The Manufacturers Life Insurance Company reduced its stake in Northern Trust Co. (NASDAQ:NTRS) by 20.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 247,503 shares of the asset manager’s stock after selling 64,730 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Northern Trust were worth $24,723,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTRS. Alyeska Investment Group L.P. purchased a new stake in Northern Trust in the 3rd quarter valued at $128,778,000. Bank of New York Mellon Corp increased its position in shares of Northern Trust by 14.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,965,535 shares of the asset manager’s stock valued at $180,691,000 after purchasing an additional 255,106 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Northern Trust during the 3rd quarter valued at $23,359,000. Janus Henderson Group PLC increased its position in shares of Northern Trust by 89.5% during the 3rd quarter. Janus Henderson Group PLC now owns 428,273 shares of the asset manager’s stock valued at $39,372,000 after purchasing an additional 202,222 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Northern Trust by 8.3% during the 4th quarter. Wells Fargo & Company MN now owns 2,106,085 shares of the asset manager’s stock valued at $210,376,000 after purchasing an additional 160,702 shares during the last quarter. 81.05% of the stock is owned by institutional investors and hedge funds.
In other news, Vice Chairman William L. Morrison sold 20,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $105.08, for a total transaction of $2,101,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jana R. Schreuder sold 2,600 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $99.02, for a total value of $257,452.00. The disclosure for this sale can be found here. Insiders have sold a total of 225,553 shares of company stock valued at $22,734,528 in the last quarter. 1.27% of the stock is owned by corporate insiders.
Northern Trust Co. (NASDAQ NTRS) opened at $104.12 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $23,965.63, a price-to-earnings ratio of 21.86, a PEG ratio of 1.38 and a beta of 0.99. Northern Trust Co. has a 12 month low of $83.17 and a 12 month high of $108.91.
Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, January 24th. The asset manager reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.05. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.41 billion. Northern Trust had a return on equity of 12.77% and a net margin of 20.98%. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.11 EPS. research analysts forecast that Northern Trust Co. will post 6.11 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be paid a dividend of $0.42 per share. The ex-dividend date is Thursday, March 8th. This represents a $1.68 annualized dividend and a dividend yield of 1.61%. Northern Trust’s payout ratio is 34.15%.
NTRS has been the subject of several research analyst reports. Wells Fargo & Co set a $105.00 target price on Northern Trust and gave the company a “hold” rating in a research report on Wednesday, December 20th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $110.00 target price on shares of Northern Trust in a research report on Friday, December 22nd. BidaskClub raised Northern Trust from a “hold” rating to a “buy” rating in a research report on Saturday, January 13th. Barclays raised their target price 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, Royal Bank of Canada raised their target price on Northern Trust to $110.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $104.81.
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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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