Eaton Vance Management Sells 362,693 Shares of Northern Trust Co. (NTRS)

Eaton Vance Management lowered its holdings in Northern Trust Co. (NASDAQ:NTRS) by 55.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 291,276 shares of the asset manager’s stock after selling 362,693 shares during the period. Eaton Vance Management’s holdings in Northern Trust were worth $29,748,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vulcan Value Partners LLC boosted its holdings in shares of Northern Trust by 56.6% during the second quarter. Vulcan Value Partners LLC now owns 2,522,199 shares of the asset manager’s stock worth $259,509,000 after purchasing an additional 911,176 shares during the period. BlackRock Inc. boosted its holdings in shares of Northern Trust by 2.8% during the third quarter. BlackRock Inc. now owns 13,842,776 shares of the asset manager’s stock worth $1,413,762,000 after purchasing an additional 378,260 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Northern Trust by 10.7% during the second quarter. Wells Fargo & Company MN now owns 2,388,480 shares of the asset manager’s stock worth $245,751,000 after purchasing an additional 230,226 shares during the period. Morgan Stanley boosted its holdings in shares of Northern Trust by 29.0% during the second quarter. Morgan Stanley now owns 911,274 shares of the asset manager’s stock worth $93,762,000 after purchasing an additional 205,050 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Northern Trust during the second quarter worth approximately $20,728,000. 79.12% of the stock is currently owned by institutional investors.

Shares of NASDAQ:NTRS opened at $99.23 on Monday. Northern Trust Co. has a 52-week low of $87.98 and a 52-week high of $115.61. The company has a market capitalization of $21.97 billion, a PE ratio of 20.54, a PEG ratio of 1.27 and a beta of 0.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.65 and a quick ratio of 0.65.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, October 17th. The asset manager reported $1.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.03). The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.52 billion. Northern Trust had a net margin of 23.28% and a return on equity of 15.75%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business earned $1.20 EPS. Equities research analysts forecast that Northern Trust Co. will post 6.59 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, December 13th. This represents a $2.20 annualized dividend and a yield of 2.22%. Northern Trust’s dividend payout ratio (DPR) is presently 45.55%.

Several research firms recently commented on NTRS. Credit Suisse Group raised their price target on shares of Northern Trust from $112.00 to $114.00 and gave the stock a “neutral” rating in a report on Friday, August 10th. BidaskClub cut shares of Northern Trust from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 18th. Deutsche Bank reduced their target price on shares of Northern Trust from $119.00 to $118.00 and set a “hold” rating for the company in a research note on Thursday, August 16th. UBS Group lifted their target price on shares of Northern Trust from $124.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, October 8th. Finally, Wolfe Research initiated coverage on shares of Northern Trust in a research note on Tuesday, September 25th. They issued a “market perform” rating for the company. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $117.94.

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About Northern Trust

Northern Trust Corporation, a financial holding company, provides asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates through Corporate & Institutional Services (C&IS) and Wealth Management segments.

Further Reading: What is a balanced fund?

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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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