Confluence Investment Management LLC cut its holdings in Northern Trust Co. (NASDAQ:NTRS) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,158,408 shares of the asset manager’s stock after selling 1,751 shares during the quarter. Northern Trust makes up about 2.1% of Confluence Investment Management LLC’s investment portfolio, making the stock its 8th largest position. Confluence Investment Management LLC’s holdings in Northern Trust were worth $115,713,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in NTRS. Toronto Dominion Bank raised its holdings in Northern Trust by 11.0% in the third quarter. Toronto Dominion Bank now owns 81,627 shares of the asset manager’s stock worth $7,502,000 after purchasing an additional 8,120 shares in the last quarter. Boston Common Asset Management LLC raised its holdings in Northern Trust by 2.9% in the second quarter. Boston Common Asset Management LLC now owns 60,330 shares of the asset manager’s stock worth $5,865,000 after purchasing an additional 1,700 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Northern Trust by 11.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 79,364 shares of the asset manager’s stock worth $7,715,000 after purchasing an additional 8,072 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Northern Trust by 7,106.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 526,081 shares of the asset manager’s stock worth $51,140,000 after purchasing an additional 518,781 shares in the last quarter. Finally, Shell Asset Management Co. raised its holdings in Northern Trust by 187.4% in the third quarter. Shell Asset Management Co. now owns 34,698 shares of the asset manager’s stock worth $2,361,000 after purchasing an additional 22,624 shares in the last quarter. 81.69% of the stock is owned by institutional investors.
In related news, COO Jana R. Schreuder sold 18,489 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $99.20, for a total value of $1,834,108.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Frederick H. Waddell sold 177,964 shares of the stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $95.64, for a total transaction of $17,020,476.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 323,382 shares of company stock worth $31,182,013. 1.27% of the stock is owned by corporate insiders.
Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, October 18th. The asset manager reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.08. Northern Trust had a net margin of 20.27% and a return on equity of 12.33%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the company posted $1.11 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. research analysts expect that Northern Trust Co. will post 4.69 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Friday, December 1st were issued a $0.42 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.68 annualized dividend and a yield of 1.64%. Northern Trust’s dividend payout ratio (DPR) is presently 37.09%.
A number of equities analysts have commented on NTRS shares. UBS Group boosted their target price on shares of Northern Trust from $100.00 to $109.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Keefe, Bruyette & Woods restated a “hold” rating and set a $110.00 price objective on shares of Northern Trust in a report on Friday, December 22nd. Morgan Stanley upped their price objective on shares of Northern Trust from $83.00 to $91.00 and gave the company an “underweight” rating in a report on Thursday, October 19th. Zacks Investment Research upgraded shares of Northern Trust from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. Finally, Barclays upped their price objective on shares of Northern Trust from $102.00 to $114.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $99.86.
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Northern Trust Profile
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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