Lateef Investment Management L.P. trimmed its stake in Northern Trust Co. (NASDAQ:NTRS) by 96.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,097 shares of the asset manager’s stock after selling 276,185 shares during the quarter. Lateef Investment Management L.P.’s holdings in Northern Trust were worth $909,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Northern Trust by 1.7% during the 4th quarter. BlackRock Inc. now owns 13,568,183 shares of the asset manager’s stock worth $1,355,326,000 after acquiring an additional 230,925 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Northern Trust by 0.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,262,483 shares of the asset manager’s stock worth $759,569,000 after acquiring an additional 41,048 shares during the period. Geode Capital Management LLC boosted its stake in shares of Northern Trust by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 2,436,308 shares of the asset manager’s stock worth $242,889,000 after acquiring an additional 93,566 shares during the period. Burgundy Asset Management Ltd. boosted its stake in shares of Northern Trust by 0.3% during the 4th quarter. Burgundy Asset Management Ltd. now owns 2,393,055 shares of the asset manager’s stock worth $239,042,000 after acquiring an additional 6,255 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Northern Trust by 8.3% during the 4th quarter. Wells Fargo & Company MN now owns 2,106,085 shares of the asset manager’s stock worth $210,376,000 after purchasing an additional 160,702 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.
Several analysts recently weighed in on NTRS shares. Credit Suisse Group lifted their price target on Northern Trust from $99.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Morgan Stanley lifted their price target on Northern Trust from $104.00 to $110.00 and gave the stock an “underweight” rating in a report on Friday, February 2nd. BidaskClub raised Northern Trust from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Bank of America lifted their price target on Northern Trust from $112.00 to $116.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Zacks Investment Research cut Northern Trust from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $104.81.
Shares of Northern Trust stock traded down $1.51 during mid-day trading on Monday, reaching $105.70. The company had a trading volume of 250,041 shares, compared to its average volume of 1,210,541. The company has a market cap of $24,184.62, a price-to-earnings ratio of 21.79, a P/E/G ratio of 1.41 and a beta of 0.95. Northern Trust Co. has a twelve month low of $83.17 and a twelve month high of $110.81. 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 (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, January 24th. The asset manager reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. Northern Trust had a return on equity of 12.77% and a net margin of 20.98%. Northern Trust’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 EPS. sell-side analysts anticipate that Northern Trust Co. will post 6.1 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Friday, March 9th will be given a $0.42 dividend. The ex-dividend date is Thursday, March 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.59%. Northern Trust’s dividend payout ratio (DPR) is presently 34.15%.
In other Northern Trust news, EVP Wilson Leech sold 8,958 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $106.17, for a total value of $951,070.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jana R. Schreuder sold 4,807 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $110.00, for a total value of $528,770.00. The disclosure for this sale can be found here. Insiders sold a total of 189,457 shares of company stock worth $20,188,250 in the last quarter. Corporate insiders own 1.04% of the company’s stock.
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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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