Whitnell & Co. grew its holdings in Northern Trust Co. (NASDAQ:NTRS) by 285.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,800 shares of the asset manager’s stock after purchasing an additional 8,000 shares during the quarter. Whitnell & Co.’s holdings in Northern Trust were worth $1,008,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Eagle Ridge Investment Management increased its holdings in shares of Northern Trust by 4.0% during the 3rd quarter. Eagle Ridge Investment Management now owns 2,662 shares of the asset manager’s stock worth $248,000 after buying an additional 102 shares during the last quarter. Signaturefd LLC increased its holdings in Northern Trust by 18.0% in the 3rd quarter. Signaturefd LLC now owns 766 shares of the asset manager’s stock valued at $71,000 after purchasing an additional 117 shares during the last quarter. Strs Ohio increased its holdings in Northern Trust by 2.1% in the 2nd quarter. Strs Ohio now owns 6,242 shares of the asset manager’s stock valued at $561,000 after purchasing an additional 126 shares during the last quarter. Welch & Forbes LLC increased its holdings in Northern Trust by 1.8% in the 3rd quarter. Welch & Forbes LLC now owns 7,223 shares of the asset manager’s stock valued at $674,000 after purchasing an additional 127 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Northern Trust by 0.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 23,331 shares of the asset manager’s stock valued at $2,100,000 after purchasing an additional 136 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.
In other Northern Trust news, EVP Robert P. Browne sold 18,812 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $102.96, for a total value of $1,936,883.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thomas A. South sold 1,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $98.54, for a total transaction of $98,540.00. The disclosure for this sale can be found here. Insiders have sold 42,026 shares of company stock worth $4,364,026 over the last 90 days. 1.15% of the stock is currently owned by company insiders.
Several analysts recently weighed in on NTRS shares. UBS Group downgraded shares of Northern Trust from a “buy” rating to a “neutral” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. dropped their target price on shares of Northern Trust from $101.50 to $98.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. BidaskClub upgraded shares of Northern Trust from a “hold” rating to a “buy” rating in a report on Thursday. Morgan Stanley dropped their target price on shares of Northern Trust from $93.00 to $90.00 and set an “underweight” rating for the company in a report on Friday, October 4th. Finally, Citigroup set a $92.00 target price on shares of Northern Trust and gave the company a “sell” rating in a report on Friday, October 25th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. Northern Trust currently has an average rating of “Hold” and a consensus target price of $102.53.
NTRS traded up $0.39 on Friday, reaching $107.65. The company had a trading volume of 880,500 shares, compared to its average volume of 1,164,009. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average price of $95.80 and a 200-day moving average price of $92.61. Northern Trust Co. has a 1 year low of $75.96 and a 1 year high of $108.45. The stock has a market capitalization of $22.35 billion, a PE ratio of 16.00, a P/E/G ratio of 1.69 and a beta of 1.22.
Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, October 23rd. The asset manager reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.06. Northern Trust had a net margin of 22.10% and a return on equity of 15.66%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the business posted $1.58 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, analysts expect that Northern Trust Co. will post 6.66 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, December 12th. This represents a $2.80 annualized dividend and a yield of 2.60%. Northern Trust’s payout ratio is currently 41.60%.
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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