Fairpointe Capital LLC reduced its holdings in Northern Trust Co. (NASDAQ:NTRS) by 19.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 640,698 shares of the asset manager’s stock after selling 156,650 shares during the quarter. Northern Trust accounts for 3.0% of Fairpointe Capital LLC’s holdings, making the stock its 10th biggest position. Fairpointe Capital LLC owned about 0.30% of Northern Trust worth $59,790,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in NTRS. BlackRock Inc. grew its holdings in shares of Northern Trust by 0.5% in the 2nd quarter. BlackRock Inc. now owns 13,947,938 shares of the asset manager’s stock worth $1,255,316,000 after purchasing an additional 72,688 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Northern Trust by 65.3% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,482,148 shares of the asset manager’s stock worth $943,393,000 after acquiring an additional 4,139,159 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Northern Trust by 6.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,221,336 shares of the asset manager’s stock worth $559,920,000 after acquiring an additional 390,783 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Northern Trust by 7.8% in the 2nd quarter. Wells Fargo & Company MN now owns 1,572,816 shares of the asset manager’s stock valued at $141,553,000 after acquiring an additional 113,659 shares during the period. Finally, Invesco Ltd. raised its position in shares of Northern Trust by 27.1% in the 2nd quarter. Invesco Ltd. now owns 1,470,666 shares of the asset manager’s stock valued at $132,360,000 after acquiring an additional 313,777 shares during the period. 81.83% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on NTRS shares. Deutsche Bank increased their price target on shares of Northern Trust from $110.00 to $112.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. BidaskClub raised shares of Northern Trust from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. decreased their target price on shares of Northern Trust from $101.50 to $98.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. ValuEngine cut shares of Northern Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Finally, Wells Fargo & Co set a $110.00 target price on shares of Northern Trust and gave the company a “buy” rating in a research note on Friday, August 16th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $104.07.
Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.06. Northern Trust had a return on equity of 15.66% and a net margin of 22.10%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the firm earned $1.58 earnings per share. The company’s revenue was up 4.1% compared to the same quarter last year. As a group, research analysts predict that Northern Trust Co. will post 6.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Thursday, December 12th. Northern Trust’s payout ratio is 41.60%.
In related news, EVP Thomas A. South sold 1,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $98.54, for a total value of $98,540.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert P. Browne sold 18,812 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $102.96, for a total value of $1,936,883.52. The disclosure for this sale can be found here. Insiders have sold 55,234 shares of company stock worth $5,771,074 over the last ninety days. 1.15% of the stock is owned by insiders.
Northern Trust 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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