Crestline Management LP increased its position in Northern Trust Co. (NASDAQ:NTRS) by 139.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,074 shares of the asset manager’s stock after buying an additional 59,403 shares during the quarter. Northern Trust accounts for approximately 1.0% of Crestline Management LP’s holdings, making the stock its 5th biggest holding. Crestline Management LP’s holdings in Northern Trust were worth $10,196,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of NTRS. BlackRock Inc. increased its position in Northern Trust by 1.7% during the 4th quarter. BlackRock Inc. now owns 13,568,183 shares of the asset manager’s stock valued at $1,355,326,000 after purchasing an additional 230,925 shares during the period. JPMorgan Chase & Co. increased its position in 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 period. Geode Capital Management LLC increased its position in Northern Trust by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 2,436,308 shares of the asset manager’s stock valued at $242,889,000 after purchasing an additional 93,566 shares during the period. Burgundy Asset Management Ltd. increased its position in Northern Trust by 0.3% during the 4th quarter. Burgundy Asset Management Ltd. now owns 2,393,055 shares of the asset manager’s stock valued at $239,042,000 after purchasing an additional 6,255 shares during the period. Finally, Wells Fargo & Company MN increased its position in Northern Trust by 8.3% during the 4th quarter. Wells Fargo & Company MN now owns 2,106,085 shares of the asset manager’s stock valued at $210,376,000 after purchasing an additional 160,702 shares during the period. 79.49% of the stock is currently owned by institutional investors.
A number of research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub downgraded shares of Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Morgan Stanley boosted their price objective on shares of Northern Trust from $104.00 to $110.00 and gave the company an “underweight” rating in a research report on Friday, February 2nd. Royal Bank of Canada boosted their price objective on shares of Northern Trust to $110.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Credit Suisse Group boosted their target price on shares of Northern Trust from $99.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $104.81.
Shares of Northern Trust Co. (NASDAQ NTRS) traded down $0.53 during mid-day trading on Wednesday, hitting $108.02. 30,741 shares of the stock were exchanged, compared to its average volume of 1,220,763. Northern Trust Co. has a 1 year low of $83.17 and a 1 year high of $110.81. The company has a market cap of $24,703.46, a PE ratio of 22.72, a PEG ratio of 1.44 and a beta of 0.95. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.35.
Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, January 24th. The asset manager reported $1.35 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the business posted $1.11 EPS. The company’s quarterly revenue was up 15.6% on a year-over-year basis. equities research analysts expect that Northern Trust Co. will post 6.1 earnings per share for the current year.
The company 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 1.56%. The ex-dividend date of this dividend is Thursday, March 8th. Northern Trust’s payout ratio is 34.15%.
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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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