Lake Street Advisors Group LLC purchased a new position in shares of Northern Trust Co. (NASDAQ:NTRS) in the fourth quarter, Holdings Channel reports. The fund purchased 5,203 shares of the asset manager’s stock, valued at approximately $520,000.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Raymond James Trust N.A. raised its stake in shares of Northern Trust by 15.9% during the fourth quarter. Raymond James Trust N.A. now owns 3,629 shares of the asset manager’s stock worth $362,000 after buying an additional 498 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake 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 last quarter. OLD National Bancorp IN increased its stake in Northern Trust by 7.7% in the fourth quarter. OLD National Bancorp IN now owns 7,010 shares of the asset manager’s stock valued at $701,000 after purchasing an additional 500 shares in the last quarter. Standard Life Aberdeen plc increased its stake in Northern Trust by 0.9% in the fourth quarter. Standard Life Aberdeen plc now owns 56,584 shares of the asset manager’s stock valued at $5,653,000 after purchasing an additional 515 shares in the last quarter. Finally, Cornerstone Advisors Inc. increased its stake in Northern Trust by 30.6% in the fourth quarter. Cornerstone Advisors Inc. now owns 2,324 shares of the asset manager’s stock valued at $232,000 after purchasing an additional 545 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.
Shares of NTRS stock opened at $106.35 on Wednesday. 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 Co. has a 12-month low of $83.17 and a 12-month high of $110.81. The stock has a market cap of $24,074.09, a price-to-earnings ratio of 21.62, a PEG ratio of 1.40 and a beta of 0.95.
Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, January 24th. The asset manager reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.05. Northern Trust had a net margin of 20.98% and a return on equity of 12.77%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the firm earned $1.11 earnings per share. The firm’s revenue was up 15.6% compared to the same quarter last year. research analysts expect that Northern Trust Co. will post 6.1 EPS for the current fiscal year.
The business 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 dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Thursday, March 8th. Northern Trust’s dividend payout ratio is 34.15%.
In other news, CFO Biff Bowman sold 13,811 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $108.53, for a total transaction of $1,498,907.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Aileen B. Blake sold 3,000 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $105.32, for a total transaction of $315,960.00. The disclosure for this sale can be found here. Insiders have sold 189,457 shares of company stock valued at $20,188,250 in the last three months. 1.04% of the stock is owned by insiders.
Several equities research analysts have commented on the stock. Sandler O’Neill reaffirmed a “hold” rating and issued a $105.00 target price on shares of Northern Trust in a research note on Wednesday, January 10th. Wells Fargo set a $105.00 target price on shares of Northern Trust and gave the company a “hold” rating in a research note on Wednesday, December 20th. Royal Bank of Canada upped their target price on shares of Northern Trust to $110.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. BidaskClub downgraded shares of Northern Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Finally, Zacks Investment Research raised shares of Northern Trust from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research note on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. Northern Trust presently has an average rating of “Hold” and a consensus target price of $104.81.
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About Northern Trust
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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