SVB Wealth LLC Takes $213,000 Position in Northern Trust Co. (NASDAQ:NTRS)

SVB Wealth LLC acquired a new position in Northern Trust Co. (NASDAQ:NTRS) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,521 shares of the asset manager’s stock, valued at approximately $213,000.

Other hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new stake in Northern Trust in the fourth quarter worth about $28,000. Allworth Financial LP raised its holdings in Northern Trust by 94.1% in the fourth quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock worth $30,000 after purchasing an additional 174 shares in the last quarter. Quent Capital LLC raised its holdings in Northern Trust by 77.8% in the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after purchasing an additional 158 shares in the last quarter. Friedenthal Financial bought a new position in Northern Trust in the fourth quarter worth about $45,000. Finally, Bruce G. Allen Investments LLC bought a new position in Northern Trust in the fourth quarter worth about $45,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NTRS shares. Barclays boosted their target price on shares of Northern Trust from $90.00 to $98.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. UBS Group boosted their target price on shares of Northern Trust from $72.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Royal Bank of Canada boosted their target price on shares of Northern Trust from $82.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Morgan Stanley restated an “underweight” rating and set a $86.00 price objective (up previously from $82.00) on shares of Northern Trust in a report on Tuesday, January 30th. Finally, Bank of America upped their price objective on shares of Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $84.92.

Insider Activity at Northern Trust

In related news, insider Steven L. Fradkin sold 30,392 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total value of $2,434,703.12. Following the sale, the insider now owns 55,707 shares in the company, valued at $4,462,687.77. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.64% of the stock is owned by insiders.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $84.18 on Wednesday. The business’s 50 day moving average price is $83.44 and its 200 day moving average price is $79.34. The firm has a market cap of $17.17 billion, a P/E ratio of 18.58, a P/E/G ratio of 1.17 and a beta of 1.13. Northern Trust Co. has a 52 week low of $62.44 and a 52 week high of $89.25. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a $0.75 dividend. The ex-dividend date is Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a yield of 3.56%. Northern Trust’s dividend payout ratio is currently 66.23%.

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.