ING Groep NV Has $1.75 Million Stake in Northern Trust Co. (NASDAQ:NTRS)

ING Groep NV raised its stake in Northern Trust Co. (NASDAQ:NTRS) by 2,003.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,787 shares of the asset manager’s stock after buying an additional 19,799 shares during the quarter. ING Groep NV’s holdings in Northern Trust were worth $1,754,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in NTRS. Fortitude Family Office LLC acquired a new position in Northern Trust in the fourth quarter valued at about $28,000. Quent Capital LLC increased its holdings in shares of 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 acquiring an additional 158 shares in the last quarter. Allworth Financial LP increased its holdings in shares of 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 acquiring an additional 174 shares in the last quarter. Covestor Ltd increased its holdings in shares of Northern Trust by 147.5% in the third quarter. Covestor Ltd now owns 604 shares of the asset manager’s stock worth $42,000 after acquiring an additional 360 shares in the last quarter. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of Northern Trust in the fourth quarter worth about $45,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NTRS. Evercore ISI increased their price target on Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Morgan Stanley restated an “underweight” rating and issued a $86.00 price target (up from $82.00) on shares of Northern Trust in a report on Tuesday, January 30th. Bank of America increased their price objective on Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, Jefferies Financial Group increased their price objective on Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $84.92.

Northern Trust Stock Up 0.2 %

NTRS stock opened at $84.60 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average price of $84.81 and a two-hundred day moving average price of $81.91. The company has a market cap of $17.31 billion, a price-to-earnings ratio of 18.68, a P/E/G ratio of 1.20 and a beta of 1.13. Northern Trust Co. has a twelve month low of $62.44 and a twelve month high of $89.25.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Tuesday, April 16th. The asset manager reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.23. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.79 billion. Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. Analysts anticipate that Northern Trust Co. will post 6.82 EPS for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.55%. Northern Trust’s payout ratio is 66.23%.

Insider Activity

In other news, insider Steven L. Fradkin sold 30,392 shares of the firm’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 completion of the sale, the insider now directly owns 55,707 shares of the company’s stock, valued at $4,462,687.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Steven L. Fradkin sold 30,392 shares of Northern Trust stock in a transaction that occurred 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 directly owns 55,707 shares of the company’s stock, valued at approximately $4,462,687.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Steven L. Fradkin sold 4,097 shares of Northern Trust stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total value of $338,248.32. Following the sale, the insider now directly owns 46,078 shares of the company’s stock, valued at $3,804,199.68. The disclosure for this sale can be found here. Insiders sold a total of 46,489 shares of company stock valued at $3,818,031 over the last three months. Insiders own 0.64% of the company’s stock.

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.