Dimensional Fund Advisors LP lifted its position in Northern Trust Co. (NASDAQ:NTRS) by 7.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,002,337 shares of the asset manager’s stock after purchasing an additional 65,272 shares during the quarter. Dimensional Fund Advisors LP owned 0.45% of Northern Trust worth $83,784,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of NTRS. Vanguard Group Inc boosted its holdings in Northern Trust by 3.5% in the third quarter. Vanguard Group Inc now owns 15,444,690 shares of the asset manager’s stock valued at $1,577,366,000 after acquiring an additional 517,705 shares during the last quarter. BlackRock Inc. raised its position in shares of Northern Trust by 1.5% during the fourth quarter. BlackRock Inc. now owns 14,047,694 shares of the asset manager’s stock worth $1,174,248,000 after purchasing an additional 204,918 shares during the period. JPMorgan Chase & Co. raised its position in shares of Northern Trust by 0.3% during the third quarter. JPMorgan Chase & Co. now owns 7,206,618 shares of the asset manager’s stock worth $736,014,000 after purchasing an additional 22,537 shares during the period. Northern Trust Corp raised its position in shares of Northern Trust by 0.5% during the fourth quarter. Northern Trust Corp now owns 6,809,886 shares of the asset manager’s stock worth $569,239,000 after purchasing an additional 34,732 shares during the period. Finally, Morgan Stanley raised its position in shares of Northern Trust by 112.2% during the third quarter. Morgan Stanley now owns 1,933,544 shares of the asset manager’s stock worth $197,472,000 after purchasing an additional 1,022,270 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.
In related news, insider Teresa Parker sold 3,000 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $97.50, for a total value of $292,500.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.15% of the company’s stock.
Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.02. Northern Trust had a return on equity of 16.03% and a net margin of 22.44%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the company earned $1.58 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. Analysts forecast that Northern Trust Co. will post 6.73 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.60 dividend. The ex-dividend date is Thursday, June 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.73%. Northern Trust’s dividend payout ratio (DPR) is presently 35.66%.
A number of equities research analysts have recently commented on the company. BidaskClub lowered Northern Trust from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Bank of America reiterated a “neutral” rating and set a $97.00 price objective (down from $107.00) on shares of Northern Trust in a report on Thursday, June 6th. Morgan Stanley decreased their price target on Northern Trust from $100.00 to $95.00 and set an “underweight” rating for the company in a research note on Wednesday, June 5th. Zacks Investment Research downgraded Northern Trust from a “buy” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Wells Fargo & Co lifted their target price on Northern Trust from $124.00 to $131.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Northern Trust currently has a consensus rating of “Hold” and an average price target of $110.33.
Northern Trust Company Profile
Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Corporate & Institutional Services (C&IS) and Wealth Management.
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