Prana Capital Management LP bought a new position in shares of Northern Trust Co. (NASDAQ:NTRS) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 224,033 shares of the asset manager’s stock, valued at approximately $22,379,000. Northern Trust accounts for about 7.6% of Prana Capital Management LP’s portfolio, making the stock its 2nd largest position. Prana Capital Management LP owned approximately 0.10% of Northern Trust as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the stock. HBK Investments L P increased its holdings in Northern Trust by 241.2% during the 4th quarter. HBK Investments L P now owns 71,649 shares of the asset manager’s stock worth $7,157,000 after acquiring an additional 50,649 shares during the period. California State Teachers Retirement System increased its holdings in shares of Northern Trust by 0.5% in the 4th quarter. California State Teachers Retirement System now owns 367,189 shares of the asset manager’s stock worth $36,679,000 after buying an additional 1,875 shares during the last quarter. Ellington Management Group LLC bought a new position in shares of Northern Trust in the 4th quarter worth $400,000. HPM Partners LLC increased its holdings in shares of Northern Trust by 10.5% in the 4th quarter. HPM Partners LLC now owns 330,130 shares of the asset manager’s stock worth $32,977,000 after buying an additional 31,273 shares during the last quarter. Finally, Baker Avenue Asset Management LP increased its holdings in shares of Northern Trust by 9.8% in the 4th quarter. Baker Avenue Asset Management LP now owns 10,388 shares of the asset manager’s stock worth $1,038,000 after buying an additional 931 shares during the last quarter. 79.49% of the stock is currently owned by institutional investors and hedge funds.
NTRS has been the topic of a number of research analyst reports. Bank of America increased their price target on shares of Northern Trust from $112.00 to $116.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Vining Sparks reissued a “buy” rating and issued a $118.00 price target on shares of Northern Trust in a report on Wednesday, January 24th. Zacks Investment Research raised shares of Northern Trust from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a report on Tuesday, December 19th. BidaskClub raised shares of Northern Trust from a “hold” rating to a “buy” rating in a report on Saturday, January 13th. Finally, Barclays increased their price target on shares of Northern Trust from $102.00 to $114.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Northern Trust presently has an average rating of “Hold” and an average target price of $104.81.
Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, January 24th. The asset manager reported $1.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.05. Northern Trust had a net margin of 20.98% and a return on equity of 12.77%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the firm earned $1.11 EPS. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. research analysts forecast that Northern Trust Co. will post 6.1 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, March 8th. Northern Trust’s dividend payout ratio is currently 34.15%.
In other Northern Trust news, Vice Chairman William L. Morrison sold 46,053 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $109.18, for a total transaction of $5,028,066.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Aileen B. Blake sold 3,000 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $105.32, for a total transaction of $315,960.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 184,650 shares of company stock worth $19,659,480. 1.04% of the stock is owned by insiders.
About Northern Trust
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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