Steward Partners Investment Advisory LLC purchased a new position in shares of Northern Trust Co. (NASDAQ:NTRS) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,732 shares of the asset manager’s stock, valued at approximately $251,000.
Other large investors have also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. increased its stake in shares of Northern Trust by 8.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 1,083 shares of the asset manager’s stock valued at $105,000 after purchasing an additional 83 shares during the last quarter. Dupont Capital Management Corp bought a new stake in Northern Trust during the 2nd quarter worth $107,000. Bessemer Group Inc. grew its position in Northern Trust by 16.9% during the 2nd quarter. Bessemer Group Inc. now owns 1,461 shares of the asset manager’s stock worth $143,000 after acquiring an additional 211 shares during the last quarter. MPS Loria Financial Planners LLC bought a new stake in Northern Trust during the 2nd quarter worth $134,000. Finally, Sun Life Financial INC grew its position in Northern Trust by 15,740.0% during the 2nd quarter. Sun Life Financial INC now owns 1,584 shares of the asset manager’s stock worth $154,000 after acquiring an additional 1,574 shares during the last quarter. 81.69% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on the company. Sandler O’Neill restated a “hold” rating and set a $105.00 price objective on shares of Northern Trust in a research report on Wednesday. Barclays lifted their target price on Northern Trust from $102.00 to $114.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $110.00 price objective on shares of Northern Trust in a research note on Friday, December 22nd. Wells Fargo & Co set a $105.00 price objective on Northern Trust and gave the company a “hold” rating in a research note on Wednesday, December 20th. Finally, Zacks Investment Research raised Northern Trust from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research note on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $100.20.
Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, October 18th. The asset manager reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.08. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Northern Trust had a return on equity of 12.33% and a net margin of 20.27%. Northern Trust’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.11 earnings per share. equities research analysts anticipate that Northern Trust Co. will post 4.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, January 1st. Shareholders of record on Friday, December 1st were given a dividend of $0.42 per share. The ex-dividend date was Thursday, November 30th. This represents a $1.68 annualized dividend and a dividend yield of 1.59%. Northern Trust’s dividend payout ratio is currently 37.09%.
In related news, Vice Chairman William L. Morrison sold 30,000 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $96.48, for a total value of $2,894,400.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Clair Joyce St sold 7,665 shares of the stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $95.00, for a total value of $728,175.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 323,382 shares of company stock worth $31,182,013. Company insiders own 1.27% of the company’s stock.
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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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