BNP Paribas Financial Markets Buys 22,332 Shares of Northern Trust Co. (NASDAQ:NTRS)

BNP Paribas Financial Markets increased its stake in shares of Northern Trust Co. (NASDAQ:NTRSFree Report) by 23.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 117,841 shares of the asset manager’s stock after buying an additional 22,332 shares during the period. BNP Paribas Financial Markets owned 0.06% of Northern Trust worth $10,478,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Spartan Planning & Wealth Management raised its stake in Northern Trust by 10,566.7% in the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock worth $27,000 after purchasing an additional 317 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in Northern Trust in the 4th quarter worth about $28,000. Quent Capital LLC raised its stake in Northern Trust by 77.8% in the 4th quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after purchasing an additional 158 shares in the last quarter. Allworth Financial LP raised its stake in Northern Trust by 94.1% in the 4th quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock worth $30,000 after purchasing an additional 174 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new stake in Northern Trust in the 4th quarter worth about $45,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Price Performance

NTRS stock opened at $83.93 on Wednesday. The company has a 50 day simple moving average of $83.66 and a 200 day simple moving average of $83.13. The stock has a market cap of $17.17 billion, a price-to-earnings ratio of 18.53, a P/E/G 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 company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71.

Northern Trust (NASDAQ:NTRSGet Free Report) last posted its earnings results on Tuesday, April 16th. The asset manager reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.23. Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.79 billion. Research analysts anticipate that Northern Trust Co. will post 6.91 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date was Friday, June 7th. Northern Trust’s payout ratio is 66.23%.

Insiders Place Their Bets

In other Northern Trust news, insider Peter Cherecwich sold 12,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 31,471 shares of the company’s stock, valued at approximately $2,740,809.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 sale, the insider now directly owns 46,078 shares of the company’s stock, valued at approximately $3,804,199.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Peter Cherecwich sold 12,000 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now directly owns 31,471 shares in the company, valued at $2,740,809.39. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

NTRS has been the subject of several analyst reports. Bank of America boosted their target price on shares of Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Jefferies Financial Group boosted their target price on shares of Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Evercore ISI boosted their target price on shares of Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. The Goldman Sachs Group dropped their target price on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a research report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $86.42.

Check Out Our Latest Stock Report on Northern Trust

Northern Trust Company 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.

Further Reading

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

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