Northern Trust Co. (NTRS) Holdings Boosted by ING Groep NV
ING Groep NV boosted its holdings in Northern Trust Co. (NASDAQ:NTRS) by 10.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 20,421 shares of the asset manager’s stock after acquiring an additional 1,860 shares during the period. ING Groep NV’s holdings in Northern Trust were worth $2,040,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of the business. JPMorgan Chase & Co. increased its position 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 valued at $759,569,000 after purchasing an additional 41,048 shares during the last quarter. Burgundy Asset Management Ltd. increased its position in shares of Northern Trust by 0.6% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 2,386,800 shares of the asset manager’s stock valued at $219,419,000 after purchasing an additional 13,249 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Northern Trust by 14.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,965,535 shares of the asset manager’s stock valued at $180,691,000 after purchasing an additional 255,106 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Northern Trust by 1.0% during the 3rd quarter. Wells Fargo & Company MN now owns 1,945,383 shares of the asset manager’s stock valued at $178,838,000 after purchasing an additional 19,884 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Northern Trust during the 3rd quarter valued at about $128,778,000. 81.31% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Frederick H. Waddell sold 44,658 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $97.95, for a total transaction of $4,374,251.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Wilson Leech sold 8,958 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $106.17, for a total value of $951,070.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 186,673 shares of company stock valued at $18,723,553. 1.27% of the stock is currently owned by corporate insiders.
Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, January 24th. The asset manager reported $1.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.05. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.41 billion. Northern Trust had a return on equity of 12.77% and a net margin of 20.98%. The firm’s revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 EPS. research analysts predict that Northern Trust Co. will post 6.02 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be paid a dividend of $0.42 per share. The ex-dividend date is Thursday, March 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.73%. Northern Trust’s dividend payout ratio (DPR) is presently 34.15%.
Several equities research analysts have recently commented on NTRS shares. Bank of America set a $102.00 price target on shares of Northern Trust and gave the company a “buy” rating in a research report on Thursday, October 19th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $110.00 price target on shares of Northern Trust in a research report on Friday, December 22nd. Zacks Investment Research raised shares of Northern Trust from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research report on Tuesday, December 19th. Barclays upped their price target on shares of Northern Trust from $102.00 to $114.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Morgan Stanley upped their price target on shares of Northern Trust from $83.00 to $91.00 and gave the company an “underweight” rating in a research report on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Northern Trust presently has a consensus rating of “Hold” and an average price target of $104.81.
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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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