Point72 Asset Management L.P. purchased a new stake in Northern Trust Co. (NASDAQ:NTRS) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 254,100 shares of the asset manager’s stock, valued at approximately $23,359,000. Point72 Asset Management L.P. owned approximately 0.11% of Northern Trust as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Northern Trust by 2.6% in the second quarter. Vanguard Group Inc. now owns 14,255,623 shares of the asset manager’s stock valued at $1,385,789,000 after buying an additional 363,691 shares in the last quarter. BlackRock Inc. increased its position in shares of Northern Trust by 0.3% in the second quarter. BlackRock Inc. now owns 13,318,550 shares of the asset manager’s stock valued at $1,294,697,000 after buying an additional 38,780 shares in the last quarter. Northern Trust Corp increased its position in shares of Northern Trust by 1.5% in the second quarter. Northern Trust Corp now owns 12,414,424 shares of the asset manager’s stock valued at $1,206,806,000 after buying an additional 184,112 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Northern Trust by 0.5% in the third quarter. JPMorgan Chase & Co. now owns 8,262,483 shares of the asset manager’s stock valued at $759,569,000 after buying an additional 41,048 shares in the last quarter. Finally, Burgundy Asset Management Ltd. increased its position in shares of Northern Trust by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 2,373,551 shares of the asset manager’s stock valued at $230,733,000 after buying an additional 32,849 shares in the last quarter. Institutional investors and hedge funds own 81.75% of the company’s stock.
Shares of Northern Trust Co. (NTRS) opened at $97.48 on Thursday. The company has a market capitalization of $22,170.00, a PE ratio of 21.30, a P/E/G ratio of 2.08 and a beta of 0.96. Northern Trust Co. has a 52-week low of $81.92 and a 52-week high of $99.66. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.71 and a current ratio of 0.71.
Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, October 18th. The asset manager reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.08. Northern Trust had a return on equity of 12.33% and a net margin of 20.27%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the business posted $1.11 EPS. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. analysts expect that Northern Trust Co. will post 4.68 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 1st will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Thursday, November 30th. Northern Trust’s payout ratio is 37.09%.
In other Northern Trust news, COO Jana R. Schreuder sold 18,489 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $99.20, for a total value of $1,834,108.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Aileen B. Blake sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $94.00, for a total value of $94,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 433,382 shares of company stock worth $41,304,013. 1.27% of the stock is owned by corporate insiders.
NTRS has been the subject of a number of research analyst reports. Zacks Investment Research cut Northern Trust from a “hold” rating to a “sell” rating in a research report on Monday, August 28th. UBS upgraded Northern Trust from a “neutral” rating to a “buy” rating and raised their price target for the company from $92.00 to $100.00 in a research report on Friday, September 8th. Bank of America set a $102.00 price objective on Northern Trust and gave the stock a “buy” rating in a research report on Thursday, October 19th. Citigroup reiterated a “neutral” rating and set a $92.00 price objective (up previously from $90.00) on shares of Northern Trust in a research report on Monday, October 9th. Finally, Morgan Stanley lifted their price objective on Northern Trust from $83.00 to $91.00 and gave the stock an “underweight” rating in a research report on Thursday, October 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $97.07.
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Northern Trust Company 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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