Engineers Gate Manager LP reduced its holdings in Northern Trust Co. (NASDAQ:NTRS) by 57.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,697 shares of the asset manager’s stock after selling 7,797 shares during the quarter. Engineers Gate Manager LP’s holdings in Northern Trust were worth $569,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the business. Steward Partners Investment Advisory LLC boosted its position in shares of Northern Trust by 18.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,232 shares of the asset manager’s stock worth $322,000 after buying an additional 500 shares during the period. Cornerstone Advisors Inc. boosted its position in shares of Northern Trust by 30.6% during the fourth quarter. Cornerstone Advisors Inc. now owns 2,324 shares of the asset manager’s stock worth $232,000 after buying an additional 545 shares during the period. Global X MANAGEMENT CO LLC boosted its position in shares of Northern Trust by 10.3% during the third quarter. Global X MANAGEMENT CO LLC now owns 5,965 shares of the asset manager’s stock worth $548,000 after buying an additional 556 shares during the period. BT Investment Management Ltd boosted its position in shares of Northern Trust by 16.4% during the third quarter. BT Investment Management Ltd now owns 4,007 shares of the asset manager’s stock worth $368,000 after buying an additional 565 shares during the period. Finally, Alps Advisors Inc. boosted its position in shares of Northern Trust by 15.2% during the third quarter. Alps Advisors Inc. now owns 4,414 shares of the asset manager’s stock worth $406,000 after buying an additional 583 shares during the period. Institutional investors own 80.69% of the company’s stock.
Several research analysts have recently weighed in on NTRS shares. 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. Keefe, Bruyette & Woods reissued a “hold” rating and set a $110.00 price target on shares of Northern Trust in a research report on Friday, December 22nd. Zacks Investment Research raised Northern Trust from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research report on Tuesday, December 19th. Barclays increased their price target on Northern Trust from $102.00 to $114.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Morgan Stanley increased their price target on Northern Trust from $83.00 to $91.00 and gave the company an “underweight” rating in a research report on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $104.81.
Northern Trust Co. (NTRS) opened at $99.35 on Wednesday. Northern Trust Co. has a 52-week low of $83.17 and a 52-week high of $108.91. The company has a market capitalization of $22,596.56, a P/E ratio of 20.61, a P/E/G ratio of 1.32 and a beta of 0.99. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.35.
Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, January 24th. The asset manager reported $1.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.05. Northern Trust had a return on equity of 12.77% and a net margin of 20.98%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the firm posted $1.11 earnings per share. The business’s revenue was up 15.6% on a year-over-year basis. equities analysts predict that Northern Trust Co. will post 6.02 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.69%. Northern Trust’s payout ratio is 34.15%.
In other news, EVP Wilson Leech sold 8,958 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $106.17, for a total value of $951,070.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frederick H. Waddell sold 44,658 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $97.95, for a total value of $4,374,251.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,655 shares of company stock valued at $19,906,776. Insiders own 1.27% of the company’s stock.
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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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