Ropes Wealth Advisors LLC Boosts Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Ropes Wealth Advisors LLC increased its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 147.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,446 shares of the asset manager’s stock after purchasing an additional 12,786 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Northern Trust were worth $2,539,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of NTRS. BlackRock Inc. lifted its stake in shares of Northern Trust by 3.9% in the 1st quarter. BlackRock Inc. now owns 14,498,779 shares of the asset manager’s stock valued at $1,523,965,000 after purchasing an additional 546,512 shares in the last quarter. NN Investment Partners Holdings N.V. lifted its stake in shares of Northern Trust by 7.1% in the 1st quarter. NN Investment Partners Holdings N.V. now owns 2,116,275 shares of the asset manager’s stock valued at $222,441,000 after purchasing an additional 140,461 shares in the last quarter. Norges Bank acquired a new position in shares of Northern Trust in the 4th quarter valued at about $177,600,000. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Northern Trust by 11.8% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,586,206 shares of the asset manager’s stock valued at $147,717,000 after purchasing an additional 167,859 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Northern Trust by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,259,052 shares of the asset manager’s stock valued at $117,250,000 after purchasing an additional 28,534 shares in the last quarter. Hedge funds and other institutional investors own 81.06% of the company’s stock.

In related news, CEO Michael O’grady sold 42,638 shares of the company’s stock in a transaction on Wednesday, May 5th. The stock was sold at an average price of $117.52, for a total transaction of $5,010,817.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Peter Cherecwich sold 15,000 shares of the company’s stock in a transaction on Monday, May 17th. The stock was sold at an average price of $120.51, for a total value of $1,807,650.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 141,276 shares of company stock valued at $16,518,831. 0.69% of the stock is owned by company insiders.

Several equities analysts recently commented on NTRS shares. Royal Bank of Canada boosted their price target on Northern Trust from $108.00 to $117.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 21st. Deutsche Bank Aktiengesellschaft boosted their price target on Northern Trust from $110.00 to $117.00 and gave the stock a “buy” rating in a research report on Friday, April 9th. Morgan Stanley reduced their price target on Northern Trust from $131.00 to $126.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 21st. Barclays boosted their price target on Northern Trust from $105.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 7th. Finally, Wells Fargo & Company upped their target price on Northern Trust from $112.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, April 1st. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Northern Trust has a consensus rating of “Hold” and a consensus target price of $103.56.

Shares of NASDAQ NTRS traded up $0.89 during trading on Friday, reaching $118.01. The stock had a trading volume of 3,290 shares, compared to its average volume of 940,816. Northern Trust Co. has a one year low of $72.64 and a one year high of $123.10. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $24.56 billion, a PE ratio of 20.91, a PEG ratio of 1.18 and a beta of 1.10. The stock has a 50 day simple moving average of $114.76.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Monday, April 19th. The asset manager reported $1.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.21. Northern Trust had a return on equity of 12.22% and a net margin of 19.78%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the business earned $1.55 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. On average, sell-side analysts expect that Northern Trust Co. will post 6.88 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Friday, June 11th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, June 10th. This represents a $2.80 dividend on an annualized basis and a yield of 2.37%. Northern Trust’s payout ratio is currently 48.03%.

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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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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