Miracle Mile Advisors LLC purchased a new position in Northern Trust Co. (NASDAQ:NTRS) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 32,960 shares of the asset manager’s stock, valued at approximately $2,980,000.
Other hedge funds have also recently modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Northern Trust during the fourth quarter worth $366,000. Penobscot Investment Management Company Inc. grew its stake in shares of Northern Trust by 10.0% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 12,615 shares of the asset manager’s stock worth $1,054,000 after purchasing an additional 1,150 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Northern Trust by 5.0% during the fourth quarter. Legal & General Group Plc now owns 986,183 shares of the asset manager’s stock worth $82,436,000 after purchasing an additional 47,277 shares in the last quarter. NuWave Investment Management LLC acquired a new position in shares of Northern Trust during the first quarter worth $72,000. Finally, Dearborn Partners LLC grew its stake in shares of Northern Trust by 37.2% during the fourth quarter. Dearborn Partners LLC now owns 81,980 shares of the asset manager’s stock worth $6,853,000 after purchasing an additional 22,247 shares in the last quarter. Hedge funds and other institutional investors own 78.89% of the company’s stock.
Shares of NTRS opened at $94.21 on Friday. Northern Trust Co. has a 1-year low of $75.96 and a 1-year high of $115.61. The firm has a market capitalization of $20.51 billion, a P/E ratio of 13.98, a P/E/G ratio of 1.42 and a beta of 1.08. 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 announced its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. Northern Trust had a net margin of 22.44% and a return on equity of 16.03%. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the previous year, the company earned $1.58 earnings per share. Northern Trust’s quarterly revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts predict that Northern Trust Co. will post 6.8 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.60 dividend. The ex-dividend date is Thursday, June 13th. This represents a $2.40 dividend on an annualized basis and a yield of 2.55%. Northern Trust’s dividend payout ratio (DPR) is presently 35.66%.
In other news, insider Teresa Parker sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $97.50, for a total transaction of $292,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.15% of the company’s stock.
A number of equities analysts recently commented on the stock. ValuEngine upgraded shares of Northern Trust from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Wells Fargo & Co boosted their target price on shares of Northern Trust from $124.00 to $131.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of 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. BidaskClub cut shares of Northern Trust from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. Finally, Raymond James cut shares of Northern Trust from a “strong-buy” rating to a “market perform” rating and set a $89.93 price target for the company. in a research report on Thursday, January 24th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $109.59.
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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