US Bancorp DE decreased its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 6.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,084 shares of the asset manager’s stock after selling 3,299 shares during the quarter. US Bancorp DE’s holdings in Northern Trust were worth $4,057,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Litman Gregory Asset Management LLC acquired a new position in shares of Northern Trust during the 2nd quarter valued at about $25,000. Resources Investment Advisors Inc. boosted its position in shares of Northern Trust by 194.2% during the 1st quarter. Resources Investment Advisors Inc. now owns 306 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 202 shares during the last quarter. Trust Co. of Vermont boosted its position in shares of Northern Trust by 750.0% during the 2nd quarter. Trust Co. of Vermont now owns 340 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 300 shares during the last quarter. Kavar Capital Partners LLC acquired a new position in shares of Northern Trust during the 2nd quarter valued at about $32,000. Finally, Oakworth Capital Inc. acquired a new position in shares of Northern Trust during the 2nd quarter valued at about $34,000. 80.33% of the stock is currently owned by hedge funds and other institutional investors.
NTRS traded up $0.14 on Thursday, hitting $96.49. The company had a trading volume of 18,702 shares, compared to its average volume of 945,713. The firm has a market cap of $21.06 billion, a P/E ratio of 14.33, a PEG ratio of 1.74 and a beta of 1.19. Northern Trust Co. has a 1 year low of $75.96 and a 1 year high of $107.45. The company’s fifty day moving average price is $90.25 and its 200 day moving average price is $91.74. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40.
Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, July 24th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.07. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. Northern Trust had a net margin of 22.20% and a return on equity of 15.74%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.68 earnings per share. On average, analysts predict that Northern Trust Co. will post 6.6 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, September 12th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 2.90%. Northern Trust’s dividend payout ratio is 41.60%.
Several research analysts have recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Northern Trust from $89.00 to $93.00 and gave the company an “underweight” rating in a research report on Tuesday. Deutsche Bank reduced their price objective on shares of Northern Trust from $91.00 to $87.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Citigroup lowered shares of Northern Trust from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $94.00 to $85.00 in a report on Friday, July 12th. BidaskClub upgraded shares of Northern Trust from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Finally, Bank of America restated a “neutral” rating and issued a $97.00 price objective (down from $107.00) on shares of Northern Trust in a report on Thursday, June 6th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. Northern Trust currently has a consensus rating of “Hold” and an average target price of $104.28.
In other Northern Trust news, EVP Thomas A. South sold 1,000 shares of the business’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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Biff Bowman sold 46,204 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $92.81, for a total transaction of $4,288,193.24. The disclosure for this sale can be found here. Insiders have sold 100,411 shares of company stock worth $9,682,259 over the last quarter. Insiders own 1.15% of the company’s stock.
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.
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