Northern Trust Co. (NTRS) Stake Increased by LMR Partners LLP
LMR Partners LLP grew its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 16.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 5,931 shares of the asset manager’s stock after acquiring an additional 844 shares during the quarter. LMR Partners LLP’s holdings in Northern Trust were worth $546,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership raised its holdings in shares of Northern Trust by 7,106.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 526,081 shares of the asset manager’s stock worth $51,140,000 after buying an additional 518,781 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Northern Trust by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 14,255,623 shares of the asset manager’s stock worth $1,385,789,000 after buying an additional 363,691 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Northern Trust by 18.4% during the 2nd quarter. Wells Fargo & Company MN now owns 1,925,499 shares of the asset manager’s stock worth $187,177,000 after buying an additional 299,230 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Northern Trust by 14.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,965,535 shares of the asset manager’s stock worth $180,691,000 after buying an additional 255,106 shares in the last quarter. Finally, Cortland Advisers LLC raised its holdings in shares of Northern Trust by 355.3% during the 2nd quarter. Cortland Advisers LLC now owns 302,078 shares of the asset manager’s stock worth $29,365,000 after buying an additional 235,727 shares in the last quarter. Hedge funds and other institutional investors own 80.08% of the company’s stock.
A number of research firms have recently commented on NTRS. Zacks Investment Research raised Northern Trust from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub raised Northern Trust from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Wells Fargo & Company began coverage on Northern Trust in a report on Wednesday, August 9th. They set a “market perform” rating and a $90.00 price target for the company. Buckingham Research boosted their price target on Northern Trust from $95.00 to $97.00 and gave the stock a “neutral” rating in a report on Thursday, October 19th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $97.00 price target on shares of Northern Trust in a report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Northern Trust has an average rating of “Hold” and an average target price of $97.07.
Northern Trust Co. (NTRS) opened at $94.26 on Monday. Northern Trust Co. has a fifty-two week low of $80.49 and a fifty-two week high of $99.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $21,436.71, a PE ratio of 20.58, a price-to-earnings-growth ratio of 2.08 and a beta of 0.96.
Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, October 18th. The asset manager reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.08. Northern Trust had a return on equity of 12.02% and a net margin of 20.82%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the prior year, the firm earned $1.11 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. equities analysts forecast that Northern Trust Co. will post 4.68 earnings per share for the current year.
The company also recently announced 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 is Thursday, November 30th. This represents a $1.68 dividend on an annualized basis and a yield of 1.78%. Northern Trust’s payout ratio is presently 37.17%.
In other news, COO Jana R. Schreuder sold 5,581 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $90.00, for a total value of $502,290.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman William L. Morrison sold 11,058 shares of the stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $94.34, for a total value of $1,043,211.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 323,268 shares of company stock valued at $30,408,464. Insiders own 1.27% of the company’s stock.
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About Northern Trust
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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