Contravisory Investment Management Inc. purchased a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,906 shares of the asset manager's stock, valued at approximately $876,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in shares of Northern Trust by 47.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager's stock valued at $178,637,000 after purchasing an additional 585,992 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Northern Trust by 4.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager's stock valued at $774,411,000 after purchasing an additional 363,472 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Northern Trust by 8.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager's stock valued at $8,383,000 after purchasing an additional 6,570 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Northern Trust by 529.4% during the 1st quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager's stock valued at $45,515,000 after purchasing an additional 388,081 shares in the last quarter. Finally, Kathmere Capital Management LLC raised its holdings in shares of Northern Trust by 96.7% during the 1st quarter. Kathmere Capital Management LLC now owns 5,239 shares of the asset manager's stock valued at $517,000 after purchasing an additional 2,575 shares in the last quarter. Institutional investors own 83.19% of the company's stock.
Northern Trust Stock Performance
NASDAQ NTRS traded down $0.72 during midday trading on Friday, hitting $131.50. The company had a trading volume of 2,960,636 shares, compared to its average volume of 1,002,896. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. The stock has a market cap of $25.15 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 1.57 and a beta of 1.30. The firm has a fifty day simple moving average of $128.33 and a two-hundred day simple moving average of $112.38. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $133.00.
Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.05. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The business's quarterly revenue was down 26.4% on a year-over-year basis. During the same period last year, the business posted $4.34 EPS. Equities analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.
Northern Trust Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be given a dividend of $0.80 per share. This is an increase from Northern Trust's previous quarterly dividend of $0.75. The ex-dividend date is Friday, September 5th. This represents a $3.20 annualized dividend and a dividend yield of 2.4%. Northern Trust's dividend payout ratio (DPR) is presently 37.60%.
Insider Buying and Selling at Northern Trust
In other Northern Trust news, Director Robert Edward Jr. Moritz bought 256 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the transaction, the director owned 2,525 shares in the company, valued at approximately $319,008.50. The trade was a 11.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.77% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the stock. Citigroup lifted their target price on shares of Northern Trust from $110.00 to $135.00 and gave the stock a "neutral" rating in a report on Friday, September 5th. Wells Fargo & Company lifted their target price on shares of Northern Trust from $111.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Keefe, Bruyette & Woods reiterated an "underperform" rating and issued a $118.00 target price (down previously from $120.00) on shares of Northern Trust in a report on Thursday, July 24th. The Goldman Sachs Group lifted their target price on shares of Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a report on Wednesday, July 2nd. Finally, Wolfe Research upgraded shares of Northern Trust from an "underperform" rating to a "peer perform" rating in a report on Thursday, July 24th. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Northern Trust has an average rating of "Reduce" and an average target price of $119.58.
Read Our Latest Research 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.
Featured Stories
Before you consider Northern Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Northern Trust wasn't on the list.
While Northern Trust currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
