IndexIQ Advisors LLC Has $4.46 Million Position in Northern Trust Co. (NTRS)

IndexIQ Advisors LLC lessened its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 27.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,374 shares of the asset manager’s stock after selling 18,524 shares during the period. IndexIQ Advisors LLC’s holdings in Northern Trust were worth $4,464,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Northern Trust in the 4th quarter worth $366,000. Penobscot Investment Management Company Inc. increased its holdings in shares of Northern Trust by 10.0% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 12,615 shares of the asset manager’s stock worth $1,054,000 after buying an additional 1,150 shares during the last quarter. First Citizens Bank & Trust Co. increased its holdings in shares of Northern Trust by 86.8% in the 4th quarter. First Citizens Bank & Trust Co. now owns 19,673 shares of the asset manager’s stock worth $1,644,000 after buying an additional 9,140 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Northern Trust by 5.0% in the 4th quarter. Legal & General Group Plc now owns 986,183 shares of the asset manager’s stock worth $82,436,000 after buying an additional 47,277 shares during the last quarter. Finally, NuWave Investment Management LLC bought a new position in shares of Northern Trust in the 1st quarter worth $72,000. 78.89% of the stock is currently owned by institutional investors and hedge funds.

NTRS has been the topic of a number of research analyst reports. Credit Suisse Group reissued a “hold” rating and issued a $101.00 price target on shares of Northern Trust in a report on Tuesday, February 19th. Buckingham Research raised shares of Northern Trust from a “neutral” rating to a “buy” rating and increased their price target for the stock from $104.00 to $115.00 in a report on Thursday, March 14th. ValuEngine raised shares of Northern Trust from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Zacks Investment Research raised shares of Northern Trust from a “sell” rating to a “hold” rating in a report on Tuesday, March 12th. Finally, BidaskClub raised shares of Northern Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $109.92.

Shares of Northern Trust stock opened at $94.91 on Wednesday. Northern Trust Co. has a 52-week low of $75.96 and a 52-week high of $115.61. The firm has a market capitalization of $20.45 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.63 and a quick ratio of 0.63.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Tuesday, April 23rd. The asset manager reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.02. Northern Trust had a net margin of 22.44% and a return on equity of 16.03%. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the prior year, the company earned $1.58 EPS. The firm’s revenue was up .3% on a year-over-year basis. As a group, equities research analysts forecast that Northern Trust Co. will post 6.8 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.53%. Northern Trust’s dividend payout ratio (DPR) is 35.66%.

In other news, insider Teresa Parker sold 3,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $97.50, for a total value of $292,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.15% of the stock is currently owned by corporate insiders.

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About Northern Trust

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Corporate & Institutional Services (C&IS) and Wealth Management.

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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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