First Merchants Corp boosted its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,648 shares of the asset manager’s stock after acquiring an additional 802 shares during the quarter. First Merchants Corp’s holdings in Northern Trust were worth $4,108,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. NuWave Investment Management LLC bought a new stake in Northern Trust during the first quarter valued at about $72,000. Lantz Financial LLC grew its holdings in Northern Trust by 1.7% during the second quarter. Lantz Financial LLC now owns 20,829 shares of the asset manager’s stock valued at $1,914,000 after purchasing an additional 347 shares during the period. Speece Thorson Capital Group Inc. grew its holdings in Northern Trust by 14.0% during the first quarter. Speece Thorson Capital Group Inc. now owns 147,120 shares of the asset manager’s stock valued at $13,301,000 after purchasing an additional 18,084 shares during the period. Callahan Advisors LLC grew its holdings in Northern Trust by 5.5% during the first quarter. Callahan Advisors LLC now owns 73,522 shares of the asset manager’s stock valued at $6,647,000 after purchasing an additional 3,837 shares during the period. Finally, Mn Services Vermogensbeheer B.V. grew its holdings in Northern Trust by 0.5% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 117,775 shares of the asset manager’s stock valued at $10,648,000 after purchasing an additional 600 shares during the period. Institutional investors own 78.78% of the company’s stock.
In other Northern Trust news, EVP Robert P. Browne sold 12,156 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $86.88, for a total transaction of $1,056,113.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 65,363 shares of company stock worth $6,351,639. Company insiders own 1.15% of the company’s stock.
NASDAQ:NTRS opened at $93.76 on Monday. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $20.41 billion, a P/E ratio of 13.93, a P/E/G ratio of 1.78 and a beta of 1.16. Northern Trust Co. has a 12 month low of $75.96 and a 12 month high of $112.73. The stock has a 50-day moving average price of $91.57.
Northern Trust (NASDAQ:NTRS) last posted its earnings results on Wednesday, July 24th. The asset manager reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.07. Northern Trust had a return on equity of 15.74% and a net margin of 22.20%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the previous year, the business earned $1.68 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. Equities research analysts predict that Northern Trust Co. will post 6.64 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, September 12th. This is an increase from Northern Trust’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 2.99%. Northern Trust’s dividend payout ratio is 35.66%.
A number of equities analysts have recently weighed in on the company. BidaskClub raised Northern Trust from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Bank of America reaffirmed a “neutral” rating and issued a $97.00 price objective (down previously from $107.00) on shares of Northern Trust in a research note on Thursday, June 6th. Morgan Stanley upped their price objective on Northern Trust from $85.00 to $91.00 and gave the stock an “underweight” rating in a research note on Thursday, July 25th. Zacks Investment Research lowered Northern Trust from a “buy” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Deutsche Bank lowered Northern Trust from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $104.00 to $91.00 in a research note on Tuesday, June 18th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $105.92.
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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