Jolley Asset Management LLC Raises Stake in Northern Trust Co. (NTRS)
Jolley Asset Management LLC boosted its position in Northern Trust Co. (NASDAQ:NTRS) by 25.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,700 shares of the asset manager’s stock after buying an additional 350 shares during the period. Jolley Asset Management LLC’s holdings in Northern Trust were worth $147,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of NTRS. Hall Laurie J Trustee purchased a new position in Northern Trust during the fourth quarter worth about $100,000. Woodmont Investment Counsel LLC purchased a new position in Northern Trust during the third quarter worth about $114,000. Bessemer Group Inc. increased its position in Northern Trust by 689.7% in the fourth quarter. Bessemer Group Inc. now owns 1,303 shares of the asset manager’s stock worth $116,000 after buying an additional 1,138 shares during the period. Virtus Investment Advisers Inc. purchased a new position in Northern Trust during the third quarter worth about $120,000. Finally, FNY Partners Fund LP purchased a new position in Northern Trust during the fourth quarter worth about $151,000. Institutional investors and hedge funds own 79.48% of the company’s stock.
Northern Trust Co. (NASDAQ:NTRS) traded down 0.76% during midday trading on Tuesday, reaching $85.76. The company had a trading volume of 762,372 shares. Northern Trust Co. has a 1-year low of $61.32 and a 1-year high of $91.14. The firm has a 50-day moving average of $87.36 and a 200 day moving average of $83.28. The company has a market capitalization of $19.62 billion, a P/E ratio of 19.85 and a beta of 1.05.
Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, January 18th. The asset manager reported $1.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by $0.02. Northern Trust had a return on equity of 11.68% and a net margin of 19.76%. The firm earned $1.25 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. Northern Trust’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts forecast that Northern Trust Co. will post $4.71 EPS for the current year.
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Several brokerages have recently weighed in on NTRS. Zacks Investment Research upgraded Northern Trust from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a report on Tuesday, December 20th. Raymond James Financial, Inc. restated a “strong-buy” rating and set a $105.00 price target (up from $83.00) on shares of Northern Trust in a report on Thursday, December 29th. Deutsche Bank AG reduced their price target on Northern Trust from $94.00 to $93.00 and set a “hold” rating for the company in a report on Thursday, April 6th. Barclays PLC raised their price target on Northern Trust from $80.00 to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, January 3rd. Finally, Jefferies Group LLC upgraded Northern Trust from a “hold” rating to a “buy” rating and raised their price target for the company from $90.00 to $102.00 in a report on Tuesday, April 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Northern Trust currently has an average rating of “Hold” and an average target price of $84.75.
In other Northern Trust news, EVP Jeffrey D. Cohodes sold 15,000 shares of the company’s stock in a transaction on Friday, January 20th. The stock was sold at an average price of $83.72, for a total value of $1,255,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jana R. Schreuder sold 7,327 shares of the company’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $90.02, for a total value of $659,576.54. The disclosure for this sale can be found here. Insiders sold a total of 282,185 shares of company stock valued at $24,709,843 over the last quarter. Company insiders own 1.90% of the company’s stock.
About Northern Trust
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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