Northern Trust Co. (NASDAQ:NTRS) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its position in shares of Northern Trust Co. (NASDAQ:NTRSGet Rating) by 22.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 35,107 shares of the asset manager’s stock after selling 10,440 shares during the period. State of Alaska Department of Revenue’s holdings in Northern Trust were worth $3,387,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NTRS. Eaton Vance Management boosted its holdings in Northern Trust by 1,080.5% during the 1st quarter. Eaton Vance Management now owns 600,908 shares of the asset manager’s stock valued at $69,974,000 after acquiring an additional 550,006 shares during the period. Mairs & Power Inc. purchased a new position in Northern Trust during the 1st quarter valued at about $61,242,000. Vanguard Group Inc. boosted its holdings in Northern Trust by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 22,711,584 shares of the asset manager’s stock valued at $2,644,763,000 after acquiring an additional 457,748 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Northern Trust by 14.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,010,268 shares of the asset manager’s stock valued at $360,059,000 after acquiring an additional 379,175 shares during the period. Finally, NN Investment Partners Holdings N.V. boosted its holdings in Northern Trust by 33.4% during the 1st quarter. NN Investment Partners Holdings N.V. now owns 1,474,120 shares of the asset manager’s stock valued at $171,660,000 after acquiring an additional 368,751 shares during the period. 83.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NTRS has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their target price on Northern Trust from $141.00 to $121.00 and set an “overweight” rating for the company in a report on Friday, July 1st. Morgan Stanley lifted their price objective on Northern Trust from $110.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, July 21st. Piper Sandler decreased their price objective on Northern Trust from $141.00 to $121.00 and set an “overweight” rating for the company in a research note on Friday, June 24th. Citigroup decreased their price objective on Northern Trust from $125.00 to $100.00 in a research note on Tuesday, July 12th. Finally, JPMorgan Chase & Co. decreased their price objective on Northern Trust from $115.00 to $107.50 in a research note on Monday, July 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $120.19.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $91.18 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. Northern Trust Co. has a fifty-two week low of $89.68 and a fifty-two week high of $135.15. The firm has a market capitalization of $19.00 billion, a PE ratio of 12.42 and a beta of 1.12. The stock’s 50-day simple moving average is $97.83 and its 200-day simple moving average is $103.45.

Northern Trust (NASDAQ:NTRSGet Rating) last issued its earnings results on Wednesday, July 20th. The asset manager reported $1.86 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.07). The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. Northern Trust had a return on equity of 14.82% and a net margin of 23.13%. Northern Trust’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the business posted $1.72 EPS. As a group, equities research analysts forecast that Northern Trust Co. will post 7.45 EPS for the current fiscal year.

Northern Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 9th will be given a dividend of $0.75 per share. This is a positive change from Northern Trust’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, September 8th. This represents a $3.00 annualized dividend and a yield of 3.29%. Northern Trust’s payout ratio is 40.87%.

Northern Trust Profile

(Get Rating)

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Corporate & Institutional Services (C&IS) and Wealth Management.

Read More

Want to see what other hedge funds are holding NTRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northern Trust Co. (NASDAQ:NTRSGet Rating).

Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

Receive News & Ratings for Northern Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Trust and related companies with MarketBeat.com's FREE daily email newsletter.