Associated Banc Corp raised its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 0.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,404 shares of the asset manager’s stock after buying an additional 103 shares during the quarter. Associated Banc Corp’s holdings in Northern Trust were worth $3,291,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Northern Trust during the 4th quarter valued at approximately $366,000. Penobscot Investment Management Company Inc. boosted its holdings in shares of Northern Trust by 10.0% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 12,615 shares of the asset manager’s stock worth $1,054,000 after purchasing an additional 1,150 shares during the period. Legal & General Group Plc boosted its holdings in shares of Northern Trust by 5.0% in the 4th quarter. Legal & General Group Plc now owns 986,183 shares of the asset manager’s stock worth $82,436,000 after purchasing an additional 47,277 shares during the period. NuWave Investment Management LLC purchased a new position in shares of Northern Trust in the 1st quarter worth approximately $72,000. Finally, Dearborn Partners LLC boosted its holdings in shares of Northern Trust by 37.2% in the 4th quarter. Dearborn Partners LLC now owns 81,980 shares of the asset manager’s stock worth $6,853,000 after purchasing an additional 22,247 shares during the period. Institutional investors and hedge funds own 78.89% of the company’s stock.
In related news, insider Teresa Parker sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $97.50, for a total transaction of $292,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.15% of the stock is currently owned by company insiders.
Shares of NTRS stock opened at $94.78 on Friday. Northern Trust Co. has a 52-week low of $75.96 and a 52-week high of $115.61. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market cap of $20.51 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08.
Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.02. Northern Trust had a return on equity of 16.03% and a net margin of 22.44%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the company earned $1.58 EPS. Northern Trust’s quarterly revenue was up .3% compared to the same quarter last year. Research analysts expect that Northern Trust Co. will post 6.8 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Thursday, June 13th. Northern Trust’s dividend payout ratio is currently 35.66%.
A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded Northern Trust from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a report on Thursday. Wells Fargo & Co lifted their target price on Northern Trust from $124.00 to $131.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. They noted that the move was a valuation call. BidaskClub upgraded Northern Trust from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. ValuEngine upgraded Northern Trust from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Finally, Deutsche Bank lifted their target price on Northern Trust from $100.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. Northern Trust currently has an average rating of “Hold” and an average target price of $109.59.
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About Northern Trust
Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Corporate & Institutional Services (C&IS) and Wealth Management.
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