Northern Trust Co. (NTRS) Position Lifted by Gofen & Glossberg LLC IL
Gofen & Glossberg LLC IL boosted its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 7.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 158,804 shares of the asset manager’s stock after buying an additional 11,195 shares during the period. Gofen & Glossberg LLC IL owned approximately 0.07% of Northern Trust worth $14,599,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the stock. Alyeska Investment Group L.P. acquired a new position in Northern Trust in the 3rd quarter worth about $128,778,000. Arrowstreet Capital Limited Partnership increased its position in Northern Trust by 7,106.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 526,081 shares of the asset manager’s stock worth $51,140,000 after purchasing an additional 518,781 shares during the last quarter. Vanguard Group Inc. increased its position in Northern Trust by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 14,255,623 shares of the asset manager’s stock worth $1,385,789,000 after purchasing an additional 363,691 shares during the last quarter. Wells Fargo & Company MN increased its position in Northern Trust by 18.4% in the 2nd quarter. Wells Fargo & Company MN now owns 1,925,499 shares of the asset manager’s stock worth $187,177,000 after purchasing an additional 299,230 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Northern Trust by 14.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,965,535 shares of the asset manager’s stock worth $180,691,000 after purchasing an additional 255,106 shares during the last quarter. 81.75% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Vice Chairman William L. Morrison sold 11,058 shares of the 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Aileen B. Blake sold 1,000 shares of the stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $94.00, for a total value of $94,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 433,382 shares of company stock valued at $41,304,013. 1.27% of the stock is currently owned by corporate insiders.
Several research analysts have weighed in on NTRS shares. UBS upped their target price on Northern Trust from $100.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Zacks Investment Research lowered Northern Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Morgan Stanley upped their target price on Northern Trust from $83.00 to $91.00 and gave the stock an “underweight” rating in a research report on Thursday, October 19th. Buckingham Research upped their target price on Northern Trust from $95.00 to $97.00 and gave the stock a “neutral” rating in a research report on Thursday, October 19th. Finally, Bank of America set a $102.00 target price on Northern Trust and gave the stock a “buy” rating in a research report on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $97.07.
Shares of Northern Trust Co. (NTRS) opened at $97.48 on Thursday. The stock has a market capitalization of $22,170.00, a PE ratio of 21.30, a PEG ratio of 2.08 and a beta of 0.96. Northern Trust Co. has a 52 week low of $81.92 and a 52 week high of $99.66. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.71 and a current ratio of 0.71.
Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, October 18th. The asset manager reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.08. The company had revenue of $1.36 billion during 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 firm’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.11 EPS. research analysts expect that Northern Trust Co. will post 4.68 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 1st will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.68 annualized dividend and a dividend yield of 1.72%. Northern Trust’s dividend payout ratio (DPR) is presently 37.09%.
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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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