PEAK6 Investments L.P. lifted its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 530.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,175 shares of the asset manager’s stock after purchasing an additional 32,253 shares during the quarter. PEAK6 Investments L.P.’s holdings in Northern Trust were worth $2,615,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Field & Main Bank acquired a new stake in Northern Trust in the 4th quarter valued at approximately $100,000. Truewealth LLC acquired a new stake in Northern Trust in the 4th quarter valued at approximately $110,000. Cerebellum GP LLC acquired a new stake in Northern Trust in the 4th quarter valued at approximately $132,000. Mission Wealth Management LP acquired a new stake in Northern Trust in the 4th quarter valued at approximately $200,000. Finally, Hollencrest Capital Management acquired a new stake in Northern Trust in the 4th quarter valued at approximately $210,000. Institutional investors and hedge funds own 79.49% of the company’s stock.
Several analysts recently commented on the company. Sandler O’Neill restated a “hold” rating and issued a $105.00 target price on shares of Northern Trust in a research report on Wednesday, January 10th. Wells Fargo & Co set a $105.00 target price on Northern Trust and gave the company a “hold” rating in a research report on Wednesday, December 20th. Royal Bank of Canada raised their target price on Northern Trust to $110.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. BidaskClub cut Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Finally, Zacks Investment Research upgraded Northern Trust from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research report on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $104.81.
Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, January 24th. The asset manager reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.05. Northern Trust had a return on equity of 12.77% and a net margin of 20.98%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the firm earned $1.11 EPS. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. sell-side analysts predict 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. Stockholders of record on Friday, March 9th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Thursday, March 8th. Northern Trust’s dividend payout ratio (DPR) is presently 34.15%.
In other news, insider Jeffrey D. Cohodes sold 30,917 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $105.29, for a total transaction of $3,255,250.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Aileen B. Blake sold 3,000 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $105.32, for a total value of $315,960.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,457 shares of company stock worth $20,188,250. 1.04% of the stock is owned by insiders.
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Northern Trust 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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