Assenagon Asset Management S.A. increased its stake in Northern Trust Co. (NASDAQ:NTRS – Free Report) by 598.3% in the 1st quarter, Holdings Channel reports. The fund owned 27,506 shares of the asset manager’s stock after buying an additional 23,567 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Northern Trust were worth $2,713,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in NTRS. Ellevest Inc. increased its position in shares of Northern Trust by 3.4% during the fourth quarter. Ellevest Inc. now owns 3,410 shares of the asset manager’s stock valued at $350,000 after acquiring an additional 113 shares in the last quarter. Bradley Foster & Sargent Inc. CT lifted its stake in shares of Northern Trust by 2.4% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 4,774 shares of the asset manager’s stock valued at $489,000 after buying an additional 114 shares in the last quarter. Moors & Cabot Inc. lifted its stake in shares of Northern Trust by 4.0% during the 4th quarter. Moors & Cabot Inc. now owns 3,560 shares of the asset manager’s stock valued at $365,000 after buying an additional 137 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Northern Trust by 29.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 597 shares of the asset manager’s stock valued at $61,000 after acquiring an additional 137 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in Northern Trust by 11.4% in the 1st quarter. Parallel Advisors LLC now owns 1,773 shares of the asset manager’s stock valued at $175,000 after acquiring an additional 182 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
NTRS has been the topic of a number of research reports. Evercore ISI reduced their target price on shares of Northern Trust from $104.00 to $100.00 and set an “in-line” rating on the stock in a report on Wednesday, April 23rd. Bank of America lowered their price objective on shares of Northern Trust from $123.00 to $121.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Morgan Stanley reaffirmed an “underweight” rating and issued a $103.00 price target (up previously from $101.00) on shares of Northern Trust in a research report on Tuesday, June 3rd. Royal Bank of Canada reduced their price objective on shares of Northern Trust from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Finally, Wall Street Zen lowered shares of Northern Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Northern Trust currently has an average rating of “Hold” and an average target price of $108.42.
Northern Trust Stock Performance
NASDAQ:NTRS opened at $110.91 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a fifty-two week low of $80.45 and a fifty-two week high of $114.67. The stock has a market cap of $21.58 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.72 and a beta of 1.22. The firm’s fifty day simple moving average is $100.27 and its 200-day simple moving average is $103.13.
Northern Trust (NASDAQ:NTRS – Get Free Report) last released its earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.05. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. Analysts expect that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.
Northern Trust Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, June 6th. Northern Trust’s payout ratio is currently 27.99%.
Insider Transactions at Northern Trust
In other news, EVP Clive Bellows sold 3,300 shares of Northern Trust stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $99.95, for a total value of $329,835.00. Following the transaction, the executive vice president now owns 28,736 shares of the company’s stock, valued at $2,872,163.20. The trade was a 10.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Teresa Parker sold 6,467 shares of Northern Trust stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $100.62, for a total transaction of $650,709.54. Following the completion of the transaction, the insider now directly owns 79,391 shares in the company, valued at $7,988,322.42. This represents a 7.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,772 shares of company stock valued at $981,069. 0.77% of the stock is currently owned by corporate insiders.
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, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.
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