Boston Family Office LLC lowered its stake in Northern Trust Co. (NASDAQ:NTRS) by 3.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,019 shares of the asset manager’s stock after selling 682 shares during the period. Boston Family Office LLC’s holdings in Northern Trust were worth $1,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the business. US Bancorp DE grew its stake in Northern Trust by 3.1% during the 3rd quarter. US Bancorp DE now owns 53,634 shares of the asset manager’s stock worth $5,477,000 after buying an additional 1,631 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Northern Trust by 618.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 167,196 shares of the asset manager’s stock worth $17,096,000 after buying an additional 143,918 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Northern Trust by 8.2% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 24,575 shares of the asset manager’s stock worth $2,510,000 after buying an additional 1,872 shares during the last quarter. Sageworth Trust Co grew its stake in Northern Trust by 296.3% during the 3rd quarter. Sageworth Trust Co now owns 1,407 shares of the asset manager’s stock worth $144,000 after buying an additional 1,052 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in Northern Trust by 6.5% during the 3rd quarter. Arizona State Retirement System now owns 55,341 shares of the asset manager’s stock worth $5,652,000 after buying an additional 3,391 shares during the last quarter. 78.02% of the stock is currently owned by institutional investors.
Northern Trust stock opened at $93.61 on Friday. Northern Trust Co. has a twelve month low of $87.98 and a twelve month high of $115.61. The company has a quick ratio of 0.66, a current ratio of 0.65 and a debt-to-equity ratio of 0.36. The company has a market cap of $20.46 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 1.18 and a beta of 0.94.
Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, October 17th. The asset manager reported $1.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.03). The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.52 billion. Northern Trust had a return on equity of 15.75% and a net margin of 23.28%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.20 earnings per share. As a group, research analysts forecast that Northern Trust Co. will post 6.61 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Friday, December 14th will be issued a $0.55 dividend. The ex-dividend date is Thursday, December 13th. This represents a $2.20 annualized dividend and a dividend yield of 2.35%. Northern Trust’s dividend payout ratio is currently 45.55%.
Northern Trust announced that its board has approved a stock repurchase plan on Tuesday, July 17th that allows the company to repurchase 25,000,000 shares. This repurchase authorization allows the asset manager to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of research analysts recently issued reports on NTRS shares. Credit Suisse Group raised their price target on Northern Trust from $112.00 to $114.00 and gave the stock a “neutral” rating in a research note on Friday, August 10th. Deutsche Bank dropped their price target on Northern Trust from $116.00 to $115.00 and set a “hold” rating on the stock in a research note on Thursday, October 11th. Buckingham Research dropped their price target on Northern Trust from $119.00 to $114.00 and set a “neutral” rating on the stock in a research note on Thursday, October 18th. Raymond James dropped their price target on Northern Trust from $122.00 to $115.00 and set a “strong-buy” rating on the stock in a research note on Thursday, October 18th. Finally, Vining Sparks restated a “buy” rating and set a $130.00 price target on shares of Northern Trust in a research note on Monday, July 23rd. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Northern Trust has an average rating of “Buy” and a consensus price target of $117.00.
In other news, insider Peter Cherecwich sold 19,761 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $111.35, for a total value of $2,200,387.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jana R. Schreuder sold 9,699 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $110.00, for a total value of $1,066,890.00. The disclosure for this sale can be found here. Insiders sold a total of 50,812 shares of company stock valued at $5,639,698 over the last three months. Insiders own 1.04% of the company’s stock.
Northern Trust Profile
Northern Trust Corporation, a financial holding company, provides asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates through Corporate & Institutional Services (C&IS) and Wealth Management segments.
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