M&T Bank Corp trimmed its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 14.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,731 shares of the asset manager’s stock after selling 2,373 shares during the quarter. M&T Bank Corp’s holdings in Northern Trust were worth $1,372,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of NTRS. Alyeska Investment Group L.P. acquired a new position in shares of Northern Trust during the third quarter worth approximately $128,778,000. Bank of New York Mellon Corp raised its position in shares of Northern Trust by 14.9% during the third quarter. Bank of New York Mellon Corp now owns 1,965,535 shares of the asset manager’s stock worth $180,691,000 after purchasing an additional 255,106 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Northern Trust during the third quarter worth approximately $23,359,000. Janus Henderson Group PLC raised its position in shares of Northern Trust by 89.5% during the third quarter. Janus Henderson Group PLC now owns 428,273 shares of the asset manager’s stock worth $39,372,000 after purchasing an additional 202,222 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Northern Trust by 152.6% during the third quarter. Russell Investments Group Ltd. now owns 228,441 shares of the asset manager’s stock worth $20,998,000 after purchasing an additional 137,991 shares during the period. 80.69% of the stock is currently owned by institutional investors.
Northern Trust Co. (NTRS) opened at $104.86 on Monday. The stock has a market capitalization of $23,847.37, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. 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 $108.91.
Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, January 24th. The asset manager reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.41 billion. Northern Trust had a return on equity of 12.77% and a net margin of 20.98%. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.11 EPS. equities research analysts expect that Northern Trust Co. will post 6.02 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.68 annualized dividend and a dividend yield of 1.60%. Northern Trust’s payout ratio is 34.15%.
A number of research firms recently commented on NTRS. Sandler O’Neill reissued a “hold” rating and issued a $105.00 price target on shares of Northern Trust in a research report on Wednesday, January 10th. Wells Fargo & Co set a $105.00 price target on Northern Trust and gave the company a “hold” rating in a research report on Wednesday, December 20th. Royal Bank of Canada increased their price target on Northern Trust to $110.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. BidaskClub lowered Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Finally, Zacks Investment Research raised Northern Trust from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research report on Tuesday, December 19th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $104.81.
In other news, COO Jana R. Schreuder sold 2,600 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $99.02, for a total transaction of $257,452.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey D. Cohodes sold 11,982 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $98.75, for a total value of $1,183,222.50. Following the transaction, the insider now owns 37,936 shares of the company’s stock, valued at approximately $3,746,180. The disclosure for this sale can be found here. Insiders have sold a total of 198,655 shares of company stock valued at $19,906,776 in the last quarter. 1.27% of the stock is owned by corporate insiders.
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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.
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