Northern Trust Corp Reduces Holdings in Northern Trust Co. (NASDAQ:NTRS)

Northern Trust Corp cut its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,747,888 shares of the asset manager’s stock after selling 61,998 shares during the quarter. Northern Trust Corp owned approximately 3.10% of Northern Trust worth $610,076,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Resources Investment Advisors Inc. boosted its stake in shares of Northern Trust by 194.2% during the first quarter. Resources Investment Advisors Inc. now owns 306 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 202 shares in the last quarter. First Mercantile Trust Co. boosted its stake 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 acquiring an additional 140 shares in the last quarter. Parallel Advisors LLC boosted its stake in Northern Trust by 93.5% in the first quarter. Parallel Advisors LLC now owns 389 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 188 shares in the last quarter. Brand Asset Management Group Inc. acquired a new stake in Northern Trust in the first quarter valued at approximately $38,000. Finally, Synovus Financial Corp boosted its stake 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 acquiring an additional 200 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

NTRS has been the subject of several research reports. BidaskClub upgraded shares of Northern Trust from a “sell” rating to a “hold” rating in a research note on Friday, April 5th. Morgan Stanley lowered their price objective on shares of Northern Trust from $100.00 to $95.00 and set an “underweight” rating for the company in a research note on Wednesday, June 5th. Zacks Investment Research cut shares of Northern Trust from a “buy” rating to a “hold” rating in a report on Friday, May 17th. Finally, Bank of America reissued a “neutral” rating and set a $97.00 target price (down previously from $107.00) on shares of Northern Trust in a report on Thursday, June 6th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $109.20.

Shares of NASDAQ:NTRS traded up $2.16 during trading hours on Friday, reaching $90.00. The stock had a trading volume of 2,889,300 shares, compared to its average volume of 1,222,809. Northern Trust Co. has a 1 year low of $75.96 and a 1 year high of $115.61. The business’s 50 day moving average is $89.63. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.35. The stock has a market cap of $18.88 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 1.33 and a beta of 1.16.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Tuesday, April 23rd. The asset manager reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.02. Northern Trust had a net margin of 22.44% and a return on equity of 16.03%. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the prior year, the business posted $1.58 EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts anticipate that Northern Trust Co. will post 6.68 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Thursday, June 13th. Northern Trust’s payout ratio is 35.66%.

In related news, EVP Robert P. Browne sold 12,156 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $86.88, for a total transaction of $1,056,113.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Teresa Parker sold 3,000 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $97.50, for a total transaction of $292,500.00. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company’s stock.

Northern Trust 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.

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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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