MARSHALL WACE ASIA Ltd purchased a new position in shares of Northern Trust Co. (NASDAQ:NTRS) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 48,576 shares of the asset manager’s stock, valued at approximately $4,961,000.
Several other institutional investors and hedge funds have also recently modified their holdings of NTRS. Vanguard Group Inc. grew its holdings in Northern Trust by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 15,444,690 shares of the asset manager’s stock valued at $1,577,366,000 after buying an additional 517,705 shares in the last quarter. BlackRock Inc. grew its holdings in Northern Trust by 2.8% in the 3rd quarter. BlackRock Inc. now owns 13,842,776 shares of the asset manager’s stock valued at $1,413,762,000 after buying an additional 378,260 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Northern Trust by 0.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,206,618 shares of the asset manager’s stock valued at $736,014,000 after buying an additional 22,537 shares in the last quarter. Primecap Management Co. CA grew its holdings in Northern Trust by 3.7% in the 3rd quarter. Primecap Management Co. CA now owns 3,401,381 shares of the asset manager’s stock valued at $347,383,000 after buying an additional 121,014 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Northern Trust by 8.7% in the 3rd quarter. Wells Fargo & Company MN now owns 2,596,225 shares of the asset manager’s stock valued at $265,152,000 after buying an additional 207,745 shares in the last quarter. Hedge funds and other institutional investors own 79.12% of the company’s stock.
NTRS traded down $0.65 during mid-day trading on Friday, hitting $90.29. 13,400 shares of the stock were exchanged, compared to its average volume of 850,147. Northern Trust Co. has a 1-year low of $87.98 and a 1-year high of $115.61. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.36. The firm has a market cap of $20.89 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 1.21 and a beta of 0.97.
Northern Trust (NASDAQ:NTRS) last posted its earnings results on Wednesday, October 17th. The asset manager reported $1.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by ($0.03). Northern Trust had a return on equity of 15.75% and a net margin of 23.28%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the company posted $1.20 EPS. Northern Trust’s revenue was up 9.4% on a year-over-year basis. On average, research analysts forecast that Northern Trust Co. will post 6.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Thursday, December 13th. Northern Trust’s payout ratio is 45.55%.
NTRS has been the subject of several analyst reports. Deutsche Bank dropped their target price on Northern Trust from $116.00 to $115.00 and set a “hold” rating for the company in a report on Thursday, October 11th. BidaskClub lowered Northern Trust from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 29th. Zacks Investment Research lowered Northern Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Buckingham Research decreased 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. Finally, Credit Suisse Group upped their price target on Northern Trust from $112.00 to $114.00 and gave the company a “neutral” rating in a research note on Friday, August 10th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $117.94.
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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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