SG Americas Securities LLC raised its stake in Northern Trust Co. (NASDAQ:NTRS) by 86.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 141,341 shares of the asset manager’s stock after buying an additional 65,665 shares during the period. SG Americas Securities LLC’s holdings in Northern Trust were worth $13,190,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. First Trust Advisors LP grew its position in shares of Northern Trust by 19.6% in the 3rd 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 last quarter. Daiwa Securities Group Inc. boosted its position in shares of Northern Trust by 6.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,683 shares of the asset manager’s stock valued at $810,000 after purchasing an additional 549 shares in the last quarter. Keybank National Association OH boosted its position in shares of Northern Trust by 4.8% during the 3rd quarter. Keybank National Association OH now owns 292,559 shares of the asset manager’s stock valued at $27,302,000 after purchasing an additional 13,329 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its position in shares of Northern Trust by 5.3% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 49,077 shares of the asset manager’s stock valued at $4,580,000 after purchasing an additional 2,490 shares in the last quarter. Finally, Provident Trust Co. bought a new stake in shares of Northern Trust during the 3rd quarter valued at about $467,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.
In other Northern Trust news, EVP Robert P. Browne sold 10,680 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $101.56, for a total transaction of $1,084,660.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas A. South sold 1,000 shares of the 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 42,026 shares of company stock valued at $4,364,026 over the last ninety days. 1.15% of the stock is currently owned by company insiders.
NTRS has been the topic of several research analyst reports. 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 report on Friday, October 4th. Wells Fargo & Co set a $110.00 target price on Northern Trust and gave the company a “buy” rating in a research report on Friday, August 16th. BidaskClub upgraded Northern Trust from a “hold” rating to a “buy” rating in a research report on Thursday. Bank of America upped their target price on Northern Trust from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. cut their target price on Northern Trust from $101.50 to $98.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $102.53.
NTRS stock traded up $0.39 during trading on Friday, reaching $107.65. 880,500 shares of the 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. The firm has a market cap of $22.35 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 1.69 and a beta of 1.22. The firm’s 50 day moving average is $95.80 and its 200 day moving average is $92.61. Northern Trust Co. has a twelve month low of $75.96 and a twelve month high of $108.45.
Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.69 EPS for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.06. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. Northern Trust had a return on equity of 15.66% and a net margin of 22.10%. Northern Trust’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the business posted $1.58 earnings per share. As a group, analysts predict that Northern Trust Co. will post 6.66 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Thursday, December 12th. Northern Trust’s payout ratio is 41.60%.
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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