Legacy Capital Partners Inc. bought a new stake in shares of Northern Trust Co. (NASDAQ:NTRS) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,100 shares of the asset manager’s stock, valued at approximately $223,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Smith Asset Management Group LP grew its stake in Northern Trust by 90.0% during the second quarter. Smith Asset Management Group LP now owns 380 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 180 shares in the last quarter. CSat Investment Advisory L.P. grew its stake in Northern Trust by 252.7% during the second quarter. CSat Investment Advisory L.P. now owns 582 shares of the asset manager’s stock valued at $52,000 after acquiring an additional 417 shares in the last quarter. HM Payson & Co. purchased a new position in Northern Trust during the second quarter valued at $68,000. Signaturefd LLC grew its stake in Northern Trust by 18.0% during the third quarter. Signaturefd LLC now owns 766 shares of the asset manager’s stock valued at $71,000 after acquiring an additional 117 shares in the last quarter. Finally, Boston Partners purchased a new position in Northern Trust during the second quarter valued at $103,000. 81.89% of the stock is owned by institutional investors.
In related news, CFO Biff Bowman sold 13,208 shares of Northern Trust stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $106.53, for a total transaction of $1,407,048.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert P. Browne sold 14,046 shares of Northern Trust stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $109.28, for a total transaction of $1,534,946.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,280 shares of company stock valued at $7,207,481. 1.15% of the stock is owned by corporate insiders.
Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.06. Northern Trust had a net margin of 22.10% and a return on equity of 15.66%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the company earned $1.58 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. Sell-side analysts forecast that Northern Trust Co. will post 6.66 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.59%. Northern Trust’s dividend payout ratio is presently 41.60%.
A number of brokerages have commented on NTRS. UBS Group lifted their price objective on shares of Northern Trust from $103.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 17th. Deutsche Bank lifted their price objective on shares of Northern Trust from $110.00 to $112.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. ValuEngine cut shares of Northern Trust from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. Morgan Stanley lifted their price objective on shares of Northern Trust from $105.00 to $108.00 and gave the stock an “underweight” rating in a research note on Monday, December 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Northern Trust from $101.50 to $98.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. Northern Trust presently has an average rating of “Hold” and an average price target of $107.15.
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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