Keybank National Association OH increased its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 8.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 279,230 shares of the asset manager’s stock after buying an additional 21,071 shares during the period. Keybank National Association OH owned about 0.13% of Northern Trust worth $25,131,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. FMR LLC increased its holdings in Northern Trust by 4.8% during the first quarter. FMR LLC now owns 8,605,350 shares of the asset manager’s stock worth $778,009,000 after buying an additional 394,338 shares during the last quarter. American Century Companies Inc. increased its holdings in Northern Trust by 27.9% during the first quarter. American Century Companies Inc. now owns 5,452,010 shares of the asset manager’s stock worth $492,916,000 after buying an additional 1,190,787 shares during the last quarter. Geode Capital Management LLC increased its holdings in Northern Trust by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 2,953,900 shares of the asset manager’s stock worth $246,501,000 after buying an additional 174,874 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in Northern Trust by 3.7% during the first quarter. Champlain Investment Partners LLC now owns 1,723,450 shares of the asset manager’s stock worth $155,817,000 after buying an additional 60,785 shares during the last quarter. Finally, Confluence Investment Management LLC increased its holdings in Northern Trust by 0.9% during the second quarter. Confluence Investment Management LLC now owns 1,215,067 shares of the asset manager’s stock worth $109,356,000 after buying an additional 10,921 shares during the last quarter. Institutional investors and hedge funds own 79.89% of the company’s stock.
A number of analysts recently issued reports on NTRS shares. Deutsche Bank decreased their price objective on shares of Northern Trust from $93.00 to $91.00 and set a “hold” rating for the company in a report on Friday, August 9th. Wells Fargo & Co lifted their target price on shares of Northern Trust from $124.00 to $131.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Northern Trust from a “buy” rating to a “hold” rating in a research note on Friday, May 17th. Citigroup downgraded shares of Northern Trust from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $94.00 to $85.00 in a research note on Friday, July 12th. Finally, Bank of America reiterated a “neutral” rating and issued a $97.00 target price (down previously from $107.00) on shares of Northern Trust in a research note on Thursday, June 6th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $105.78.
In related news, CFO Biff Bowman sold 46,204 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $92.81, for a total transaction of $4,288,193.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert P. Browne sold 12,156 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $86.88, for a total transaction of $1,056,113.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,567 shares of company stock valued at $10,639,832. 1.15% of the stock is owned by corporate insiders.
Shares of NTRS traded down $2.78 during trading hours on Wednesday, hitting $86.09. The company’s stock had a trading volume of 52,166 shares, compared to its average volume of 1,229,528. The company has a market cap of $19.10 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average price of $92.33. Northern Trust Co. has a 52-week low of $75.96 and a 52-week high of $109.72.
Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.75 EPS for the quarter, beating the consensus estimate of $1.68 by $0.07. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Northern Trust had a net margin of 22.20% and a return on equity of 15.74%. Northern Trust’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.68 earnings per share. As a group, sell-side analysts anticipate that Northern Trust Co. will post 6.62 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, September 12th. This represents a $2.80 annualized dividend and a yield of 3.25%. This is a boost from Northern Trust’s previous quarterly dividend of $0.60. Northern Trust’s payout ratio is currently 35.66%.
Northern Trust Company Profile
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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