Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Northern Trust Co. (NASDAQ:NTRS – Get Rating) by 4.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 14,728 shares of the asset manager’s stock after selling 640 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Northern Trust were worth $1,715,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System raised its holdings in shares of Northern Trust by 0.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the asset manager’s stock valued at $1,483,000 after purchasing an additional 100 shares in the last quarter. Atwood & Palmer Inc. lifted its position in shares of Northern Trust by 34.5% in the 1st quarter. Atwood & Palmer Inc. now owns 390 shares of the asset manager’s stock worth $46,000 after acquiring an additional 100 shares during the period. Checchi Capital Advisers LLC lifted its position in shares of Northern Trust by 4.3% in the 1st quarter. Checchi Capital Advisers LLC now owns 2,418 shares of the asset manager’s stock worth $282,000 after acquiring an additional 100 shares during the period. Chicago Capital LLC raised its holdings in shares of Northern Trust by 0.9% in the 1st quarter. Chicago Capital LLC now owns 11,627 shares of the asset manager’s stock worth $1,354,000 after buying an additional 108 shares in the last quarter. Finally, Brookstone Capital Management raised its holdings in shares of Northern Trust by 3.8% in the 1st quarter. Brookstone Capital Management now owns 3,098 shares of the asset manager’s stock worth $356,000 after buying an additional 114 shares in the last quarter. Institutional investors and hedge funds own 83.59% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on NTRS shares. JPMorgan Chase & Co. dropped their price target on Northern Trust from $115.00 to $107.50 in a report on Monday, July 11th. Piper Sandler decreased their target price 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. 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 research note on Friday, July 1st. Deutsche Bank Aktiengesellschaft increased their target price on Northern Trust from $112.00 to $123.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. Finally, Barclays decreased their price target on shares of Northern Trust from $140.00 to $120.00 and set an “equal weight” rating for the company in a research note on Thursday, July 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $120.19.
Northern Trust Stock Down 2.6 %
Northern Trust (NASDAQ:NTRS – Get Rating) last issued its quarterly earnings results on Wednesday, July 20th. The asset manager reported $1.86 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.07). The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. Northern Trust had a return on equity of 14.82% and a net margin of 23.13%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.72 EPS. Sell-side analysts forecast that Northern Trust Co. will post 7.45 earnings per share for the current fiscal year.
Northern Trust Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be paid a $0.75 dividend. This is an increase 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 dividend payout ratio is presently 40.87%.
Northern Trust Company Profile
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.
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