BT Investment Management Ltd Acquires 565 Shares of Northern Trust Corporation (NTRS)
BT Investment Management Ltd boosted its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 16.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,007 shares of the asset manager’s stock after acquiring an additional 565 shares during the period. BT Investment Management Ltd’s holdings in Northern Trust Corporation were worth $368,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Salem Investment Counselors Inc. lifted its holdings in Northern Trust Corporation by 8.3% in the second quarter. Salem Investment Counselors Inc. now owns 1,083 shares of the asset manager’s stock worth $105,000 after acquiring an additional 83 shares during the last quarter. Huntington National Bank lifted its holdings in Northern Trust Corporation by 54.0% in the second quarter. Huntington National Bank now owns 1,089 shares of the asset manager’s stock worth $106,000 after acquiring an additional 382 shares during the last quarter. Dupont Capital Management Corp bought a new position in Northern Trust Corporation in the second quarter worth about $107,000. MPS Loria Financial Planners LLC bought a new position in Northern Trust Corporation in the second quarter worth about $134,000. Finally, Bessemer Group Inc. increased its stake in shares of Northern Trust Corporation by 16.9% in the second quarter. Bessemer Group Inc. now owns 1,461 shares of the asset manager’s stock valued at $143,000 after purchasing an additional 211 shares during the period. 82.23% of the stock is currently owned by hedge funds and other institutional investors.
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NTRS has been the topic of several analyst reports. Deutsche Bank AG dropped their price target on shares of Northern Trust Corporation from $103.00 to $93.00 and set a “hold” rating on the stock in a research note on Thursday, July 20th. Zacks Investment Research lowered shares of Northern Trust Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 28th. UBS AG upgraded shares of Northern Trust Corporation from a “neutral” rating to a “buy” rating and raised their price target for the company from $92.00 to $100.00 in a research note on Friday, September 8th. Bank of America Corporation dropped their price target on shares of Northern Trust Corporation from $106.00 to $97.00 and set a “buy” rating on the stock in a research note on Thursday, July 20th. Finally, BidaskClub lowered shares of Northern Trust Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $97.07.
In other news, Vice Chairman William L. Morrison sold 11,058 shares of the firm’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $94.34, for a total transaction of $1,043,211.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Frederick H. Waddell sold 177,964 shares of the firm’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $95.64, for a total transaction of $17,020,476.96. The disclosure for this sale can be found here. Insiders have sold a total of 345,844 shares of company stock worth $32,418,879 in the last 90 days. 1.27% of the stock is owned by insiders.
Shares of Northern Trust Corporation (NTRS) opened at $92.51 on Friday. The stock has a market cap of $20,959.13, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 2.04 and a beta of 0.96. Northern Trust Corporation has a 52 week low of $78.06 and a 52 week high of $99.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.71 and a current ratio of 0.71.
Northern Trust Corporation (NASDAQ:NTRS) last issued its earnings results on Wednesday, October 18th. The asset manager reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 Corporation had a net margin of 20.27% and a return on equity of 12.33%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the business posted $1.11 EPS. equities research analysts expect that Northern Trust Corporation will post 4.68 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 1st will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.82%. Northern Trust Corporation’s dividend payout ratio is currently 37.17%.
Northern Trust Corporation declared that its Board of Directors has approved a stock repurchase program on Tuesday, July 18th that permits the company to repurchase 9,500,000 outstanding shares. This repurchase authorization permits the asset manager to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
Northern Trust Corporation 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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