Cornerstone Capital Management Holdings LLC. increased its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 203.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 343,424 shares of the asset manager’s stock after purchasing an additional 230,337 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned 0.15% of Northern Trust worth $34,303,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of NTRS. Field & Main Bank acquired a new position in Northern Trust during the 4th quarter worth approximately $100,000. Truewealth LLC acquired a new position in Northern Trust during the 4th quarter worth approximately $110,000. Cerebellum GP LLC acquired a new position in Northern Trust during the 4th quarter worth approximately $132,000. Mission Wealth Management LP acquired a new position in Northern Trust during the 4th quarter worth approximately $200,000. Finally, Legacy Capital Partners Inc. acquired a new position in Northern Trust during the 4th quarter worth approximately $210,000. 79.49% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Wilson Leech sold 8,958 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $106.17, for a total value of $951,070.86. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Stephen N. Potter sold 10,000 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $106.14, for a total value of $1,061,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 189,457 shares of company stock worth $20,188,250. 1.04% of the stock is owned by company insiders.
Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, January 24th. The asset manager reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. Northern Trust had a return on equity of 12.77% and a net margin of 20.98%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the business earned $1.11 EPS. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. analysts forecast that Northern Trust Co. will post 6.1 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Thursday, March 8th. Northern Trust’s dividend payout ratio (DPR) is presently 34.15%.
NTRS has been the subject of a number of recent research reports. Zacks Investment Research raised 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. Wells Fargo & Co set a $105.00 price objective on Northern Trust and gave the company a “hold” rating in a report on Wednesday, December 20th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $110.00 price objective on shares of Northern Trust in a report on Friday, December 22nd. Barclays increased their price objective on Northern Trust from $102.00 to $114.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Finally, Sandler O’Neill reissued a “hold” rating and issued a $105.00 price objective on shares of Northern Trust in a report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price 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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