Raymond James Financial Services Advisors Inc. lessened its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 7.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 73,585 shares of the asset manager’s stock after selling 5,779 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Northern Trust were worth $6,765,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Northern Trust by 2.6% during 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 in the last quarter. BlackRock Inc. raised its stake in Northern Trust by 0.3% in the second quarter. BlackRock Inc. now owns 13,318,550 shares of the asset manager’s stock valued at $1,294,697,000 after buying an additional 38,780 shares during the last quarter. Northern Trust Corp raised its stake in Northern Trust by 1.5% in the second quarter. Northern Trust Corp now owns 12,414,424 shares of the asset manager’s stock valued at $1,206,806,000 after buying an additional 184,112 shares during the last quarter. Burgundy Asset Management Ltd. raised its stake in Northern Trust by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 2,373,551 shares of the asset manager’s stock valued at $230,733,000 after buying an additional 32,849 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Northern Trust by 2.8% in the second quarter. Ameriprise Financial Inc. now owns 2,078,796 shares of the asset manager’s stock valued at $202,200,000 after buying an additional 56,465 shares during the last quarter. 81.75% of the stock is currently owned by institutional investors.
NTRS has been the subject of several research analyst reports. BidaskClub upgraded Northern Trust from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Zacks Investment Research lowered Northern Trust from a “hold” rating to a “sell” rating in a report on Monday, August 28th. Wells Fargo & Company initiated coverage on Northern Trust in a report on Wednesday, August 9th. They set a “market perform” rating and a $90.00 target price on the stock. Buckingham Research raised their price objective on Northern Trust from $95.00 to $97.00 and gave the company a “neutral” rating in a report on Thursday, October 19th. Finally, UBS raised their price objective on Northern Trust from $100.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $97.07.
Northern Trust (NASDAQ:NTRS) last posted its earnings results on Wednesday, October 18th. The asset manager reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.08. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Northern Trust had a return on equity of 12.33% and a net margin of 20.27%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.11 EPS. research analysts forecast that Northern Trust Co. will post 4.68 EPS for the current fiscal year.
The business 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 1.74%. The ex-dividend date is Thursday, November 30th. Northern Trust’s dividend payout ratio is presently 37.17%.
In related news, Chairman Frederick H. Waddell sold 177,964 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $95.64, for a total value of $17,020,476.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jana R. Schreuder sold 5,581 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $90.00, for a total value of $502,290.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 449,963 shares of company stock valued at $42,798,613. 1.27% of the stock is owned by company insiders.
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Northern Trust Company Profile
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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