Sumitomo Mitsui Trust Holdings Inc. Boosts Stake in Northern Trust Co. (NTRS)

Sumitomo Mitsui Trust Holdings Inc. Boosts Stake in Northern Trust Co. (NTRS)

Sumitomo Mitsui Trust Holdings Inc. raised its position in Northern Trust Co. (NASDAQ:NTRS) by 3.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 605,559 shares of the asset manager’s stock after buying an additional 19,260 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.26% of Northern Trust worth $52,429,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in NTRS. PNC Financial Services Group Inc. raised its stake in shares of Northern Trust by 6.6% in the third quarter. PNC Financial Services Group Inc. now owns 1,591,920 shares of the asset manager’s stock worth $108,235,000 after buying an additional 98,312 shares in the last quarter. Marble Harbor Investment Counsel LLC raised its stake in shares of Northern Trust by 1.7% in the third quarter. Marble Harbor Investment Counsel LLC now owns 111,761 shares of the asset manager’s stock worth $7,599,000 after buying an additional 1,820 shares in the last quarter. Mizuho Trust & Banking Co. Ltd. raised its stake in shares of Northern Trust by 0.5% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 334,643 shares of the asset manager’s stock worth $22,752,000 after buying an additional 1,637 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Northern Trust by 182.4% in the third quarter. Quantbot Technologies LP now owns 14,210 shares of the asset manager’s stock worth $966,000 after buying an additional 9,179 shares in the last quarter. Finally, Simmons Bank raised its stake in shares of Northern Trust by 3.3% in the third quarter. Simmons Bank now owns 10,232 shares of the asset manager’s stock worth $696,000 after buying an additional 329 shares in the last quarter. 79.48% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Co. (NASDAQ:NTRS) traded down 0.01% during mid-day trading on Friday, reaching $90.53. 1,038,889 shares of the company’s stock traded hands. The stock has a market cap of $20.78 billion, a P/E ratio of 20.67 and a beta of 1.05. Northern Trust Co. has a 12 month low of $61.32 and a 12 month high of $92.29. The company has a 50 day moving average price of $87.55 and a 200-day moving average price of $85.00.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Tuesday, April 25th. The asset manager reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.02. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Northern Trust had a return on equity of 11.68% and a net margin of 19.76%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 EPS. On average, analysts anticipate that Northern Trust Co. will post $4.80 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Friday, June 2nd will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Wednesday, May 31st. Northern Trust’s payout ratio is 35.43%.

A number of brokerages have recently commented on NTRS. Credit Suisse Group AG reissued a “hold” rating and issued a $90.00 price objective on shares of Northern Trust in a research report on Friday. Deutsche Bank AG reaffirmed a “hold” rating and set a $96.00 price target (up from $93.00) on shares of Northern Trust in a research report on Saturday, April 29th. Jefferies Group LLC raised shares of Northern Trust from a “hold” rating to a “buy” rating and upped their price target for the stock from $90.00 to $102.00 in a research report on Tuesday, April 11th. Finally, Zacks Investment Research lowered shares of Northern Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, January 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $86.95.

In other news, Chairman Frederick H. Waddell sold 205,923 shares of Northern Trust stock in a transaction on Friday, May 5th. The stock was sold at an average price of $90.46, for a total transaction of $18,627,794.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jana R. Schreuder sold 28,469 shares of Northern Trust stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $92.00, for a total value of $2,619,148.00. The disclosure for this sale can be found here. Insiders have sold a total of 557,150 shares of company stock worth $49,776,618 over the last quarter. Company insiders own 1.90% of the company’s stock.

About Northern Trust

Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.

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