Heartland Advisors Inc. decreased its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 19.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,235 shares of the asset manager's stock after selling 26,493 shares during the quarter. Heartland Advisors Inc. owned 0.06% of Northern Trust worth $14,647,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of NTRS. Norges Bank purchased a new position in shares of Northern Trust during the fourth quarter valued at $257,410,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Northern Trust during the fourth quarter valued at $126,794,000. Jupiter Asset Management Ltd. grew its holdings in shares of Northern Trust by 114.1% during the fourth quarter. Jupiter Asset Management Ltd. now owns 1,031,579 shares of the asset manager's stock valued at $140,903,000 after buying an additional 549,681 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Northern Trust during the fourth quarter valued at $67,126,000. Finally, AQR Capital Management LLC grew its holdings in shares of Northern Trust by 67.1% during the third quarter. AQR Capital Management LLC now owns 1,019,531 shares of the asset manager's stock valued at $136,750,000 after buying an additional 409,434 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.
Northern Trust Stock Performance
Shares of NASDAQ NTRS opened at $166.13 on Thursday. The business's 50-day moving average price is $161.46 and its two-hundred day moving average price is $148.39. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62. Northern Trust Corporation has a one year low of $107.08 and a one year high of $173.66. The company has a market capitalization of $30.74 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 1.22 and a beta of 1.25.
Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.34. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The firm's revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.90 EPS. Analysts anticipate that Northern Trust Corporation will post 10.68 earnings per share for the current fiscal year.
Northern Trust Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.9%. Northern Trust's dividend payout ratio is currently 33.51%.
Wall Street Analyst Weigh In
A number of research analysts have commented on NTRS shares. JPMorgan Chase & Co. boosted their target price on Northern Trust from $153.50 to $170.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Wells Fargo & Company boosted their target price on Northern Trust from $150.00 to $175.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 22nd. BMO Capital Markets upgraded Northern Trust from a "market perform" rating to an "outperform" rating and set a $168.00 target price on the stock in a research note on Monday, April 6th. The Goldman Sachs Group boosted their target price on Northern Trust from $151.00 to $169.00 and gave the company a "neutral" rating in a research note on Wednesday, April 22nd. Finally, Zacks Research upgraded Northern Trust from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $164.08.
Get Our Latest Report on Northern Trust
Insider Activity
In related news, Director Robert Edward Jr. Moritz acquired 225 shares of the stock in a transaction dated Friday, May 1st. The shares were acquired at an average price of $166.41 per share, with a total value of $37,442.25. Following the acquisition, the director owned 8,145 shares in the company, valued at approximately $1,355,409.45. The trade was a 2.84% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Clive Bellows sold 2,800 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $165.02, for a total value of $462,056.00. Following the transaction, the insider directly owned 28,217 shares in the company, valued at approximately $4,656,369.34. This represents a 9.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 22,800 shares of company stock valued at $3,785,251. Insiders own 0.66% of the company's stock.
Northern Trust Company Profile
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Free Report)
Northern Trust Corporation NASDAQ: NTRS is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company's core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.
Northern Trust's product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.
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