DNB Asset Management AS lessened its stake in Northern Trust Co. (NASDAQ:NTRS) by 18.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,368 shares of the asset manager’s stock after selling 5,301 shares during the quarter. DNB Asset Management AS’s holdings in Northern Trust were worth $2,113,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NTRS. First Mercantile Trust Co. boosted its holdings in shares of Northern Trust by 63.6% in the 4th quarter. First Mercantile Trust Co. now owns 360 shares of the asset manager’s stock valued at $30,000 after buying an additional 140 shares during the last quarter. Synovus Financial Corp lifted its holdings in Northern Trust by 66.0% during the 4th quarter. Synovus Financial Corp now owns 503 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 200 shares during the last quarter. Exane Asset Management acquired a new stake in Northern Trust during the 4th quarter valued at $44,000. Rehmann Capital Advisory Group lifted its holdings in Northern Trust by 161.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 473 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 292 shares during the last quarter. Finally, Kaizen Advisory LLC lifted its holdings in Northern Trust by 20.3% during the 4th quarter. Kaizen Advisory LLC now owns 645 shares of the asset manager’s stock valued at $54,000 after purchasing an additional 109 shares during the last quarter. 78.95% of the stock is owned by institutional investors.
NTRS stock opened at $95.62 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.35. The firm has a market cap of $20.55 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 1.24 and a beta of 1.06. Northern Trust Co. has a fifty-two week low of $75.96 and a fifty-two week high of $115.61.
Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, January 23rd. The asset manager reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.19. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Northern Trust had a return on equity of 16.62% and a net margin of 23.37%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.51 EPS. As a group, equities analysts expect that Northern Trust Co. will post 6.66 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Northern Trust’s previous quarterly dividend of $0.55. Northern Trust’s payout ratio is currently 35.66%.
Several equities research analysts have issued reports on NTRS shares. Credit Suisse Group reaffirmed a “hold” rating and set a $101.00 price target on shares of Northern Trust in a report on Tuesday, February 19th. Barclays cut their price target on Northern Trust from $119.00 to $109.00 and set an “equal weight” rating for the company in a report on Wednesday, January 2nd. Zacks Investment Research downgraded Northern Trust from a “hold” rating to a “sell” rating in a report on Wednesday, December 19th. Buckingham Research raised Northern Trust from a “neutral” rating to a “buy” rating and raised their price target for the company from $104.00 to $115.00 in a report on Thursday, March 14th. Finally, Jefferies Financial Group downgraded Northern Trust from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Northern Trust currently has an average rating of “Hold” and a consensus price target of $110.45.
Northern Trust Company Profile
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.
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