MBB Public Markets I LLC acquired a new position in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 15,315 shares of the asset manager's stock, valued at approximately $1,286,000.
Other hedge funds have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its stake in shares of Northern Trust by 0.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager's stock valued at $3,608,000 after purchasing an additional 120 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Northern Trust by 1.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager's stock valued at $889,000 after purchasing an additional 131 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of Northern Trust by 23.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 805 shares of the asset manager's stock valued at $68,000 after purchasing an additional 151 shares during the last quarter. Harvest Investment Advisors LLC increased its stake in shares of Northern Trust by 1.0% in the 4th quarter. Harvest Investment Advisors LLC now owns 16,291 shares of the asset manager's stock valued at $1,375,000 after purchasing an additional 160 shares during the last quarter. Finally, First Trust Direct Indexing L.P. increased its stake in shares of Northern Trust by 4.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 4,257 shares of the asset manager's stock valued at $379,000 after purchasing an additional 182 shares during the last quarter. Institutional investors own 83.19% of the company's stock.
Northern Trust Stock Performance
Northern Trust stock traded down $1.31 during trading on Tuesday, hitting $88.72. The stock had a trading volume of 1,095,575 shares, compared to its average volume of 1,314,264. Northern Trust Co. has a 1 year low of $62.44 and a 1 year high of $92.82. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock's 50 day moving average is $87.94 and its two-hundred day moving average is $85.68. The stock has a market cap of $18.15 billion, a price-to-earnings ratio of 19.87, a price-to-earnings-growth ratio of 1.53 and a beta of 1.08.
Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.03. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The business's quarterly revenue was up 53.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.79 earnings per share. As a group, analysts predict that Northern Trust Co. will post 7.01 EPS for the current year.
Northern Trust Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a $0.75 dividend. The ex-dividend date is Friday, September 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.38%. Northern Trust's dividend payout ratio (DPR) is presently 66.23%.
Analysts Set New Price Targets
NTRS has been the topic of a number of research reports. The Goldman Sachs Group lowered Northern Trust from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $84.00 to $82.00 in a research report on Thursday, September 26th. Morgan Stanley boosted their price objective on Northern Trust from $93.00 to $97.00 and gave the company an "underweight" rating in a research note on Monday. Keefe, Bruyette & Woods dropped their price objective on Northern Trust from $92.00 to $85.00 and set a "market perform" rating on the stock in a research note on Thursday, June 27th. Deutsche Bank Aktiengesellschaft boosted their target price on Northern Trust from $84.00 to $94.00 and gave the company a "hold" rating in a research report on Monday, September 23rd. Finally, Royal Bank of Canada boosted their target price on Northern Trust from $86.00 to $90.00 and gave the company an "outperform" rating in a research report on Thursday, July 18th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Northern Trust has an average rating of "Hold" and an average price target of $89.75.
Check Out Our Latest Stock Report on Northern Trust
Insider Buying and Selling
In related news, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the sale, the director now owns 1,000 shares in the company, valued at $88,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the transaction, the director now owns 1,000 shares of the company's stock, valued at $88,120. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Teresa Parker sold 5,883 shares of the firm's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the transaction, the executive vice president now directly owns 83,765 shares in the company, valued at $7,041,285.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,738 shares of company stock worth $1,191,388. Corporate insiders own 0.64% of the company's stock.
Northern Trust Company Profile
(
Free Report)
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, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.
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