Northern Trust Co. (NTRS) Shares Bought by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. lifted its stake in Northern Trust Co. (NASDAQ:NTRS) by 0.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,386,800 shares of the asset manager’s stock after purchasing an additional 13,249 shares during the period. Northern Trust comprises about 2.1% of Burgundy Asset Management Ltd.’s investment portfolio, making the stock its 18th largest position. Burgundy Asset Management Ltd. owned 1.05% of Northern Trust worth $219,419,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Salem Investment Counselors Inc. grew its holdings in shares of Northern Trust by 8.3% in the second quarter. Salem Investment Counselors Inc. now owns 1,083 shares of the asset manager’s stock worth $105,000 after purchasing an additional 83 shares during the last quarter. Dupont Capital Management Corp bought a new position in shares of Northern Trust in the second quarter worth about $107,000. MPS Loria Financial Planners LLC bought a new position in shares of Northern Trust in the second quarter worth about $134,000. Bessemer Group Inc. grew its holdings in shares of Northern Trust by 16.9% in the second quarter. Bessemer Group Inc. now owns 1,461 shares of the asset manager’s stock worth $143,000 after purchasing an additional 211 shares during the last quarter. Finally, Sun Life Financial INC grew its holdings in shares of Northern Trust by 15,740.0% in the second quarter. Sun Life Financial INC now owns 1,584 shares of the asset manager’s stock worth $154,000 after purchasing an additional 1,574 shares during the last quarter. Hedge funds and other institutional investors own 81.75% of the company’s stock.

In other news, Chairman Frederick H. Waddell sold 177,964 shares of the firm’s stock in a transaction dated Wednesday, October 18th. The shares were 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 can be accessed through this link. Also, Vice Chairman William L. Morrison sold 11,058 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $94.34, for a total transaction of $1,043,211.72. The disclosure for this sale can be found here. Insiders sold a total of 433,382 shares of company stock worth $41,304,013 over the last 90 days. Company insiders own 1.27% of the company’s stock.

NTRS has been the topic of several recent research reports. Zacks Investment Research cut shares of Northern Trust from a “hold” rating to a “sell” rating in a report on Monday, August 28th. UBS upgraded shares of Northern Trust from a “neutral” rating to a “buy” rating and increased their target price for the stock from $92.00 to $100.00 in a report on Friday, September 8th. Bank of America set a $102.00 target price on shares of Northern Trust and gave the stock a “buy” rating in a report on Thursday, October 19th. Citigroup reiterated a “neutral” rating and set a $92.00 target price (up from $90.00) on shares of Northern Trust in a report on Monday, October 9th. Finally, Morgan Stanley increased their target price on shares of Northern Trust from $83.00 to $91.00 and gave the stock an “underweight” rating in a report on Thursday, October 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $97.07.

Shares of Northern Trust Co. (NASDAQ NTRS) traded down $0.89 during trading on Friday, reaching $96.59. 594,200 shares of the company’s stock traded hands, compared to its average volume of 1,135,360. Northern Trust Co. has a one year low of $81.92 and a one year high of $99.66. The company has a market cap of $22,169.01, a PE ratio of 21.28, a price-to-earnings-growth ratio of 2.08 and a beta of 0.96. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.37.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, October 18th. The asset manager reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.08. Northern Trust had a net margin of 20.27% and a return on equity of 12.33%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the business earned $1.11 EPS. The company’s revenue was up 11.2% compared to the same quarter last year. research analysts predict that Northern Trust Co. will post 4.68 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 1st will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Thursday, November 30th. Northern Trust’s dividend payout ratio is currently 37.17%.

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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.

Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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