November 10, 2019 at 5:56 pm

Whitnell & Co. Boosts Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

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Whitnell & Co. boosted its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 285.7% during the third quarter, HoldingsChannel.com reports. The firm owned 10,800 shares of the asset manager’s stock after acquiring an additional 8,000 shares during the period. Whitnell & Co.’s holdings in Northern Trust were worth $1,008,000 at the end of the most recent quarter.

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Other large investors also recently bought and sold shares of the company. Litman Gregory Asset Management LLC acquired a new stake in shares of Northern Trust in the second quarter worth $25,000. Trust Co. of Vermont increased its position in shares of Northern Trust by 750.0% in the second quarter. Trust Co. of Vermont now owns 340 shares of the asset manager’s stock worth $31,000 after acquiring an additional 300 shares in the last quarter. Kavar Capital Partners LLC acquired a new stake in shares of Northern Trust in the second quarter worth $32,000. Oakworth Capital Inc. acquired a new stake in shares of Northern Trust in the second quarter worth $34,000. Finally, Smith Asset Management Group LP increased its position in shares of Northern Trust by 90.0% in the second quarter. Smith Asset Management Group LP now owns 380 shares of the asset manager’s stock worth $34,000 after acquiring an additional 180 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors.

NASDAQ:NTRS traded up $0.39 during mid-day trading on Friday, hitting $107.65. The stock had a trading volume of 880,500 shares, compared to its average volume of 1,164,009. The company has a 50 day simple moving average of $95.80 and a 200-day simple moving average of $92.61. The stock has a market capitalization of $22.35 billion, a price-to-earnings ratio of 16.00, a P/E/G 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. Northern Trust Co. has a 52 week low of $75.96 and a 52 week high of $108.45.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, October 23rd. The asset manager reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.06. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. Northern Trust had a net margin of 22.10% and a return on equity of 15.66%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $1.58 earnings per share. As a group, equities research analysts anticipate that Northern Trust Co. will post 6.66 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, December 12th. Northern Trust’s dividend payout ratio (DPR) is currently 41.60%.

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective 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. Citigroup set a $92.00 price objective on shares of Northern Trust and gave the stock a “sell” rating in a research report on Friday, October 25th. Morgan Stanley dropped their price objective on shares of Northern Trust from $93.00 to $90.00 and set an “underweight” rating for the company in a research report on Friday, October 4th. Buckingham Research dropped their price objective 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. Finally, BidaskClub raised shares of Northern Trust from a “hold” rating to a “buy” rating in a research report on Thursday. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. Northern Trust has a consensus rating of “Hold” and an average price target of $102.53.

In other news, EVP Thomas A. South sold 1,000 shares of Northern Trust stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $98.54, for a total value of $98,540.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert P. Browne sold 11,534 shares of Northern Trust stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $107.85, for a total transaction of $1,243,941.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,026 shares of company stock worth $4,364,026. 1.15% of the stock is currently owned by insiders.

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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Want to see what other hedge funds are holding NTRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northern Trust Co. (NASDAQ:NTRS).

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

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