Gateway Investment Advisers LLC decreased its stake in Northern Trust Co. (NASDAQ:NTRS) by 11.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,585 shares of the asset manager’s stock after selling 1,137 shares during the period. Gateway Investment Advisers LLC’s holdings in Northern Trust were worth $776,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in NTRS. First Mercantile Trust Co. lifted its stake in shares of Northern Trust by 63.6% in the fourth quarter. First Mercantile Trust Co. now owns 360 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 140 shares during the period. Synovus Financial Corp raised its position in Northern Trust by 66.0% during the fourth quarter. Synovus Financial Corp now owns 503 shares of the asset manager’s stock worth $43,000 after acquiring an additional 200 shares during the last quarter. Exane Asset Management acquired a new position in Northern Trust during the fourth quarter worth about $44,000. Rehmann Capital Advisory Group raised its position in Northern Trust by 161.3% during the third quarter. Rehmann Capital Advisory Group now owns 473 shares of the asset manager’s stock worth $48,000 after acquiring an additional 292 shares during the last quarter. Finally, Kaizen Advisory LLC raised its position in Northern Trust by 20.3% during the fourth quarter. Kaizen Advisory LLC now owns 645 shares of the asset manager’s stock worth $54,000 after acquiring an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 78.95% of the company’s stock.
NTRS has been the subject of a number of research reports. Zacks Investment Research cut shares of Northern Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, December 19th. Barclays cut their target price on shares of Northern Trust from $119.00 to $109.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 2nd. Jefferies Financial Group cut shares of Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, January 8th. Wolfe Research cut shares of Northern Trust from a “market perform” rating to an “underperform” rating in a research report on Tuesday, January 8th. Finally, Morgan Stanley cut their target price on shares of Northern Trust from $109.00 to $96.00 and set an “underweight” rating for the company in a research report on Tuesday, January 8th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $110.45.
Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, January 23rd. The asset manager reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.19. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.49 billion. Northern Trust had a net margin of 23.37% and a return on equity of 16.62%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.51 earnings per share. On average, research analysts predict that Northern Trust Co. will post 6.66 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, March 7th. This is an increase from Northern Trust’s previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.60%. Northern Trust’s payout ratio is 35.66%.
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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, Corporate & Institutional Services (C&IS) and Wealth Management.
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