New York State Common Retirement Fund raised its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 2.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 469,000 shares of the asset manager’s stock after purchasing an additional 10,700 shares during the period. New York State Common Retirement Fund owned 0.21% of Northern Trust worth $43,115,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of NTRS. Arrowstreet Capital Limited Partnership increased its position in Northern Trust by 7,106.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 526,081 shares of the asset manager’s stock valued at $51,140,000 after purchasing an additional 518,781 shares during the period. Vanguard Group Inc. grew its position in shares of Northern Trust by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 14,255,623 shares of the asset manager’s stock worth $1,385,789,000 after buying an additional 363,691 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Northern Trust by 18.4% in the 2nd quarter. Wells Fargo & Company MN now owns 1,925,499 shares of the asset manager’s stock worth $187,177,000 after buying an additional 299,230 shares during the last quarter. Cortland Advisers LLC grew its position in shares of Northern Trust by 355.3% in the 2nd quarter. Cortland Advisers LLC now owns 302,078 shares of the asset manager’s stock worth $29,365,000 after buying an additional 235,727 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Northern Trust by 769.3% in the 2nd quarter. Janus Henderson Group PLC now owns 226,051 shares of the asset manager’s stock worth $21,974,000 after buying an additional 200,048 shares during the last quarter. 81.75% of the stock is currently owned by institutional investors and hedge funds.
Shares of Northern Trust Co. (NASDAQ NTRS) opened at $97.32 on Friday. The company has a market cap of $21,946.14, a P/E ratio of 21.07, a P/E/G ratio of 2.13 and a beta of 0.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust Co. has a 12 month low of $81.92 and a 12 month high of $99.66.
Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, October 18th. The asset manager reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.08. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Northern Trust had a net margin of 20.27% and a return on equity of 12.33%. Northern Trust’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period last year, the business earned $1.11 EPS. analysts anticipate that Northern Trust Co. will post 4.68 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 1st will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.73%. The ex-dividend date is Thursday, November 30th. Northern Trust’s payout ratio is 37.17%.
In other Northern Trust news, EVP Aileen B. Blake sold 1,000 shares of Northern Trust stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $92.00, for a total transaction of $92,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jana R. Schreuder sold 5,581 shares of Northern Trust stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $90.00, for a total transaction of $502,290.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 449,963 shares of company stock valued at $42,798,613. Company insiders own 1.27% of the company’s stock.
NTRS has been the topic of a number of analyst reports. Zacks Investment Research downgraded shares of Northern Trust from a “hold” rating to a “sell” rating in a research report on Monday, August 28th. UBS raised shares of Northern Trust from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $92.00 to $100.00 in a research report on Friday, September 8th. Bank of America set a $102.00 price objective on shares of Northern Trust and gave the stock a “buy” rating in a research report on Thursday, October 19th. Citigroup reaffirmed a “neutral” rating and issued a $92.00 price objective (up previously from $90.00) on shares of Northern Trust in a research report on Monday, October 9th. Finally, Morgan Stanley lifted their price objective on shares of Northern Trust from $83.00 to $91.00 and gave the stock an “underweight” rating in a research report on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Northern Trust has a consensus rating of “Hold” and a consensus target price of $97.07.
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About Northern Trust
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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