Summit Global Investments Has $5.31 Million Stake in Northern Trust Co. (NASDAQ:NTRS)

Summit Global Investments increased its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 1.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 58,770 shares of the asset manager’s stock after acquiring an additional 650 shares during the period. Summit Global Investments’ holdings in Northern Trust were worth $5,313,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of NTRS. Resources Investment Advisors Inc. increased its holdings in shares of Northern Trust by 194.2% during the 1st quarter. Resources Investment Advisors Inc. now owns 306 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 202 shares during the last quarter. First Mercantile Trust Co. increased its holdings in shares of Northern Trust by 63.6% during the 4th quarter. First Mercantile Trust Co. now owns 360 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 140 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Northern Trust by 93.5% during the 1st quarter. Parallel Advisors LLC now owns 389 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 188 shares during the last quarter. Brand Asset Management Group Inc. bought a new stake in Northern Trust during the 1st quarter valued at approximately $38,000. Finally, Synovus Financial Corp boosted its stake in Northern Trust by 66.0% during the 4th quarter. Synovus Financial Corp now owns 503 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 200 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Teresa Parker sold 3,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $97.50, for a total transaction of $292,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.15% of the company’s stock.

Several brokerages recently weighed in on NTRS. ValuEngine upgraded Northern Trust from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Wells Fargo & Co increased their target price on Northern Trust from $124.00 to $131.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. They noted that the move was a valuation call. Zacks Investment Research upgraded Northern Trust from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a research note on Thursday, May 16th. Morgan Stanley decreased their target price on Northern Trust from $100.00 to $95.00 and set an “underweight” rating for the company in a research note on Wednesday, June 5th. Finally, BidaskClub downgraded Northern Trust from a “hold” rating to a “sell” rating in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $110.33.

NTRS stock traded down $0.51 during midday trading on Friday, reaching $86.73. 10,586 shares of the company’s stock traded hands, compared to its average volume of 1,093,981. Northern Trust Co. has a 1-year low of $75.96 and a 1-year high of $115.61. The stock has a market capitalization of $19.16 billion, a price-to-earnings ratio of 12.93, a P/E/G ratio of 1.34 and a beta of 1.16. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.63 and a quick ratio of 0.63.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $1.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.02. Northern Trust had a return on equity of 16.03% and a net margin of 22.44%. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period last year, the firm posted $1.58 EPS. The business’s revenue was up .3% on a year-over-year basis. On average, equities analysts expect that Northern Trust Co. will post 6.73 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $2.40 dividend on an annualized basis and a yield of 2.77%. Northern Trust’s dividend payout ratio is 35.66%.

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About Northern Trust

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

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