Assenagon Asset Management S.A. Boosts Holdings in Northern Trust Co. (NASDAQ:NTRS)

Assenagon Asset Management S.A. boosted its position in shares of Northern Trust Co. (NASDAQ:NTRSGet Rating) by 87.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,729 shares of the asset manager’s stock after purchasing an additional 3,143 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Northern Trust were worth $576,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Treasurer of the State of North Carolina boosted its position in shares of Northern Trust by 14.7% during the second quarter. Treasurer of the State of North Carolina now owns 89,694 shares of the asset manager’s stock valued at $8,654,000 after buying an additional 11,474 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Northern Trust by 6.0% in the second quarter. Commonwealth Equity Services LLC now owns 22,729 shares of the asset manager’s stock worth $2,192,000 after acquiring an additional 1,289 shares during the period. Atria Investments LLC raised its holdings in shares of Northern Trust by 2.2% during the second quarter. Atria Investments LLC now owns 16,454 shares of the asset manager’s stock valued at $1,587,000 after purchasing an additional 359 shares during the last quarter. Tobam lifted its position in Northern Trust by 55.9% during the second quarter. Tobam now owns 1,185 shares of the asset manager’s stock valued at $114,000 after purchasing an additional 425 shares during the period. Finally, Archford Capital Strategies LLC boosted its holdings in Northern Trust by 5.4% in the third quarter. Archford Capital Strategies LLC now owns 2,801 shares of the asset manager’s stock worth $240,000 after purchasing an additional 144 shares during the last quarter. 81.44% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Stock Performance

Shares of NASDAQ NTRS opened at $98.20 on Tuesday. The stock has a market cap of $20.47 billion, a PE ratio of 13.38 and a beta of 1.06. Northern Trust Co. has a 1 year low of $76.15 and a 1 year high of $133.72. The firm has a fifty day moving average price of $90.77 and a 200-day moving average price of $92.29. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.67 and a quick ratio of 0.67.

Northern Trust (NASDAQ:NTRSGet Rating) last issued its quarterly earnings results on Wednesday, October 19th. The asset manager reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.02). Northern Trust had a return on equity of 15.12% and a net margin of 21.84%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the company posted $1.80 EPS. The company’s quarterly revenue was up 7.5% on a year-over-year basis. Equities analysts anticipate that Northern Trust Co. will post 7.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Northern Trust from $92.00 to $95.00 in a research note on Wednesday, January 11th. Keefe, Bruyette & Woods downgraded Northern Trust from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 19th. Citigroup cut their price target on Northern Trust from $92.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, October 21st. Barclays increased their price objective on shares of Northern Trust from $105.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 3rd. Finally, Evercore ISI cut their target price on shares of Northern Trust to $85.00 in a research report on Thursday, October 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $101.59.

About Northern Trust

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Northern Trust Corp. is a financial holding company, which engages in the provision of asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals. It operates through the following segments: Corporate & Institutional Services and Wealth Management.

Further Reading

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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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