UMB Bank N A MO Lowers Holdings in Northern Trust Co. (NASDAQ:NTRS)
UMB Bank N A MO decreased its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 11.6% in the first quarter, Holdings Channel reports. The institutional investor owned 20,071 shares of the asset manager’s stock after selling 2,630 shares during the quarter. UMB Bank N A MO’s holdings in Northern Trust were worth $1,514,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in NTRS. Norges Bank purchased a new position in Northern Trust during the fourth quarter valued at $162,543,000. Nuance Investments LLC raised its stake in Northern Trust by 376.4% during the first quarter. Nuance Investments LLC now owns 1,589,256 shares of the asset manager’s stock valued at $119,925,000 after buying an additional 1,255,681 shares during the last quarter. Fiduciary Management Inc. WI raised its stake in Northern Trust by 52.6% during the first quarter. Fiduciary Management Inc. WI now owns 3,603,764 shares of the asset manager’s stock valued at $271,940,000 after buying an additional 1,242,291 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Northern Trust by 59.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,757,978 shares of the asset manager’s stock valued at $132,658,000 after buying an additional 653,203 shares during the last quarter. Finally, Kingstown Capital Management L.P. purchased a new position in Northern Trust during the first quarter valued at $37,730,000. Institutional investors and hedge funds own 82.63% of the company’s stock.
In other news, EVP Mark C. Gossett sold 5,115 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $83.08, for a total transaction of $424,954.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert P. Browne sold 5,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $84.82, for a total value of $424,100.00. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.
Northern Trust (NASDAQ:NTRS) last announced its earnings results on Tuesday, April 21st. The asset manager reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.10. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Northern Trust had a return on equity of 15.18% and a net margin of 21.88%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.48 EPS. On average, sell-side analysts anticipate that Northern Trust Co. will post 5.42 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, June 11th. This represents a $2.80 annualized dividend and a yield of 3.69%. Northern Trust’s dividend payout ratio (DPR) is presently 42.23%.
Several research analysts have recently weighed in on the company. BidaskClub cut Northern Trust from a “sell” rating to a “strong sell” rating in a research note on Thursday. UBS Group cut Northern Trust from a “neutral” rating to a “sell” rating and set a $65.00 price target for the company. in a research note on Monday, April 6th. Wells Fargo & Co boosted their price target on Northern Trust from $95.00 to $108.00 in a research note on Friday, June 5th. Wolfe Research upgraded Northern Trust from an “underperform” rating to a “market perform” rating in a research note on Wednesday, March 25th. Finally, Goldman Sachs Group cut Northern Trust from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $96.00 to $70.00 in a research note on Tuesday, March 24th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $87.21.
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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