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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.
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.
Featured Article: Different Types of Derivatives
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).