13,494 Shares in Northern Trust Co. (NTRS) Acquired by Engineers Gate Manager LP
Engineers Gate Manager LP bought a new stake in Northern Trust Co. (NASDAQ:NTRS) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,494 shares of the asset manager’s stock, valued at approximately $1,241,000.
Several other hedge funds have also added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. lifted its position in shares of Northern Trust by 4.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 675,307 shares of the asset manager’s stock worth $65,647,000 after acquiring an additional 26,164 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Northern Trust by 0.7% in the second quarter. Principal Financial Group Inc. now owns 337,497 shares of the asset manager’s stock worth $32,808,000 after buying an additional 2,298 shares in the last quarter. Eaton Vance Management raised its position in shares of Northern Trust by 0.3% in the second quarter. Eaton Vance Management now owns 753,651 shares of the asset manager’s stock worth $73,262,000 after buying an additional 2,397 shares in the last quarter. Delta Lloyd Asset Management N.V. purchased a new stake in shares of Northern Trust in the second quarter worth $2,799,000. Finally, Toronto Dominion Bank increased its stake in Northern Trust by 11.0% in the third quarter. Toronto Dominion Bank now owns 81,627 shares of the asset manager’s stock valued at $7,502,000 after acquiring an additional 8,120 shares during the last quarter. 81.75% of the stock is owned by institutional investors.
Shares of Northern Trust Co. (NASDAQ:NTRS) opened at $98.55 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $22,187.20, a PE ratio of 21.30, a PEG ratio of 2.08 and a beta of 0.96. Northern Trust Co. has a 1-year low of $81.92 and a 1-year high of $99.66.
Northern Trust (NASDAQ:NTRS) last posted its earnings results on Wednesday, October 18th. The asset manager reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.08. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Northern Trust had a net margin of 20.27% and a return on equity of 12.33%. Northern Trust’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.11 earnings per share. research analysts predict that Northern Trust Co. will post 4.68 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 1st will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.68 annualized dividend and a yield of 1.70%. Northern Trust’s dividend payout ratio (DPR) is presently 37.17%.
In other Northern Trust news, Chairman Frederick H. Waddell sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $92.00, for a total value of $9,200,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Aileen B. Blake sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $92.00, for a total transaction of $92,000.00. The disclosure for this sale can be found here. Insiders sold 433,382 shares of company stock valued at $41,304,013 over the last 90 days. 1.27% of the stock is currently owned by company insiders.
A number of research analysts recently commented on the company. Citigroup reissued a “neutral” rating and issued a $92.00 target price (up previously from $90.00) on shares of Northern Trust in a research note on Monday, October 9th. Royal Bank of Canada reissued a “buy” rating and issued a $97.00 target price on shares of Northern Trust in a research note on Friday, August 18th. Zacks Investment Research raised Northern Trust from a “sell” rating to a “hold” rating in a research note on Monday, September 25th. UBS raised Northern Trust from a “neutral” rating to a “buy” rating and increased their target price for the company from $92.00 to $100.00 in a research note on Friday, September 8th. Finally, Bank of America set a $102.00 target price on Northern Trust and gave the company a “buy” rating in a research note on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Northern Trust has an average rating of “Hold” and a consensus price target of $97.07.
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Northern Trust Company Profile
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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