AE Wealth Management LLC Makes New Investment in Northern Trust Co. (NASDAQ:NTRS)
AE Wealth Management LLC bought a new position in shares of Northern Trust Co. (NASDAQ:NTRS) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,725 shares of the asset manager’s stock, valued at approximately $357,000.
Several other hedge funds also recently modified their holdings of NTRS. Janney Montgomery Scott LLC increased its stake in shares of Northern Trust by 5.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 3,046 shares of the asset manager’s stock worth $324,000 after purchasing an additional 159 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Northern Trust by 7.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,274 shares of the asset manager’s stock worth $5,235,000 after purchasing an additional 3,346 shares during the last quarter. Wealthfront Advisers LLC increased its stake in shares of Northern Trust by 9.8% during the 4th quarter. Wealthfront Advisers LLC now owns 14,022 shares of the asset manager’s stock worth $1,490,000 after purchasing an additional 1,250 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Northern Trust during the 4th quarter worth approximately $557,000. Finally, Country Club Trust Company n.a. purchased a new stake in shares of Northern Trust during the 4th quarter worth approximately $402,000. Institutional investors own 83.13% of the company’s stock.
In other Northern Trust news, EVP Robert P. Browne sold 4,500 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $72.31, for a total value of $325,395.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is owned by company insiders.
Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Tuesday, April 21st. The asset manager reported $1.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.10. Northern Trust had a net margin of 21.88% and a return on equity of 15.18%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the firm earned $1.48 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts expect that Northern Trust Co. will post 5.34 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Thursday, June 11th. Northern Trust’s payout ratio is 42.23%.
Several equities research analysts have recently issued reports on NTRS shares. Royal Bank of Canada restated a “buy” rating and set a $85.00 price target on shares of Northern Trust in a research note on Wednesday, April 8th. Goldman Sachs Group lowered shares of Northern Trust from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $96.00 to $70.00 in a research note on Tuesday, March 24th. Deutsche Bank lifted their price objective on shares of Northern Trust from $66.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, April 9th. Bank of America reduced their price objective on shares of Northern Trust from $76.00 to $67.00 and set a “neutral” rating for the company in a research note on Monday, March 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Northern Trust from $89.50 to $84.50 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $84.14.
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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