RNC Capital Management LLC Has $70.94 Million Stock Holdings in Northern Trust Corporation $NTRS

RNC Capital Management LLC raised its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 31.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 559,468 shares of the asset manager’s stock after purchasing an additional 134,688 shares during the period. Northern Trust makes up about 3.4% of RNC Capital Management LLC’s portfolio, making the stock its 3rd largest holding. RNC Capital Management LLC’s holdings in Northern Trust were worth $70,935,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of Northern Trust by 47.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager’s stock worth $178,637,000 after acquiring an additional 585,992 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Northern Trust by 4.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager’s stock worth $774,411,000 after acquiring an additional 363,472 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of Northern Trust by 8.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager’s stock worth $8,383,000 after acquiring an additional 6,570 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Northern Trust by 529.4% during the 1st quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager’s stock worth $45,515,000 after acquiring an additional 388,081 shares during the period. Finally, Kathmere Capital Management LLC lifted its holdings in shares of Northern Trust by 96.7% during the 1st quarter. Kathmere Capital Management LLC now owns 5,239 shares of the asset manager’s stock worth $517,000 after acquiring an additional 2,575 shares during the period. Institutional investors own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

NTRS has been the subject of a number of recent analyst reports. The Goldman Sachs Group set a $135.00 price target on shares of Northern Trust in a report on Tuesday, September 30th. Zacks Research cut shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Evercore ISI upped their price objective on shares of Northern Trust from $125.00 to $135.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Wells Fargo & Company upped their price objective on shares of Northern Trust from $120.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Friday, October 3rd. Finally, Wall Street Zen upgraded shares of Northern Trust from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Northern Trust has a consensus rating of “Hold” and an average target price of $128.23.

Insider Buying and Selling at Northern Trust

In other news, Director Robert Edward Jr. Moritz acquired 256 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was bought at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the transaction, the director directly owned 2,525 shares in the company, valued at $319,008.50. This represents a 11.28% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.77% of the stock is currently owned by company insiders.

Northern Trust Trading Down 2.4%

Shares of NASDAQ NTRS opened at $125.48 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.72. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $135.48. The firm has a 50 day moving average price of $129.66 and a two-hundred day moving average price of $117.33. The stock has a market cap of $24.00 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 1.43 and a beta of 1.31.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.03. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the prior year, the company posted $2.22 EPS. The company’s revenue was up 2.8% on a year-over-year basis. As a group, equities analysts forecast that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 5th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, December 5th. This represents a $3.20 annualized dividend and a dividend yield of 2.6%. Northern Trust’s dividend payout ratio is 37.60%.

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, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.