Vestor Capital LLC lifted its stake in Northern Trust Co. (NASDAQ:NTRS) by 38.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,283 shares of the asset manager’s stock after buying an additional 1,200 shares during the period. Vestor Capital LLC’s holdings in Northern Trust were worth $400,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Eagle Ridge Investment Management boosted its holdings in Northern Trust by 4.0% in the third quarter. Eagle Ridge Investment Management now owns 2,662 shares of the asset manager’s stock valued at $248,000 after purchasing an additional 102 shares during the last quarter. Lowe Brockenbrough & Co. Inc. boosted its holdings in Northern Trust by 1.0% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 10,728 shares of the asset manager’s stock valued at $1,001,000 after purchasing an additional 106 shares during the last quarter. Signaturefd LLC boosted its holdings in Northern Trust by 18.0% in the third quarter. Signaturefd LLC now owns 766 shares of the asset manager’s stock valued at $71,000 after purchasing an additional 117 shares during the last quarter. Strs Ohio boosted its holdings in Northern Trust by 2.1% in the second quarter. Strs Ohio now owns 6,242 shares of the asset manager’s stock valued at $561,000 after purchasing an additional 126 shares during the last quarter. Finally, Welch & Forbes LLC boosted its holdings in Northern Trust by 1.8% in the third quarter. Welch & Forbes LLC now owns 7,223 shares of the asset manager’s stock valued at $674,000 after purchasing an additional 127 shares during the last quarter. 81.83% of the stock is owned by institutional investors.
In other news, CFO Biff Bowman sold 13,208 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $106.53, for a total transaction of $1,407,048.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert P. Browne sold 18,812 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was 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 a total of 55,234 shares of company stock worth $5,771,074 over the last quarter. Insiders own 1.15% of the company’s stock.
Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.06. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Northern Trust had a return on equity of 15.66% and a net margin of 22.10%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.58 EPS. As a group, analysts expect that Northern Trust Co. will post 6.65 earnings per share for the current year.
The business also recently declared 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%.
A number of research analysts recently commented on NTRS shares. ValuEngine downgraded Northern Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Deutsche Bank increased their price target on Northern Trust from $110.00 to $112.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. reduced their price target on Northern Trust from $101.50 to $98.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Wells Fargo & Co set a $110.00 target price on Northern Trust and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Citigroup set a $92.00 target price on Northern Trust and gave the stock a “sell” rating in a report on Friday, October 25th. 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 currently has an average rating of “Hold” and an average target price of $104.07.
About Northern Trust
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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