Davis R M Inc. trimmed its stake in shares of Northern Trust Co. (NASDAQ:NTRS – Free Report) by 28.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,227 shares of the asset manager’s stock after selling 47,126 shares during the period. Davis R M Inc. owned about 0.06% of Northern Trust worth $8,839,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Northern Trust by 2.1% in the first 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 last quarter. FMR LLC raised its position in Northern Trust by 7.5% during the first quarter. FMR LLC now owns 10,460,839 shares of the asset manager’s stock worth $921,914,000 after acquiring an additional 731,301 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Northern Trust by 17.8% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,108,597 shares of the asset manager’s stock valued at $450,221,000 after acquiring an additional 772,279 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Northern Trust by 2.3% during the 1st quarter. Geode Capital Management LLC now owns 4,464,322 shares of the asset manager’s stock worth $392,593,000 after purchasing an additional 98,711 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Northern Trust by 4.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,367,356 shares of the asset manager’s stock valued at $323,796,000 after purchasing an additional 201,644 shares during the period. 81.64% of the stock is owned by institutional investors.
Insider Activity at Northern Trust
In related news, CEO Michael O’grady acquired 20,000 shares of the stock in a transaction dated Monday, October 23rd. The stock was bought at an average cost of $65.10 per share, for a total transaction of $1,302,000.00. Following the completion of the transaction, the chief executive officer now directly owns 219,779 shares of the company’s stock, valued at $14,307,612.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Northern Trust news, CEO Michael O’grady acquired 20,000 shares of the company’s stock in a transaction dated Monday, October 23rd. The shares were bought at an average cost of $65.10 per share, with a total value of $1,302,000.00. Following the purchase, the chief executive officer now directly owns 219,779 shares of the company’s stock, valued at $14,307,612.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Susan Cohen Levy acquired 5,000 shares of Northern Trust stock in a transaction dated Tuesday, October 24th. The shares were bought at an average cost of $64.41 per share, with a total value of $322,050.00. Following the transaction, the executive vice president now owns 31,085 shares in the company, valued at $2,002,184.85. The disclosure for this purchase can be found here. Insiders purchased 26,356 shares of company stock worth $1,711,872 over the last three months. Company insiders own 0.63% of the company’s stock.
Northern Trust Stock Up 0.6 %
Northern Trust (NASDAQ:NTRS – Get Free Report) last issued its earnings results on Wednesday, October 18th. The asset manager reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.01). Northern Trust had a net margin of 10.44% and a return on equity of 13.06%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the business earned $1.80 EPS. The business’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, analysts forecast that Northern Trust Co. will post 6.07 earnings per share for the current fiscal year.
Northern Trust Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.96%. Northern Trust’s dividend payout ratio (DPR) is presently 56.93%.
Analyst Ratings Changes
Several research firms have issued reports on NTRS. Evercore ISI dropped their price objective on Northern Trust from $75.00 to $73.00 and set an “in-line” rating on the stock in a research note on Thursday, October 19th. Morgan Stanley cut their price target on Northern Trust from $82.00 to $78.00 and set an “equal weight” rating for the company in a report on Thursday, November 2nd. Bank of America initiated coverage on shares of Northern Trust in a report on Tuesday, October 10th. They issued a “buy” rating on the stock. Wells Fargo & Company reiterated an “equal weight” rating and issued a $71.00 price target (down previously from $90.00) on shares of Northern Trust in a research note on Thursday, October 19th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Northern Trust from $69.00 to $67.00 in a research report on Wednesday, October 11th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $78.55.
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, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.
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