Raymond James Financial Services Advisors Inc. Reduces Position in Northern Trust Co. (NASDAQ:NTRS)

Raymond James Financial Services Advisors Inc. cut its holdings in shares of Northern Trust Co. (NASDAQ:NTRSGet Rating) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,188 shares of the asset manager’s stock after selling 227 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Northern Trust were worth $872,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of NTRS. Trust Co. of Vermont bought a new stake in Northern Trust during the 2nd quarter valued at approximately $33,000. LS Investment Advisors LLC bought a new stake in shares of Northern Trust during the 2nd quarter worth approximately $38,000. Clear Street Markets LLC lifted its stake in shares of Northern Trust by 411.8% during the 2nd quarter. Clear Street Markets LLC now owns 435 shares of the asset manager’s stock worth $42,000 after acquiring an additional 350 shares during the last quarter. Covestor Ltd lifted its stake in shares of Northern Trust by 64.8% during the 1st quarter. Covestor Ltd now owns 496 shares of the asset manager’s stock worth $58,000 after acquiring an additional 195 shares during the last quarter. Finally, CoreCap Advisors LLC bought a new stake in shares of Northern Trust during the 2nd quarter worth approximately $49,000. 81.44% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Trading Up 3.2 %

NTRS opened at $93.36 on Monday. The firm has a market cap of $19.46 billion, a price-to-earnings ratio of 15.21 and a beta of 1.06. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. Northern Trust Co. has a 12 month low of $76.15 and a 12 month high of $127.89. The stock has a fifty day moving average price of $91.33 and a 200-day moving average price of $92.25.

Northern Trust (NASDAQ:NTRSGet Rating) last announced its earnings results on Thursday, January 19th. The asset manager reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($1.10). Northern Trust had a return on equity of 14.89% and a net margin of 17.24%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter last year, the firm earned $1.91 earnings per share. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Northern Trust Co. will post 7.01 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Investors of record on Friday, March 10th will be paid a dividend of $0.75 per share. The ex-dividend date is Thursday, March 9th. This represents a $3.00 annualized dividend and a yield of 3.21%. Northern Trust’s dividend payout ratio (DPR) is 48.86%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. StockNews.com started coverage on Northern Trust in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Keefe, Bruyette & Woods lowered Northern Trust from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 19th. The Goldman Sachs Group lowered Northern Trust from a “buy” rating to a “neutral” rating and decreased their target price for the company from $97.00 to $95.00 in a research report on Wednesday, January 4th. Morgan Stanley decreased their target price on Northern Trust from $103.00 to $97.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Wells Fargo & Company decreased their target price on Northern Trust from $121.00 to $115.00 in a research report on Tuesday, December 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Northern Trust currently has a consensus rating of “Hold” and an average price target of $100.68.

Northern Trust Profile

(Get Rating)

Northern Trust Corp. is a financial holding company, which engages in the provision of asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals. It operates through the following segments: Corporate & Institutional Services and Wealth Management.

Further Reading

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

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