MANA Advisors LLC purchased a new stake in shares of Northern Trust Co. (NASDAQ:NTRS) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 4,174 shares of the asset manager’s stock, valued at approximately $417,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of NTRS. Nippon Life Global Investors Americas Inc. bought a new stake in shares of Northern Trust in the 4th quarter valued at approximately $5,701,000. Renaissance Technologies LLC grew its stake in shares of Northern Trust by 204.2% in the 4th quarter. Renaissance Technologies LLC now owns 100,400 shares of the asset manager’s stock valued at $10,029,000 after purchasing an additional 67,400 shares during the period. Kings Point Capital Management grew its stake in shares of Northern Trust by 1,074.1% in the 4th quarter. Kings Point Capital Management now owns 13,737 shares of the asset manager’s stock valued at $1,372,000 after purchasing an additional 12,567 shares during the period. Truewealth LLC bought a new stake in shares of Northern Trust in the 4th quarter valued at approximately $110,000. Finally, Cortland Advisers LLC grew its stake in shares of Northern Trust by 49.0% in the 4th quarter. Cortland Advisers LLC now owns 436,122 shares of the asset manager’s stock valued at $43,564,000 after purchasing an additional 143,369 shares during the period. Hedge funds and other institutional investors own 78.94% of the company’s stock.
In other Northern Trust news, Vice Chairman William L. Morrison sold 46,053 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $109.18, for a total transaction of $5,028,066.54. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Wilson Leech sold 8,958 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $106.17, for a total value of $951,070.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,650 shares of company stock worth $19,659,480. 1.27% of the stock is owned by corporate insiders.
Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, January 24th. The asset manager reported $1.35 EPS for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.05. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. Northern Trust had a return on equity of 12.77% and a net margin of 20.98%. Northern Trust’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.11 EPS. analysts anticipate that Northern Trust Co. will post 6.1 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, March 8th. This represents a $1.68 dividend on an annualized basis and a yield of 1.52%. Northern Trust’s dividend payout ratio (DPR) is presently 34.15%.
Several equities research analysts have recently weighed in on NTRS shares. Credit Suisse Group upped their price objective on Northern Trust from $99.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Morgan Stanley upped their price objective on Northern Trust from $104.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, February 2nd. BidaskClub upgraded Northern Trust from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. Bank of America upped their price objective on Northern Trust from $112.00 to $116.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $110.00 price objective on shares of Northern Trust in a research note on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Northern Trust presently has a consensus rating of “Hold” and a consensus price target of $104.81.
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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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