Teachers Retirement System of The State of Kentucky lessened its holdings in shares of Northern Trust Co. (NASDAQ:NTRS – Get Rating) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,728 shares of the asset manager’s stock after selling 640 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Northern Trust were worth $1,715,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC bought a new position in Northern Trust during the fourth quarter valued at $25,000. Atwood & Palmer Inc. lifted its position in Northern Trust by 34.5% during the first quarter. Atwood & Palmer Inc. now owns 390 shares of the asset manager’s stock valued at $46,000 after purchasing an additional 100 shares during the last quarter. Covestor Ltd lifted its position in Northern Trust by 64.8% during the first quarter. Covestor Ltd now owns 496 shares of the asset manager’s stock valued at $58,000 after purchasing an additional 195 shares during the last quarter. Denali Advisors LLC lifted its position in Northern Trust by 66.7% during the first quarter. Denali Advisors LLC now owns 500 shares of the asset manager’s stock valued at $58,000 after purchasing an additional 200 shares during the last quarter. Finally, Parkside Investments LLC bought a new position in Northern Trust during the first quarter valued at $62,000. Institutional investors own 83.59% of the company’s stock.
Wall Street Analyst Weigh In
NTRS has been the topic of several recent research reports. Citigroup dropped their target price on shares of Northern Trust from $125.00 to $100.00 in a report on Tuesday, July 12th. Royal Bank of Canada decreased their price objective on shares of Northern Trust from $133.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, July 1st. Barclays reduced their target price on shares of Northern Trust from $140.00 to $120.00 and set an “equal weight” rating for the company in a report on Thursday, July 21st. Piper Sandler lowered their price target on shares of Northern Trust from $141.00 to $121.00 and set an “overweight” rating on the stock in a report on Friday, June 24th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Northern Trust from $112.00 to $123.00 and gave the company a “buy” rating in a report on Friday, August 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $120.19.
Northern Trust Trading Down 2.6 %
Northern Trust (NASDAQ:NTRS – Get Rating) last issued its earnings results on Wednesday, July 20th. The asset manager reported $1.86 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.07). The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. Northern Trust had a return on equity of 14.82% and a net margin of 23.13%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.72 earnings per share. On average, sell-side analysts anticipate that Northern Trust Co. will post 7.45 EPS for the current fiscal year.
Northern Trust Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 9th will be issued a dividend of $0.75 per share. This is a boost from Northern Trust’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Thursday, September 8th. Northern Trust’s payout ratio is currently 40.87%.
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.
- Get a free copy of the StockNews.com research report on Northern Trust (NTRS)
- The Worst May be Over for Target, But is the Stock Safe to Buy?
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- Two Fun Stocks The Insiders Are Buying
- Novavax Remains a Risk-On Stock in a Risk-Off Market
- General Mills: Superior Returns With Less Volatility
Receive News & Ratings for Northern Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Trust and related companies with MarketBeat.com's FREE daily email newsletter.