Spinnaker Trust Purchases Shares of 2,900 Northern Trust (NTRS)

Spinnaker Trust purchased a new stake in Northern Trust (NASDAQ:NTRS) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,900 shares of the asset manager’s stock, valued at approximately $299,000.

Other large investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in Northern Trust by 8.3% in the fourth quarter. Wells Fargo & Company MN now owns 2,106,085 shares of the asset manager’s stock valued at $210,376,000 after buying an additional 160,702 shares in the last quarter. Toronto Dominion Bank boosted its position in Northern Trust by 13.5% in the fourth quarter. Toronto Dominion Bank now owns 92,652 shares of the asset manager’s stock valued at $9,255,000 after buying an additional 11,025 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Northern Trust by 8.8% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 119,860 shares of the asset manager’s stock valued at $11,973,000 after buying an additional 9,675 shares in the last quarter. SG Americas Securities LLC boosted its position in Northern Trust by 127.7% in the fourth quarter. SG Americas Securities LLC now owns 50,447 shares of the asset manager’s stock valued at $5,039,000 after buying an additional 28,291 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its position in Northern Trust by 203.7% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 343,424 shares of the asset manager’s stock valued at $34,303,000 after buying an additional 230,337 shares in the last quarter. Hedge funds and other institutional investors own 78.27% of the company’s stock.

In related news, COO Jana R. Schreuder sold 3,730 shares of the stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $105.14, for a total value of $392,172.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Biff Bowman sold 13,811 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $108.53, for a total transaction of $1,498,907.83. The disclosure for this sale can be found here. Insiders sold 118,281 shares of company stock worth $12,768,827 over the last 90 days. 1.04% of the stock is currently owned by company insiders.



A number of research firms have commented on NTRS. Zacks Investment Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating and set a $122.00 price target on the stock in a research report on Friday, April 20th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $110.00 price target on shares of Northern Trust in a research report on Wednesday, April 18th. Credit Suisse Group boosted their price target on shares of Northern Trust from $103.00 to $107.00 and gave the company a “neutral” rating in a research report on Wednesday, April 18th. Royal Bank of Canada reiterated a “buy” rating on shares of Northern Trust in a research report on Wednesday, April 18th. Finally, Sandler O’Neill reiterated a “hold” rating and set a $108.00 target price on shares of Northern Trust in a research report on Monday, April 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Northern Trust currently has an average rating of “Hold” and an average target price of $110.75.

Shares of Northern Trust opened at $107.53 on Friday, MarketBeat Ratings reports. Northern Trust has a 1 year low of $85.69 and a 1 year high of $110.81. The company has a market cap of $24.27 billion, a PE ratio of 22.26, a P/E/G ratio of 1.42 and a beta of 0.95. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.34.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Tuesday, April 17th. The asset manager reported $1.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.16. Northern Trust had a net margin of 21.84% and a return on equity of 13.88%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the business posted $1.09 earnings per share. Northern Trust’s revenue was up 14.8% compared to the same quarter last year. research analysts predict that Northern Trust will post 6.5 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, July 1st. Investors of record on Friday, June 8th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, June 7th. This represents a $1.68 annualized dividend and a yield of 1.56%. Northern Trust’s dividend payout ratio is currently 34.78%.

Northern Trust Profile

Northern Trust Corporation, a financial holding company, provides asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates through Corporate & Institutional Services (C&IS) and Wealth Management segments.

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

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