Mission Wealth Management LP boosted its position in Northern Trust Co. (NASDAQ:NTRS) by 23.8% during the fourth quarter, Holdings Channel reports. The fund owned 4,747 shares of the asset manager’s stock after acquiring an additional 913 shares during the period. Mission Wealth Management LP’s holdings in Northern Trust were worth $504,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the business. Smith Asset Management Group LP boosted its holdings in Northern Trust by 90.0% in the second quarter. Smith Asset Management Group LP now owns 380 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 180 shares during the period. Renaissance Technologies LLC lifted its position in Northern Trust by 288.1% in the second quarter. Renaissance Technologies LLC now owns 97,398 shares of the asset manager’s stock valued at $8,766,000 after acquiring an additional 72,300 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Northern Trust by 65.3% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,482,148 shares of the asset manager’s stock worth $943,393,000 after purchasing an additional 4,139,159 shares during the last quarter. Private Advisor Group LLC increased its position in Northern Trust by 177.0% during the second quarter. Private Advisor Group LLC now owns 8,330 shares of the asset manager’s stock worth $750,000 after buying an additional 5,323 shares during the period. Finally, Man Group plc grew its position in Northern Trust by 229.5% in the 2nd quarter. Man Group plc now owns 51,546 shares of the asset manager’s stock valued at $4,639,000 after buying an additional 35,903 shares during the last quarter. 81.88% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NTRS stock opened at $108.57 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.61 and a current ratio of 0.61. The business’s fifty day moving average is $107.46 and its 200-day moving average is $98.33. Northern Trust Co. has a 1 year low of $83.95 and a 1 year high of $110.48. The stock has a market cap of $23.18 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 1.61 and a beta of 1.22.
Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.06. Northern Trust had a net margin of 22.10% and a return on equity of 15.66%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the firm earned $1.58 earnings per share. The business’s quarterly revenue was up 4.1% on a year-over-year basis. Equities research analysts predict that Northern Trust Co. will post 6.65 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.58%. Northern Trust’s dividend payout ratio (DPR) is presently 41.60%.
Several research firms have issued reports on NTRS. Deutsche Bank increased their price objective on Northern Trust from $110.00 to $112.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Citigroup raised Northern Trust from a “sell” rating to a “neutral” rating and raised their price target for the stock from $92.00 to $110.00 in a research report on Monday, December 16th. Buckingham Research downgraded shares of Northern Trust from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $112.00 to $115.00 in a report on Thursday, January 9th. They noted that the move was a valuation call. JPMorgan Chase & Co. reduced 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. Finally, UBS Group increased their price target on shares of Northern Trust from $103.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $107.15.
In related news, CFO Biff Bowman sold 13,208 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $106.53, for a total transaction of $1,407,048.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert P. Browne sold 18,812 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $102.96, for a total value of $1,936,883.52. The disclosure for this sale can be found here. Insiders have sold a total of 68,280 shares of company stock valued at $7,207,481 over the last ninety days. Company 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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