Dearborn Partners LLC reduced its position in Northern Trust Co. (NASDAQ:NTRS) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,885 shares of the asset manager’s stock after selling 1,095 shares during the quarter. Dearborn Partners LLC’s holdings in Northern Trust were worth $7,313,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. First Mercantile Trust Co. increased its holdings in Northern Trust by 63.6% in the fourth quarter. First Mercantile Trust Co. now owns 360 shares of the asset manager’s stock valued at $30,000 after buying an additional 140 shares during the last quarter. Brand Asset Management Group Inc. bought a new stake in Northern Trust in the first quarter valued at about $38,000. Synovus Financial Corp increased its holdings in Northern Trust by 66.0% in the fourth quarter. Synovus Financial Corp now owns 503 shares of the asset manager’s stock valued at $43,000 after buying an additional 200 shares during the last quarter. Exane Asset Management bought a new stake in Northern Trust in the fourth quarter valued at about $44,000. Finally, Rehmann Capital Advisory Group increased its holdings in Northern Trust by 161.3% in the third quarter. Rehmann Capital Advisory Group now owns 473 shares of the asset manager’s stock valued at $48,000 after buying an additional 292 shares during the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on NTRS. Deutsche Bank lifted their target price on Northern Trust from $100.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Buckingham Research upgraded Northern Trust from a “neutral” rating to a “buy” rating and lifted their target price for the company from $104.00 to $115.00 in a research note on Thursday, March 14th. Zacks Investment Research upgraded Northern Trust from a “hold” rating to a “buy” rating and set a $111.00 target price for the company in a research note on Wednesday, May 8th. BidaskClub upgraded Northern Trust from a “sell” rating to a “hold” rating in a research note on Friday, April 5th. Finally, ValuEngine upgraded Northern Trust from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Northern Trust currently has an average rating of “Hold” and a consensus price target of $109.59.
Shares of NASDAQ NTRS traded up $1.21 during midday trading on Friday, hitting $91.34. 851,288 shares of the company’s stock were exchanged, compared to its average volume of 1,210,396. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.35. The company has a market cap of $20.58 billion, a PE ratio of 13.57, a P/E/G ratio of 1.42 and a beta of 1.08. Northern Trust Co. has a twelve month low of $75.96 and a twelve month high of $115.61.
Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Tuesday, April 23rd. The asset manager reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.02. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.47 billion. Northern Trust had a return on equity of 16.03% and a net margin of 22.44%. The business’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.58 earnings per share. Sell-side analysts forecast that Northern Trust Co. will post 6.8 earnings per share for the current fiscal 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 given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $2.40 annualized dividend and a dividend yield of 2.63%. Northern Trust’s dividend payout ratio is presently 35.66%.
In other news, insider Teresa Parker sold 3,000 shares of the business’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.15% of the company’s stock.
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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