Los Angeles Capital Management LLC Invests $1.14 Million in Northern Trust Co. (NASDAQ:NTRS)

Los Angeles Capital Management LLC acquired a new stake in shares of Northern Trust Co. (NASDAQ:NTRS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 13,448 shares of the asset manager’s stock, valued at approximately $1,135,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC raised its position in Northern Trust by 1.2% during the third quarter. FMR LLC now owns 10,791,735 shares of the asset manager’s stock valued at $749,810,000 after acquiring an additional 126,172 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Northern Trust by 4.2% during the 3rd quarter. Primecap Management Co. CA now owns 6,497,047 shares of the asset manager’s stock valued at $451,415,000 after purchasing an additional 264,805 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Northern Trust by 1.5% in the 3rd quarter. Northern Trust Corp now owns 5,955,048 shares of the asset manager’s stock valued at $413,757,000 after purchasing an additional 89,696 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Northern Trust by 1.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,980,072 shares of the asset manager’s stock worth $346,015,000 after purchasing an additional 64,707 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Northern Trust by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,486,840 shares of the asset manager’s stock worth $311,746,000 after buying an additional 119,484 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Jefferies Financial Group upped their price objective on shares of Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Morgan Stanley reaffirmed an “underweight” rating and issued a $86.00 price target (up from $82.00) on shares of Northern Trust in a research report on Tuesday, January 30th. TheStreet upgraded shares of Northern Trust from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. Bank of America upped their target price on shares of Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada raised their price target on shares of Northern Trust from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $84.92.

Insider Transactions at Northern Trust

In related news, insider Steven L. Fradkin sold 30,392 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total value of $2,434,703.12. Following the completion of the sale, the insider now owns 55,707 shares of the company’s stock, valued at $4,462,687.77. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Northern Trust news, insider Steven L. Fradkin sold 4,097 shares of Northern Trust stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total transaction of $338,248.32. Following the completion of the sale, the insider now owns 46,078 shares of the company’s stock, valued at approximately $3,804,199.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven L. Fradkin sold 30,392 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total transaction of $2,434,703.12. Following the completion of the sale, the insider now owns 55,707 shares in the company, valued at $4,462,687.77. The disclosure for this sale can be found here. 0.64% of the stock is owned by company insiders.

Northern Trust Stock Up 1.1 %

NTRS opened at $85.62 on Thursday. The firm’s 50-day simple moving average is $84.12 and its 200-day simple moving average is $80.50. Northern Trust Co. has a twelve month low of $62.44 and a twelve month high of $89.25. The firm has a market cap of $17.52 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 1.21 and a beta of 1.13. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Friday, June 7th. Northern Trust’s dividend payout ratio is presently 66.23%.

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.