Huntington National Bank Increases Position in Northern Trust Co. (NASDAQ:NTRS)

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Huntington National Bank increased its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 137.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,782 shares of the asset manager’s stock after buying an additional 1,611 shares during the quarter. Huntington National Bank’s holdings in Northern Trust were worth $260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lantz Financial LLC grew its holdings in shares of Northern Trust by 1.7% during the second quarter. Lantz Financial LLC now owns 20,829 shares of the asset manager’s stock valued at $1,914,000 after buying an additional 347 shares during the last quarter. Prio Wealth Limited Partnership lifted its position in Northern Trust by 0.3% during the second quarter. Prio Wealth Limited Partnership now owns 140,980 shares of the asset manager’s stock valued at $12,688,000 after purchasing an additional 375 shares during the period. First Mercantile Trust Co. lifted its position in Northern Trust by 1,393.2% during the second quarter. First Mercantile Trust Co. now owns 8,526 shares of the asset manager’s stock valued at $768,000 after purchasing an additional 7,955 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Northern Trust by 6.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 6,221,336 shares of the asset manager’s stock valued at $559,920,000 after purchasing an additional 390,783 shares during the period. Finally, Advisory Services Network LLC lifted its position in Northern Trust by 3.6% during the second quarter. Advisory Services Network LLC now owns 15,844 shares of the asset manager’s stock valued at $1,426,000 after purchasing an additional 547 shares during the period. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Thomas A. South sold 1,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $98.54, for a total transaction of $98,540.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert P. Browne sold 10,680 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $101.56, for a total transaction of $1,084,660.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,026 shares of company stock valued at $4,364,026. 1.15% of the stock is owned by corporate insiders.

Shares of Northern Trust stock traded up $0.39 during trading hours on Friday, reaching $107.65. The stock had a trading volume of 880,500 shares, compared to its average volume of 1,164,009. Northern Trust Co. has a twelve month low of $75.96 and a twelve month high of $108.45. The firm has a market capitalization of $22.35 billion, a PE ratio of 16.00, a PEG ratio of 1.69 and a beta of 1.22. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average is $95.80 and its 200 day moving average is $92.61.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.06. Northern Trust had a net margin of 22.10% and a return on equity of 15.66%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the company earned $1.58 EPS. Northern Trust’s revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts predict that Northern Trust Co. will post 6.66 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, December 12th. This represents a $2.80 annualized dividend and a yield of 2.60%. Northern Trust’s dividend payout ratio is presently 41.60%.

A number of research analysts recently issued reports on the stock. BidaskClub upgraded shares of Northern Trust from a “hold” rating to a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. decreased their target price on shares of Northern Trust from $101.50 to $98.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Buckingham Research decreased their target price on shares of Northern Trust from $118.00 to $112.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Wells Fargo & Co set a $110.00 target price on shares of Northern Trust and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, UBS Group downgraded shares of Northern Trust from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $102.53.

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

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