Victory Capital Management Inc. Buys 10,435 Shares of Northern Trust Co. (NASDAQ:NTRS)

Victory Capital Management Inc. lifted its stake in Northern Trust Co. (NASDAQ:NTRS) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 414,425 shares of the asset manager’s stock after purchasing an additional 10,435 shares during the period. Victory Capital Management Inc.’s holdings in Northern Trust were worth $42,479,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Northern Trust by 0.6% in 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 purchasing an additional 8,102 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Northern Trust by 29.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 597 shares of the asset manager’s stock worth $61,000 after purchasing an additional 137 shares during the last quarter. Grandfield & Dodd LLC bought a new position in Northern Trust during the fourth quarter worth about $218,000. Jones Financial Companies Lllp lifted its holdings in Northern Trust by 36.5% during the fourth quarter. Jones Financial Companies Lllp now owns 3,569 shares of the asset manager’s stock worth $366,000 after acquiring an additional 954 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Northern Trust by 63.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 924 shares of the asset manager’s stock worth $95,000 after acquiring an additional 358 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NTRS. Truist Financial lifted their target price on Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a report on Friday, January 24th. StockNews.com lowered Northern Trust from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. The Goldman Sachs Group lifted their target price on Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a report on Friday, January 24th. Royal Bank of Canada lifted their target price on Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Finally, Morgan Stanley reduced their target price on Northern Trust from $138.00 to $136.00 and set an “equal weight” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $113.50.

Insider Buying and Selling

In other Northern Trust news, EVP Thomas A. South sold 3,804 shares of the firm’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 sale, the executive vice president now 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 document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jane Karpinski sold 2,262 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were 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 in the company, 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. Insiders have sold 35,335 shares of company stock valued at $3,970,211 over the last 90 days. 0.64% of the stock is owned by corporate insiders.

Northern Trust Stock Performance

NTRS opened at $104.32 on Friday. The firm has a market capitalization of $20.42 billion, a PE ratio of 10.67, a PEG ratio of 1.72 and a beta of 1.07. 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 Co. has a 52-week low of $79.30 and a 52-week high of $114.67. The business’s 50-day simple moving average is $108.20 and its 200 day simple moving average is $101.80.

Northern Trust (NASDAQ:NTRS) last announced its earnings results 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%. As a group, sell-side analysts expect that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Friday, March 14th. Northern Trust’s dividend payout ratio is currently 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.