Crestline Management LP Purchases New Position in Northern Trust Co. (NTRS)
Crestline Management LP purchased a new position in shares of Northern Trust Co. (NASDAQ:NTRS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 42,671 shares of the asset manager’s stock, valued at approximately $3,923,000. Northern Trust makes up 0.5% of Crestline Management LP’s portfolio, making the stock its 22nd biggest holding.
Other large investors also recently made changes to their positions in the company. Salem Investment Counselors Inc. raised its stake in Northern Trust by 8.3% during the 2nd 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 in the last quarter. Dupont Capital Management Corp acquired a new stake in Northern Trust during the 2nd quarter worth $107,000. Bessemer Group Inc. raised its stake in Northern Trust by 16.9% during the 2nd quarter. Bessemer Group Inc. now owns 1,461 shares of the asset manager’s stock worth $143,000 after acquiring an additional 211 shares in the last quarter. MPS Loria Financial Planners LLC acquired a new stake in Northern Trust during the 2nd quarter worth $134,000. Finally, Sun Life Financial INC raised its stake in Northern Trust by 15,740.0% during the 2nd quarter. Sun Life Financial INC now owns 1,584 shares of the asset manager’s stock worth $154,000 after acquiring an additional 1,574 shares in the last quarter. Hedge funds and other institutional investors own 81.75% of the company’s stock.
Several brokerages have issued reports on NTRS. Zacks Investment Research downgraded shares of Northern Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Buckingham Research raised their price objective on shares of Northern Trust from $95.00 to $97.00 and gave the stock a “neutral” rating in a research report on Thursday, October 19th. Royal Bank Of Canada reissued a “buy” rating and set a $97.00 price objective on shares of Northern Trust in a research report on Friday, August 18th. UBS raised their price objective on shares of Northern Trust from $100.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Finally, Morgan Stanley raised their price objective on shares of Northern Trust from $83.00 to $91.00 and gave the stock an “underweight” rating in a research report on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $97.07.
Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, October 18th. The asset manager reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.08. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Northern Trust had a net margin of 20.27% and a return on equity of 12.33%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.11 earnings per share. equities analysts anticipate that Northern Trust Co. will post 4.68 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 1st will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Thursday, November 30th. Northern Trust’s payout ratio is 37.09%.
In other news, COO Jana R. Schreuder sold 2,600 shares of Northern Trust stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $99.02, for a total value of $257,452.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Aileen B. Blake sold 1,000 shares of Northern Trust stock in a transaction dated Wednesday, September 27th. The shares were 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. In the last ninety days, insiders sold 433,382 shares of company stock worth $41,304,013. Insiders own 1.27% of the company’s stock.
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Northern Trust 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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