at approximately $546,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NTRS. Norges Bank purchased a new stake in Northern Trust in the 4th quarter valued at about $83,550,000. KBC Group NV lifted its holdings in Northern Trust by 201.6% during the fourth quarter. KBC Group NV now owns 963,811 shares of the asset manager’s stock worth $98,791,000 after acquiring an additional 644,261 shares during the period. Cerity Partners LLC boosted its position in Northern Trust by 451.9% in the fourth quarter. Cerity Partners LLC now owns 555,631 shares of the asset manager’s stock worth $56,866,000 after purchasing an additional 454,956 shares during the last quarter. ExodusPoint Capital Management LP bought a new position in Northern Trust in the 4th quarter valued at $42,715,000. Finally, JPMorgan Chase & Co. increased its position in shares of Northern Trust by 9.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock valued at $386,809,000 after purchasing an additional 388,692 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Up 1.0 %

NTRS stock opened at $88.29 on Friday. Northern Trust Co. has a twelve month low of $79.68 and a twelve month high of $114.67. The firm has a market capitalization of $17.28 billion, a PE ratio of 9.03, a PEG ratio of 1.72 and a beta of 1.10. 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 stock has a 50-day simple moving average of $99.92 and a two-hundred day simple moving average of $102.81.

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

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.75 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 3.40%. Northern Trust’s payout ratio is currently 30.67%.

Insider Activity

In related news, EVP Thomas A. South sold 3,804 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total transaction of $429,852.00. Following the transaction, the executive vice president now directly owns 81,794 shares of the company’s stock, valued at approximately $9,242,722. This trade represents a 4.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jane Karpinski sold 2,262 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $111.33, for a total value of $251,828.46. Following the completion of the sale, the executive vice president now directly owns 17,236 shares of the company’s stock, valued at approximately $1,918,883.88. This represents a 11.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,335 shares of company stock worth $3,970,211. 0.77% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NTRS. Wells Fargo & Company cut their price target on shares of Northern Trust from $119.00 to $118.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. StockNews.com downgraded shares of Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Keefe, Bruyette & Woods lifted their price target 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. Citigroup dropped 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. Finally, Barclays raised their target price on Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $113.08.

About Northern Trust

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.