BlackRock Inc. increased its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,568,183 shares of the asset manager’s stock after buying an additional 230,925 shares during the period. BlackRock Inc. owned 5.97% of Northern Trust worth $1,355,326,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Field & Main Bank purchased a new stake in Northern Trust during the fourth quarter worth $100,000. Cerebellum GP LLC purchased a new stake in Northern Trust during the fourth quarter worth $132,000. Cetera Investment Advisers purchased a new stake in Northern Trust during the second quarter worth $205,000. Hollencrest Capital Management purchased a new stake in Northern Trust during the fourth quarter worth $210,000. Finally, Legacy Capital Partners Inc. purchased a new stake in Northern Trust during the fourth quarter worth $210,000. 78.94% of the stock is currently owned by hedge funds and other institutional investors.
In other news, COO Jana R. Schreuder sold 3,730 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $105.14, for a total value of $392,172.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Aileen B. Blake sold 3,000 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $105.32, for a total transaction of $315,960.00. The disclosure for this sale can be found here. Insiders sold 178,650 shares of company stock valued at $19,018,740 over the last quarter. Company insiders own 1.27% of the company’s stock.
A number of analysts recently issued reports on NTRS shares. Wells Fargo & Co set a $105.00 price target on shares of Northern Trust and gave the stock a “hold” rating in a report on Wednesday, December 20th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $110.00 price target on shares of Northern Trust in a report on Friday, December 22nd. BidaskClub raised shares of Northern Trust from a “hold” rating to a “buy” rating in a report on Saturday, January 13th. Barclays increased their price objective on shares of Northern Trust from $102.00 to $114.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Finally, Royal Bank of Canada increased their price objective on shares of Northern Trust to $110.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Northern Trust has a consensus rating of “Hold” and a consensus price target of $104.81.
Shares of Northern Trust Co. (NASDAQ:NTRS) opened at $106.72 on Wednesday. The company has a market cap of $24,072.02, a PE ratio of 21.69, a PEG ratio of 1.39 and a beta of 0.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust Co. has a 12-month low of $83.17 and a 12-month high of $109.89.
Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, January 24th. The asset manager reported $1.35 EPS for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.05. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Northern Trust had a net margin of 20.98% and a return on equity of 12.77%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.11 earnings per share. sell-side analysts anticipate that Northern Trust Co. will post 6.11 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, March 8th. Northern Trust’s dividend payout ratio (DPR) is 34.15%.
Northern Trust Company Profile
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.