Rhumbline Advisers raised its stake in Northern Trust Co. (NASDAQ:NTRS) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 382,564 shares of the asset manager’s stock after purchasing an additional 5,004 shares during the period. Rhumbline Advisers’ holdings in Northern Trust were worth $38,214,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Toronto Dominion Bank boosted its holdings in Northern Trust by 11.0% in the 3rd quarter. Toronto Dominion Bank now owns 81,627 shares of the asset manager’s stock valued at $7,502,000 after purchasing an additional 8,120 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Northern Trust by 1.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 973,397 shares of the asset manager’s stock valued at $89,484,000 after purchasing an additional 12,322 shares during the period. Aurora Investment Counsel bought a new stake in Northern Trust in the 4th quarter valued at $2,161,000. Shell Asset Management Co. boosted its holdings in Northern Trust by 187.4% in the 3rd quarter. Shell Asset Management Co. now owns 34,698 shares of the asset manager’s stock valued at $2,361,000 after purchasing an additional 22,624 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Northern Trust by 127.7% in the 4th quarter. SG Americas Securities LLC now owns 50,447 shares of the asset manager’s stock valued at $5,039,000 after purchasing an additional 28,291 shares during the period. 81.05% of the stock is owned by hedge funds and other institutional investors.
NTRS has been the subject of a number of research reports. Credit Suisse Group increased their price target on shares of Northern Trust from $99.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Morgan Stanley raised their price objective on shares of Northern Trust from $104.00 to $110.00 and gave the stock an “underweight” rating in a report on Friday, February 2nd. Bank of America raised their price objective on shares of Northern Trust from $112.00 to $116.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. BidaskClub raised shares of Northern Trust from a “hold” rating to a “buy” rating in a report on Saturday, January 13th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $110.00 price objective on shares of Northern Trust in a report on Friday, December 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $104.81.
Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, January 24th. The asset manager reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Northern Trust had a net margin of 20.98% and a return on equity of 12.77%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the company posted $1.11 EPS. research analysts anticipate that Northern Trust Co. will post 6.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Thursday, March 8th. Northern Trust’s dividend payout ratio (DPR) is currently 34.15%.
In related news, EVP Wilson Leech sold 8,958 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $106.17, for a total transaction of $951,070.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frederick H. Waddell sold 44,658 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $97.95, for a total transaction of $4,374,251.10. The disclosure for this sale can be found here. Insiders have sold a total of 198,655 shares of company stock valued at $19,906,776 in the last quarter. 1.27% of the stock is currently owned by corporate insiders.
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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