Van Hulzen Asset Management LLC decreased its position in shares of Northern Trust (NASDAQ:NTRS) by 85.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,703 shares of the asset manager’s stock after selling 16,442 shares during the quarter. Van Hulzen Asset Management LLC’s holdings in Northern Trust were worth $279,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Field & Main Bank purchased a new stake in shares of Northern Trust during the 4th quarter worth approximately $100,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Northern Trust during the 1st quarter worth approximately $103,000. Truewealth LLC purchased a new stake in shares of Northern Trust during the 4th quarter worth approximately $110,000. Cerebellum GP LLC purchased a new stake in shares of Northern Trust during the 4th quarter worth approximately $132,000. Finally, Bray Capital Advisors acquired a new position in shares of Northern Trust during the 1st quarter worth approximately $188,000. 79.78% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on NTRS shares. Zacks Investment Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating and set a $122.00 price objective for the company in a research report on Friday, April 20th. Credit Suisse Group boosted their price target on Northern Trust from $103.00 to $107.00 and gave the company a “neutral” rating in a report on Wednesday, April 18th. Royal Bank of Canada reiterated a “buy” rating on shares of Northern Trust in a report on Wednesday, April 18th. Goldman Sachs upgraded Northern Trust from a “neutral” rating to a “buy” rating and set a $121.00 price target for the company in a report on Monday, April 2nd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $108.00 price target on shares of Northern Trust in a report on Thursday, April 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $110.75.
Shares of Northern Trust opened at $108.64 on Tuesday, MarketBeat.com reports. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.66 and a quick ratio of 0.66. Northern Trust has a twelve month low of $108.14 and a twelve month high of $109.40. The firm has a market cap of $24.51 billion, a P/E ratio of 22.49, a price-to-earnings-growth ratio of 1.44 and a beta of 0.95.
Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Tuesday, April 17th. The asset manager reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.16. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Northern Trust had a net margin of 21.84% and a return on equity of 13.88%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 EPS. sell-side analysts expect that Northern Trust will post 6.49 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, July 1st. Shareholders of record on Friday, June 8th will be given a $0.42 dividend. The ex-dividend date is Thursday, June 7th. This represents a $1.68 dividend on an annualized basis and a yield of 1.55%. Northern Trust’s payout ratio is currently 34.78%.
In other Northern Trust news, insider Jeffrey D. Cohodes sold 14,979 shares of the company’s stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $105.15, for a total value of $1,575,041.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman William L. Morrison sold 20,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $105.08, for a total transaction of $2,101,600.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 142,266 shares of company stock valued at $15,283,782. 1.04% of the stock is currently owned by corporate insiders.
Northern Trust Company Profile
Northern Trust Corporation, a financial holding company, provides asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates through Corporate & Institutional Services (C&IS) and Wealth Management segments.
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