Northern Trust Co. (NASDAQ:NTRS) Shares Acquired by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lifted its holdings in shares of Northern Trust Co. (NASDAQ:NTRSFree Report) by 80.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,659 shares of the asset manager’s stock after buying an additional 13,202 shares during the period. Tower Research Capital LLC TRC’s holdings in Northern Trust were worth $2,503,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NTRS. Oppenheimer & Co. Inc. boosted its position in shares of Northern Trust by 229.0% during the third quarter. Oppenheimer & Co. Inc. now owns 9,416 shares of the asset manager’s stock worth $654,000 after buying an additional 6,554 shares during the period. Shell Asset Management Co. lifted its position in Northern Trust by 3.3% in the third quarter. Shell Asset Management Co. now owns 6,047 shares of the asset manager’s stock worth $420,000 after purchasing an additional 191 shares during the period. Pathstone Family Office LLC acquired a new stake in Northern Trust in the third quarter worth approximately $715,000. State Board of Administration of Florida Retirement System lifted its position in Northern Trust by 1.1% in the third quarter. State Board of Administration of Florida Retirement System now owns 229,837 shares of the asset manager’s stock worth $15,969,000 after purchasing an additional 2,574 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Northern Trust by 14.5% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 41,622 shares of the asset manager’s stock worth $2,892,000 after purchasing an additional 5,286 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Trading Up 0.3 %

NASDAQ NTRS opened at $82.29 on Friday. The company has a market capitalization of $16.84 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 1.17 and a beta of 1.10. Northern Trust Co. has a 1-year low of $62.44 and a 1-year high of $89.25. The firm’s fifty day simple moving average is $84.36 and its 200-day simple moving average is $82.80. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

Northern Trust (NASDAQ:NTRSGet Free Report) last issued its quarterly earnings data on Tuesday, April 16th. The asset manager reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.23. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. As a group, sell-side analysts anticipate that Northern Trust Co. will post 6.85 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Friday, June 7th. Northern Trust’s dividend payout ratio is presently 66.23%.

Insider Buying and Selling

In related news, insider Steven L. Fradkin sold 4,097 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total value of $338,248.32. Following the completion of the sale, the insider now directly owns 46,078 shares in the company, valued at $3,804,199.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Northern Trust news, insider Steven L. Fradkin sold 4,097 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total transaction of $338,248.32. Following the completion of the sale, the insider now directly owns 46,078 shares in the company, valued at $3,804,199.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peter Cherecwich sold 12,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the sale, the insider now owns 31,471 shares of the company’s stock, valued at $2,740,809.39. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NTRS shares. Bank of America upped their target price on Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Jefferies Financial Group upped their price target on Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, Evercore ISI upped their price target on Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Northern Trust currently has a consensus rating of “Hold” and a consensus price target of $84.92.

Check Out Our Latest Stock Analysis on NTRS

Northern Trust Profile

(Free Report)

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, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.

See Also

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

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