HighPoint Advisor Group LLC Sells 150 Shares of Northern Trust Co. (NTRS)
HighPoint Advisor Group LLC lessened its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 4.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,050 shares of the asset manager’s stock after selling 150 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Northern Trust were worth $297,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of NTRS. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Northern Trust during the fourth quarter worth about $366,000. Penobscot Investment Management Company Inc. increased its position in shares of Northern Trust by 10.0% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 12,615 shares of the asset manager’s stock worth $1,054,000 after acquiring an additional 1,150 shares during the last quarter. Legal & General Group Plc increased its position in shares of Northern Trust by 5.0% during the fourth quarter. Legal & General Group Plc now owns 986,183 shares of the asset manager’s stock worth $82,436,000 after acquiring an additional 47,277 shares during the last quarter. NuWave Investment Management LLC purchased a new stake in shares of Northern Trust during the first quarter worth about $72,000. Finally, Dearborn Partners LLC increased its position in shares of Northern Trust by 37.2% during the fourth quarter. Dearborn Partners LLC now owns 81,980 shares of the asset manager’s stock worth $6,853,000 after acquiring an additional 22,247 shares during the last quarter. Institutional investors own 78.89% of the company’s stock.
A number of brokerages have recently issued reports on NTRS. Zacks Investment Research raised Northern Trust from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a research report on Wednesday, May 8th. BidaskClub lowered Northern Trust from a “hold” rating to a “sell” rating in a research report on Saturday. Deutsche Bank lifted their target price on Northern Trust from $100.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. ValuEngine raised Northern Trust from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Finally, Vining Sparks reaffirmed a “buy” rating and set a $120.00 target price on shares of Northern Trust in a research report on Wednesday, January 23rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. Northern Trust currently has an average rating of “Hold” and an average price target of $109.59.
Shares of Northern Trust stock opened at $94.56 on Wednesday. The stock has a market capitalization of $20.35 billion, a P/E ratio of 14.05, a PEG ratio of 1.40 and a beta of 1.08. Northern Trust Co. has a fifty-two week low of $75.96 and a fifty-two week high of $115.61. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.63 and a quick ratio of 0.63.
Northern Trust (NASDAQ:NTRS) last posted its earnings results on Tuesday, April 23rd. The asset manager reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.02. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.47 billion. Northern Trust had a return on equity of 16.03% and a net margin of 22.44%. The business’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.58 earnings per share. Equities research analysts anticipate that Northern Trust Co. will post 6.8 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Thursday, June 13th. Northern Trust’s dividend payout ratio (DPR) is presently 35.66%.
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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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