Alyeska Investment Group L.P. Purchases Shares of 1,400,830 Northern Trust Co. (NTRS)
Alyeska Investment Group L.P. purchased a new stake in Northern Trust Co. (NASDAQ:NTRS) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,400,830 shares of the asset manager’s stock, valued at approximately $128,778,000. Northern Trust makes up approximately 1.0% of Alyeska Investment Group L.P.’s investment portfolio, making the stock its 13th largest holding. Alyeska Investment Group L.P. owned approximately 0.62% of Northern Trust at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Tdam USA Inc. lifted its holdings in shares of Northern Trust by 0.4% in the second quarter. Tdam USA Inc. now owns 2,629 shares of the asset manager’s stock valued at $255,000 after purchasing an additional 10 shares in the last quarter. Wetherby Asset Management Inc. lifted its holdings in shares of Northern Trust by 0.5% in the second quarter. Wetherby Asset Management Inc. now owns 5,867 shares of the asset manager’s stock valued at $570,000 after purchasing an additional 27 shares in the last quarter. Veritable L.P. lifted its holdings in shares of Northern Trust by 0.5% in the second quarter. Veritable L.P. now owns 7,941 shares of the asset manager’s stock valued at $772,000 after purchasing an additional 42 shares in the last quarter. Conning Inc. lifted its holdings in shares of Northern Trust by 0.8% in the second quarter. Conning Inc. now owns 6,263 shares of the asset manager’s stock valued at $609,000 after purchasing an additional 50 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Northern Trust by 0.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,033 shares of the asset manager’s stock valued at $1,559,000 after purchasing an additional 80 shares in the last quarter. Institutional investors own 81.75% of the company’s stock.
In other news, Vice Chairman William L. Morrison sold 11,058 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $94.34, for a total transaction of $1,043,211.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jana R. Schreuder sold 5,581 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $90.00, for a total value of $502,290.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 449,963 shares of company stock worth $42,798,613. Company insiders own 1.27% of the company’s stock.
A number of analysts have recently commented on the company. BidaskClub upgraded Northern Trust from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Zacks Investment Research downgraded Northern Trust from a “hold” rating to a “sell” rating in a research report on Monday, August 28th. Buckingham Research lifted their target price on Northern Trust from $95.00 to $97.00 and gave the company a “neutral” rating in a research report on Thursday, October 19th. UBS lifted their target price on Northern Trust from $100.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $92.00 target price (up previously from $90.00) on shares of Northern Trust in a research report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $97.07.
Northern Trust Co. (NASDAQ NTRS) opened at $97.32 on Friday. The firm has a market capitalization of $21,946.14, a P/E ratio of 21.07, a price-to-earnings-growth ratio of 2.13 and a beta of 0.96. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.37. Northern Trust Co. has a 12-month low of $81.92 and a 12-month high of $99.66.
Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, October 18th. The asset manager reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.08. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Northern Trust had a return on equity of 12.33% and a net margin of 20.27%. The business’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.11 earnings per share. equities analysts forecast that Northern Trust Co. will post 4.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 1st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, November 30th. Northern Trust’s dividend payout ratio (DPR) is presently 37.17%.
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Northern Trust Profile
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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