Daiwa Securities Group Inc. Buys 860 Shares of Northern Trust Co. (NTRS)
Daiwa Securities Group Inc. increased its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 1.4% during the 4th quarter, Holdings Channel reports. The fund owned 62,130 shares of the asset manager’s stock after purchasing an additional 860 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Northern Trust were worth $6,206,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Field & Main Bank bought a new position in Northern Trust during the 4th quarter worth approximately $100,000. Cerebellum GP LLC bought a new position in Northern Trust during the 4th quarter worth approximately $132,000. MPS Loria Financial Planners LLC bought a new position in Northern Trust during the 2nd quarter worth approximately $134,000. Cetera Investment Advisers bought a new position in Northern Trust during the 2nd quarter worth approximately $205,000. Finally, Prudential PLC bought a new position in Northern Trust during the 2nd quarter worth approximately $207,000. Institutional investors and hedge funds own 80.69% of the company’s stock.
Several equities analysts recently issued reports on NTRS shares. Vining Sparks restated a “buy” rating and set a $118.00 price target on shares of Northern Trust in a research report on Wednesday, January 24th. Zacks Investment Research upgraded Northern Trust from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Tuesday, December 19th. Bank of America set a $102.00 price target on Northern Trust and gave the stock a “buy” rating in a research report on Thursday, October 19th. UBS Group lifted their price objective on Northern Trust from $100.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Finally, BidaskClub upgraded Northern Trust from a “hold” rating to a “buy” rating in a research report on Saturday, January 13th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Northern Trust has a consensus rating of “Hold” and an average target price of $104.81.
Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, January 24th. The asset manager reported $1.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.05. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. Northern Trust had a return on equity of 12.77% and a net margin of 20.98%. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period last year, the company earned $1.11 EPS. equities research analysts anticipate that Northern Trust Co. will post 6.02 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, March 8th. Northern Trust’s payout ratio is presently 34.15%.
In other news, Vice Chairman Stephen N. Potter sold 7,103 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $105.55, for a total value of $749,721.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Wilson Leech sold 8,958 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $106.17, for a total value of $951,070.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 186,673 shares of company stock valued at $18,723,553. 1.27% of the stock is currently owned by company insiders.
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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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