SG Americas Securities LLC boosted its position in Northern Trust Co. (NASDAQ:NTRS) by 86.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,341 shares of the asset manager’s stock after acquiring an additional 65,665 shares during the period. SG Americas Securities LLC owned 0.07% of Northern Trust worth $13,190,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. First Trust Advisors LP lifted its stake in Northern Trust by 19.6% in the third quarter. First Trust Advisors LP now owns 729,949 shares of the asset manager’s stock valued at $68,119,000 after buying an additional 119,765 shares during the period. Daiwa Securities Group Inc. lifted its stake in Northern Trust by 6.7% in the third quarter. Daiwa Securities Group Inc. now owns 8,683 shares of the asset manager’s stock valued at $810,000 after buying an additional 549 shares during the period. Keybank National Association OH lifted its stake in Northern Trust by 4.8% in the third quarter. Keybank National Association OH now owns 292,559 shares of the asset manager’s stock valued at $27,302,000 after buying an additional 13,329 shares during the period. Kornitzer Capital Management Inc. KS lifted its stake in Northern Trust by 5.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 49,077 shares of the asset manager’s stock valued at $4,580,000 after buying an additional 2,490 shares during the period. Finally, Provident Trust Co. acquired a new position in Northern Trust in the third quarter valued at about $467,000. Institutional investors and hedge funds own 81.52% of the company’s stock.
Several equities analysts have weighed in on NTRS shares. ValuEngine lowered Northern Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Citigroup set a $92.00 target price on Northern Trust and gave the company a “sell” rating in a research note on Friday, October 25th. Bank of America increased their target price on Northern Trust from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. BidaskClub raised Northern Trust from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Morgan Stanley cut their target price on Northern Trust from $93.00 to $90.00 and set an “underweight” rating on the stock in a research note on Friday, October 4th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $102.53.
In related news, EVP Robert P. Browne sold 10,680 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $101.56, for a total value of $1,084,660.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas A. South sold 1,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $98.54, for a total value of $98,540.00. The disclosure for this sale can be found here. Insiders have sold a total of 42,026 shares of company stock valued at $4,364,026 over the last quarter. 1.15% of the stock is currently owned by corporate insiders.
Shares of NASDAQ NTRS traded up $0.39 during mid-day trading on Friday, reaching $107.65. 880,500 shares of the company’s stock were exchanged, compared to its average volume of 1,164,009. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.41. Northern Trust Co. has a twelve month low of $75.96 and a twelve month high of $108.45. The business has a fifty day simple moving average of $95.80 and a 200 day simple moving average of $92.61. The firm has a market capitalization of $22.35 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 1.69 and a beta of 1.22.
Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, October 23rd. The asset manager reported $1.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.06. Northern Trust had a return on equity of 15.66% and a net margin of 22.10%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the company posted $1.58 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts predict that Northern Trust Co. will post 6.66 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, December 12th. This represents a $2.80 annualized dividend and a dividend yield of 2.60%. Northern Trust’s dividend payout ratio is currently 41.60%.
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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