AMP Capital Investors Ltd grew its stake in Northern Trust Co. (NASDAQ:NTRS) by 26.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,534 shares of the asset manager’s stock after purchasing an additional 16,597 shares during the period. AMP Capital Investors Ltd’s holdings in Northern Trust were worth $8,286,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Signaturefd LLC bought a new stake in shares of Northern Trust during the 1st quarter worth approximately $102,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Northern Trust by 8,671.4% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,228 shares of the asset manager’s stock worth $126,000 after acquiring an additional 1,214 shares during the last quarter. Delta Asset Management LLC TN bought a new stake in shares of Northern Trust during the 2nd quarter worth approximately $145,000. Quantbot Technologies LP bought a new stake in shares of Northern Trust during the 1st quarter worth approximately $167,000. Finally, Gables Capital Management Inc. bought a new stake in shares of Northern Trust during the 1st quarter worth approximately $194,000. 77.99% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Biff Bowman sold 21,352 shares of the business’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $111.11, for a total transaction of $2,372,420.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Teresa Parker sold 5,606 shares of Northern Trust stock in a transaction dated Friday, July 20th. The stock was sold at an average price of $108.23, for a total value of $606,737.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,636 shares of company stock worth $8,488,828. 1.04% of the stock is owned by company insiders.
Shares of NASDAQ:NTRS opened at $103.07 on Friday. Northern Trust Co. has a 12-month low of $87.36 and a 12-month high of $115.61. The firm has a market capitalization of $23.75 billion, a PE ratio of 21.34, a P/E/G ratio of 1.24 and a beta of 0.92. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.34.
Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, July 18th. The asset manager reported $1.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.05. Northern Trust had a return on equity of 15.02% and a net margin of 22.88%. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the business posted $1.12 EPS. The business’s revenue was up 13.9% compared to the same quarter last year. equities research analysts forecast that Northern Trust Co. will post 6.7 EPS for the current year.
Northern Trust announced that its Board of Directors has approved a share buyback program on Tuesday, July 17th that permits the company to buyback 25,000,000 shares. This buyback authorization permits the asset manager to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.13%. This is an increase from Northern Trust’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, September 13th. Northern Trust’s payout ratio is 34.78%.
A number of brokerages recently issued reports on NTRS. BidaskClub raised Northern Trust from a “sell” rating to a “hold” rating in a research note on Friday, June 8th. Zacks Investment Research lowered Northern Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, June 19th. Citigroup raised their price target on Northern Trust from $108.00 to $118.00 and gave the stock a “neutral” rating in a research note on Friday, July 20th. Vining Sparks reissued a “buy” rating and set a $130.00 price target on shares of Northern Trust in a research note on Monday, July 23rd. Finally, Keefe, Bruyette & Woods set a $118.00 price target on Northern Trust and gave the stock a “hold” rating in a research note on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Northern Trust presently has a consensus rating of “Hold” and an average target price of $115.06.
Northern Trust Company Profile
Northern Trust Corporation, a financial holding company, provides asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates through Corporate & Institutional Services (C&IS) and Wealth Management segments.
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