Oppenheimer Asset Management Inc. boosted its position in Northern Trust Co. (NASDAQ:NTRS) by 4.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,978 shares of the asset manager’s stock after purchasing an additional 851 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Northern Trust were worth $1,896,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in NTRS. Vanguard Group Inc lifted its stake in Northern Trust by 3.5% in the third quarter. Vanguard Group Inc now owns 15,444,690 shares of the asset manager’s stock valued at $1,577,366,000 after acquiring an additional 517,705 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Northern Trust by 1.5% in the fourth quarter. BlackRock Inc. now owns 14,047,694 shares of the asset manager’s stock worth $1,174,248,000 after buying an additional 204,918 shares during the last quarter. FMR LLC lifted its stake in shares of Northern Trust by 4.4% in the fourth quarter. FMR LLC now owns 8,211,012 shares of the asset manager’s stock worth $686,358,000 after buying an additional 347,051 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Northern Trust by 0.3% in the third quarter. JPMorgan Chase & Co. now owns 7,206,618 shares of the asset manager’s stock worth $736,014,000 after buying an additional 22,537 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Northern Trust by 0.5% in the fourth quarter. Northern Trust Corp now owns 6,809,886 shares of the asset manager’s stock worth $569,239,000 after buying an additional 34,732 shares during the last quarter. Institutional investors own 78.89% of the company’s stock.
In related news, insider Teresa Parker sold 3,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $97.50, for a total transaction of $292,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.15% of the stock is currently owned by corporate insiders.
Northern Trust stock traded down $1.20 during trading hours on Wednesday, reaching $93.36. 644,650 shares of the company’s stock traded hands, compared to its average volume of 1,208,495. The company has a market cap of $20.35 billion, a PE ratio of 13.87, a PEG ratio of 1.40 and a beta of 1.08. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.35. Northern Trust Co. has a fifty-two week low of $75.96 and a fifty-two week high of $115.61.
Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.47 billion. Northern Trust had a net margin of 22.44% and a return on equity of 16.03%. Northern Trust’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the company posted $1.58 EPS. Research analysts forecast that Northern Trust Co. will post 6.8 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $2.40 dividend on an annualized basis and a yield of 2.57%. Northern Trust’s payout ratio is 35.66%.
Several equities research analysts have issued reports on NTRS shares. BidaskClub lowered shares of Northern Trust from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. Vining Sparks reissued a “buy” rating and issued a $120.00 price target on shares of Northern Trust in a report on Wednesday, January 23rd. ValuEngine lowered shares of Northern Trust from a “hold” rating to a “sell” rating in a report on Monday, February 25th. Deutsche Bank upped their target price on shares of Northern Trust from $100.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Finally, Buckingham Research raised shares of Northern Trust from a “neutral” rating to a “buy” rating and upped their target price for the stock from $104.00 to $115.00 in a report on Thursday, March 14th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Northern Trust has a consensus rating of “Hold” and an average price target of $109.59.
ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Sundance Herald and is owned by of Sundance Herald. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://sundanceherald.com/2019/05/22/oppenheimer-asset-management-inc-buys-851-shares-of-northern-trust-co-ntrs.html.
Northern Trust Company Profile
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.
Read More: What is Elliott Wave theory?
Receive News & Ratings for Northern Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Trust and related companies with MarketBeat.com's FREE daily email newsletter.