Reinhart Partners Inc. trimmed its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 1.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 193,740 shares of the asset manager’s stock after selling 3,417 shares during the quarter. Reinhart Partners Inc. owned 0.09% of Northern Trust worth $18,080,000 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 the stock. Litman Gregory Asset Management LLC acquired a new stake in shares of Northern Trust during the second quarter worth $25,000. Trust Co. of Vermont increased its position in shares of Northern Trust by 750.0% in the second quarter. Trust Co. of Vermont now owns 340 shares of the asset manager’s stock worth $31,000 after purchasing an additional 300 shares during the period. Kavar Capital Partners LLC bought a new position in shares of Northern Trust in the second quarter worth $32,000. Oakworth Capital Inc. bought a new position in shares of Northern Trust in the second quarter worth $34,000. Finally, Smith Asset Management Group LP increased its position in shares of Northern Trust by 90.0% in the second quarter. Smith Asset Management Group LP now owns 380 shares of the asset manager’s stock worth $34,000 after purchasing an additional 180 shares during the period. 81.52% of the stock is owned by institutional investors and hedge funds.
Shares of Northern Trust stock traded up $0.39 during midday trading on Friday, reaching $107.65. The company had a trading volume of 880,500 shares, compared to its average volume of 1,164,009. The firm has a market cap of $22.35 billion, a PE ratio of 16.00, a P/E/G ratio of 1.69 and a beta of 1.22. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.61 and a quick ratio of 0.61. The stock has a fifty day moving average price of $95.80 and a 200 day moving average price of $92.61. Northern Trust Co. has a fifty-two week low of $75.96 and a fifty-two week high of $108.45.
Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.06. Northern Trust had a return on equity of 15.66% and a net margin of 22.10%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the firm earned $1.58 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Northern Trust Co. will post 6.66 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $2.80 annualized dividend and a dividend yield of 2.60%. Northern Trust’s payout ratio is currently 41.60%.
A number of brokerages recently commented on NTRS. Deutsche Bank raised their price target on Northern Trust from $88.00 to $92.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. ValuEngine cut Northern Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Wells Fargo & Co set a $110.00 price target on Northern Trust and gave the stock a “buy” rating in a report on Friday, August 16th. Morgan Stanley reduced their price target on Northern Trust from $93.00 to $90.00 and set an “underweight” rating on the stock in a report on Friday, October 4th. Finally, Buckingham Research reduced their price target on Northern Trust from $118.00 to $112.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. Northern Trust has an average rating of “Hold” and an average price target of $102.53.
In other news, EVP Robert P. Browne sold 10,680 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $101.56, for a total transaction of $1,084,660.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas A. South sold 1,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $98.54, for a total value of $98,540.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,026 shares of company stock worth $4,364,026. Insiders own 1.15% of the company’s stock.
Northern Trust Profile
Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Corporate & Institutional Services (C&IS) and Wealth Management.
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