British Airways Pensions Investment Management Ltd acquired a new stake in shares of Northern Trust Co. (NASDAQ:NTRS) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 118,200 shares of the asset manager’s stock, valued at approximately $12,069,000. British Airways Pensions Investment Management Ltd owned 0.05% of Northern Trust at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Natixis boosted its holdings in Northern Trust by 259.0% during the second quarter. Natixis now owns 210,250 shares of the asset manager’s stock worth $21,633,000 after buying an additional 151,678 shares in the last quarter. Morgan Stanley boosted its stake in Northern Trust by 29.0% in the 2nd quarter. Morgan Stanley now owns 911,274 shares of the asset manager’s stock worth $93,762,000 after purchasing an additional 205,050 shares during the period. Glen Harbor Capital Management LLC boosted its stake in Northern Trust by 12.9% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 71,744 shares of the asset manager’s stock worth $7,382,000 after purchasing an additional 8,176 shares during the period. Janus Henderson Group PLC boosted its stake in Northern Trust by 21.1% in the 2nd quarter. Janus Henderson Group PLC now owns 384,354 shares of the asset manager’s stock worth $39,546,000 after purchasing an additional 66,849 shares during the period. Finally, Capital Fund Management S.A. boosted its stake in Northern Trust by 26.4% in the 2nd quarter. Capital Fund Management S.A. now owns 12,000 shares of the asset manager’s stock worth $1,235,000 after purchasing an additional 2,505 shares during the period. Institutional investors and hedge funds own 77.89% of the company’s stock.
NTRS has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on shares of Northern Trust from $110.00 to $117.00 and gave the stock a “$108.44” rating in a research note on Thursday, July 19th. Zacks Investment Research raised shares of Northern Trust from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a research note on Friday, July 20th. Vining Sparks reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Northern Trust in a research note on Monday, July 23rd. UBS Group raised their price objective on shares of Northern Trust from $124.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, October 8th. Finally, Deutsche Bank raised shares of Northern Trust from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a research note on Thursday, October 18th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $117.00.
In other Northern Trust news, CFO Biff Bowman sold 21,352 shares of Northern Trust stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $111.11, for a total transaction of $2,372,420.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Cherecwich sold 19,761 shares of Northern Trust stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $111.35, for a total transaction of $2,200,387.35. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.
Shares of NASDAQ:NTRS opened at $95.49 on Tuesday. The firm has a market cap of $20.72 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 1.19 and a beta of 0.97. Northern Trust Co. has a 12-month low of $87.98 and a 12-month high of $115.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.65 and a quick ratio of 0.65.
Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, October 17th. The asset manager reported $1.58 earnings per share (EPS) 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 net margin of 23.28% and a return on equity of 15.75%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business earned $1.20 EPS. Equities analysts forecast that Northern Trust Co. will post 6.61 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Thursday, December 13th. Northern Trust’s dividend payout ratio (DPR) is currently 45.55%.
Northern Trust announced that its Board of Directors has initiated a share repurchase plan on Tuesday, July 17th that authorizes the company to buyback 25,000,000 shares. This buyback authorization authorizes the asset manager to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
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Northern Trust Company 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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