Oppenheimer Asset Management Inc. raised its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 4,790.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 113,503 shares of the asset manager's stock after acquiring an additional 111,182 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.06% of Northern Trust worth $11,197,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in NTRS. Colonial Trust Co SC boosted its position in shares of Northern Trust by 6,400.0% during the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock worth $27,000 after acquiring an additional 256 shares in the last quarter. Continuum Advisory LLC boosted its position in shares of Northern Trust by 5,340.0% during the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock worth $27,000 after acquiring an additional 267 shares in the last quarter. Assetmark Inc. boosted its position in shares of Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock worth $39,000 after acquiring an additional 317 shares in the last quarter. Coppell Advisory Solutions LLC acquired a new stake in shares of Northern Trust in the 4th quarter valued at about $44,000. Finally, True Wealth Design LLC boosted its position in shares of Northern Trust by 84.0% in the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager's stock valued at $44,000 after purchasing an additional 194 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.
Northern Trust Price Performance
Northern Trust stock traded down $2.63 during mid-day trading on Tuesday, hitting $118.18. 4,712,139 shares of the company were exchanged, compared to its average volume of 1,384,924. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.71 and a quick ratio of 0.71. The business's 50 day simple moving average is $103.08 and its two-hundred day simple moving average is $103.36. The company has a market capitalization of $22.99 billion, a P/E ratio of 11.02, a PEG ratio of 1.83 and a beta of 1.22. Northern Trust Corporation has a 12-month low of $80.81 and a 12-month high of $123.31.
Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.85 by $0.05. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.95 billion. Northern Trust had a return on equity of 13.73% and a net margin of 13.93%. Analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.
Northern Trust Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Friday, June 6th. Northern Trust's dividend payout ratio is currently 27.99%.
Insider Activity
In related news, insider Teresa Parker sold 6,467 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $100.62, for a total value of $650,709.54. Following the transaction, the insider now owns 79,391 shares in the company, valued at approximately $7,988,322.42. The trade was a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Clive Bellows sold 3,300 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the transaction, the executive vice president now owns 28,736 shares in the company, valued at approximately $2,872,163.20. This trade represents a 10.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,772 shares of company stock valued at $981,069 over the last quarter. Company insiders own 0.77% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on NTRS. Royal Bank Of Canada decreased their target price on Northern Trust from $115.00 to $105.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Citigroup decreased their price objective on Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Wells Fargo & Company decreased their price objective on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. Bank of America decreased their price objective on Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Finally, Evercore ISI decreased their price objective on Northern Trust from $104.00 to $100.00 and set an "in-line" rating for the company in a research report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $108.42.
Check Out Our Latest Stock Analysis on Northern Trust
Northern Trust 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.
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