Rampart Investment Management Company LLC grew its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 40.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,803 shares of the asset manager’s stock after purchasing an additional 814 shares during the quarter. Rampart Investment Management Company LLC’s holdings in Northern Trust were worth $252,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of NTRS. Asset Management One Co. Ltd. lifted its stake in shares of Northern Trust by 10.5% in the second quarter. Asset Management One Co. Ltd. now owns 109,801 shares of the asset manager’s stock worth $9,881,000 after acquiring an additional 10,420 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Northern Trust by 4.9% in the second quarter. Jacobs Levy Equity Management Inc. now owns 440,517 shares of the asset manager’s stock worth $39,647,000 after acquiring an additional 20,770 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of Northern Trust by 7.1% in the second quarter. Earnest Partners LLC now owns 103,950 shares of the asset manager’s stock worth $9,356,000 after acquiring an additional 6,880 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Northern Trust by 0.5% in the second quarter. BlackRock Inc. now owns 13,947,938 shares of the asset manager’s stock worth $1,255,316,000 after acquiring an additional 72,688 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of Northern Trust by 7.9% in the second quarter. Nomura Asset Management Co. Ltd. now owns 44,857 shares of the asset manager’s stock worth $4,037,000 after acquiring an additional 3,300 shares in the last quarter. Institutional investors own 80.33% of the company’s stock.
Several research analysts recently commented on NTRS shares. BidaskClub upgraded Northern Trust from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. Deutsche Bank cut their price target on Northern Trust from $91.00 to $87.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Morgan Stanley boosted their price target on Northern Trust from $89.00 to $93.00 and gave the stock an “underweight” rating in a research note on Tuesday. Citigroup cut Northern Trust from a “neutral” rating to a “sell” rating and cut their price target for the stock from $94.00 to $85.00 in a research note on Friday, July 12th. Finally, Bank of America restated a “neutral” rating and set a $97.00 price objective (down previously from $107.00) on shares of Northern Trust in a research note on Thursday, June 6th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $104.28.
In other news, EVP Robert P. Browne sold 21,612 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $99.61, for a total transaction of $2,152,771.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas A. South sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $98.54, for a total value of $98,540.00. The disclosure for this sale can be found here. Insiders have sold 100,411 shares of company stock worth $9,682,259 in the last 90 days. 1.15% of the stock is currently owned by insiders.
NASDAQ NTRS traded down $1.51 on Friday, hitting $94.27. 1,073,695 shares of the stock traded hands, compared to its average volume of 919,042. The stock has a 50-day moving average of $90.12 and a 200 day moving average of $91.77. Northern Trust Co. has a twelve month low of $75.96 and a twelve month high of $107.37. The company has a market capitalization of $20.70 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.71 and a beta of 1.19. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40.
Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.07. Northern Trust had a return on equity of 15.74% and a net margin of 22.20%. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the firm posted $1.68 earnings per share. Northern Trust’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities research analysts expect that Northern Trust Co. will post 6.6 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $2.80 annualized dividend and a yield of 2.97%. This is a boost from Northern Trust’s previous quarterly dividend of $0.60. Northern Trust’s dividend payout ratio is presently 41.60%.
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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