Oppenheimer Asset Management Inc. decreased its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 5.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,987 shares of the asset manager’s stock after selling 1,067 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Northern Trust were worth $1,358,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings in shares of Northern Trust by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 3,370,322 shares of the asset manager’s stock worth $357,395,000 after purchasing an additional 82,246 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Northern Trust by 12.7% during the first quarter. Bank of New York Mellon Corp now owns 2,120,786 shares of the asset manager’s stock valued at $160,036,000 after purchasing an additional 238,793 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Northern Trust by 1.2% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,756,805 shares of the asset manager’s stock valued at $186,618,000 after purchasing an additional 20,327 shares in the last quarter. Norges Bank bought a new position in shares of Northern Trust during the fourth quarter worth about $162,543,000. Finally, Confluence Investment Management LLC raised its position in shares of Northern Trust by 0.4% during the first quarter. Confluence Investment Management LLC now owns 1,253,162 shares of the asset manager’s stock worth $94,564,000 after acquiring an additional 4,488 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.
Shares of NTRS opened at $73.94 on Friday. The firm has a market cap of $15.38 billion, a PE ratio of 11.05, a PEG ratio of 1.29 and a beta of 1.09. The stock’s fifty day moving average price is $77.40 and its two-hundred day moving average price is $93.10. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.68 and a quick ratio of 0.68. Northern Trust Co. has a 1 year low of $60.67 and a 1 year high of $110.48.
Northern Trust (NASDAQ:NTRS) last issued its earnings results on Tuesday, April 21st. The asset manager reported $1.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.10. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.54 billion. Northern Trust had a return on equity of 15.18% and a net margin of 21.88%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.48 earnings per share. Sell-side analysts anticipate that Northern Trust Co. will post 5.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $2.80 annualized dividend and a dividend yield of 3.79%. Northern Trust’s payout ratio is presently 42.23%.
In related news, EVP Robert P. Browne sold 4,500 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $72.31, for a total transaction of $325,395.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.72% of the company’s stock.
NTRS has been the subject of a number of research analyst reports. BidaskClub downgraded Northern Trust from a “sell” rating to a “strong sell” rating in a report on Saturday, February 15th. Royal Bank of Canada reaffirmed a “buy” rating and set a $85.00 target price on shares of Northern Trust in a research report on Wednesday, April 8th. Citigroup cut their price objective on Northern Trust from $110.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Morgan Stanley boosted their price objective on Northern Trust from $69.00 to $73.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 22nd. Finally, Goldman Sachs Group cut Northern Trust from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $96.00 to $70.00 in a research report on Tuesday, March 24th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $84.14.
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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