Mondrian Investment Partners LTD cut its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 56.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 212,872 shares of the asset manager’s stock after selling 275,940 shares during the quarter. Mondrian Investment Partners LTD owned approximately 0.09% of Northern Trust worth $22,724,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Norinchukin Bank The grew its position in Northern Trust by 22.1% during the 1st quarter. Norinchukin Bank The now owns 13,151 shares of the asset manager’s stock worth $1,356,000 after acquiring an additional 2,384 shares during the last quarter. Great West Life Assurance Co. Can grew its position in Northern Trust by 3.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 390,064 shares of the asset manager’s stock worth $40,263,000 after acquiring an additional 12,582 shares during the last quarter. First Republic Investment Management Inc. grew its position in Northern Trust by 6.8% during the 1st quarter. First Republic Investment Management Inc. now owns 148,562 shares of the asset manager’s stock worth $15,321,000 after acquiring an additional 9,474 shares during the last quarter. Natixis Advisors L.P. grew its position in Northern Trust by 17.2% during the 1st quarter. Natixis Advisors L.P. now owns 42,494 shares of the asset manager’s stock worth $4,382,000 after acquiring an additional 6,228 shares during the last quarter. Finally, Spinnaker Trust bought a new position in Northern Trust during the 1st quarter worth approximately $299,000. Hedge funds and other institutional investors own 78.27% of the company’s stock.
Several equities analysts recently issued reports on NTRS shares. Zacks Investment Research upgraded 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. Credit Suisse Group raised their price target on Northern Trust from $103.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 18th. Royal Bank of Canada restated a “buy” rating on shares of Northern Trust in a research report on Wednesday, April 18th. Goldman Sachs Group upgraded Northern Trust from a “neutral” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Monday, April 2nd. Finally, Sandler O’Neill restated a “hold” rating and set a $108.00 price target on shares of Northern Trust in a research report on Monday, April 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $110.75.
Northern Trust opened at $106.61 on Friday, according to Marketbeat.com. Northern Trust Co. has a fifty-two week low of $85.69 and a fifty-two week high of $110.81. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market capitalization of $23.99 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 1.41 and a beta of 0.95.
Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Tuesday, April 17th. The asset manager reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.16. Northern Trust had a return on equity of 13.88% and a net margin of 21.84%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the business posted $1.09 EPS. The business’s revenue was up 14.8% on a year-over-year basis. research analysts expect that Northern Trust Co. will post 6.5 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, July 1st. Shareholders of record on Friday, June 8th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.58%. The ex-dividend date is Thursday, June 7th. Northern Trust’s dividend payout ratio (DPR) is currently 34.78%.
In other news, CFO Biff Bowman sold 13,811 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $108.53, for a total value of $1,498,907.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman William L. Morrison sold 46,053 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $109.18, for a total value of $5,028,066.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 118,281 shares of company stock valued at $12,768,827. Company insiders own 1.04% of the company’s stock.
About Northern Trust
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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