Russell Investments Group Ltd. Lowers Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Russell Investments Group Ltd. decreased its position in shares of Northern Trust Co. (NASDAQ:NTRSGet Rating) by 17.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 444,614 shares of the asset manager’s stock after selling 90,811 shares during the period. Russell Investments Group Ltd. owned approximately 0.21% of Northern Trust worth $38,173,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NTRS. Trust Co. of Vermont purchased a new stake in Northern Trust during the second quarter valued at about $33,000. LS Investment Advisors LLC bought a new position in shares of Northern Trust during the second quarter valued at about $38,000. Clear Street Markets LLC grew its stake in shares of Northern Trust by 411.8% during the second quarter. Clear Street Markets LLC now owns 435 shares of the asset manager’s stock valued at $42,000 after buying an additional 350 shares during the last quarter. CoreCap Advisors LLC bought a new position in shares of Northern Trust during the second quarter valued at about $49,000. Finally, Hexagon Capital Partners LLC grew its stake in shares of Northern Trust by 890.0% during the third quarter. Hexagon Capital Partners LLC now owns 594 shares of the asset manager’s stock valued at $51,000 after buying an additional 534 shares during the last quarter. Hedge funds and other institutional investors own 81.44% of the company’s stock.

Northern Trust Stock Up 0.2 %

NASDAQ NTRS opened at $94.77 on Wednesday. The business’s 50-day moving average is $91.47 and its 200 day moving average is $92.21. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.69 and a quick ratio of 0.67. The stock has a market capitalization of $19.75 billion, a PE ratio of 15.43 and a beta of 1.06. Northern Trust Co. has a 1 year low of $76.15 and a 1 year high of $127.89.

Northern Trust (NASDAQ:NTRSGet Rating) last posted its quarterly earnings data on Thursday, January 19th. The asset manager reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($1.10). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.75 billion. Northern Trust had a net margin of 17.24% and a return on equity of 14.89%. The business’s revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.91 earnings per share. Sell-side analysts forecast that Northern Trust Co. will post 6.8 earnings per share for the current year.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, April 1st. Shareholders of record on Friday, March 10th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $3.00 annualized dividend and a yield of 3.17%. Northern Trust’s payout ratio is 48.86%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NTRS. Keefe, Bruyette & Woods cut Northern Trust from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 19th. The Goldman Sachs Group cut Northern Trust from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $97.00 to $95.00 in a research note on Wednesday, January 4th. Royal Bank of Canada reduced their price objective on Northern Trust from $110.00 to $95.00 and set an “outperform” rating on the stock in a research note on Thursday, October 20th. Morgan Stanley reduced their price objective on Northern Trust from $103.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Friday, January 20th. Finally, Citigroup cut their target price on Northern Trust from $92.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $100.68.

About Northern Trust

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Northern Trust Corp. is a financial holding company, which engages in the provision of asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals. It operates through the following segments: Corporate & Institutional Services and Wealth Management.

See Also

Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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