Oppenheimer & Co. Inc. Purchases 6,554 Shares of Northern Trust Co. (NASDAQ:NTRS)

Oppenheimer & Co. Inc. grew its stake in Northern Trust Co. (NASDAQ:NTRSFree Report) by 229.0% during the third quarter, HoldingsChannel.com reports. The firm owned 9,416 shares of the asset manager’s stock after buying an additional 6,554 shares during the period. Oppenheimer & Co. Inc.’s holdings in Northern Trust were worth $654,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Vontobel Holding Ltd. increased its position in shares of Northern Trust by 2.4% in the 1st quarter. Vontobel Holding Ltd. now owns 5,921 shares of the asset manager’s stock valued at $715,000 after buying an additional 140 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of Northern Trust by 26.4% in the 1st quarter. Allianz Asset Management GmbH now owns 12,985 shares of the asset manager’s stock valued at $1,512,000 after buying an additional 2,716 shares in the last quarter. Prudential PLC bought a new stake in shares of Northern Trust in the 1st quarter valued at $548,000. Vanguard Group Inc. increased its position in shares of Northern Trust by 2.1% in 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 buying an additional 457,748 shares in the last quarter. Finally, Zions Bancorporation N.A. increased its position in shares of Northern Trust by 271.7% in the 1st quarter. Zions Bancorporation N.A. now owns 918 shares of the asset manager’s stock valued at $107,000 after buying an additional 671 shares in the last quarter. Institutional investors and hedge funds own 81.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NTRS. Wolfe Research cut shares of Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 price objective for the company. in a research report on Wednesday, January 3rd. StockNews.com upgraded Northern Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 4th. Barclays increased their target price on Northern Trust from $90.00 to $98.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. TheStreet upgraded Northern Trust from a “c+” rating to a “b-” rating in a report on Friday, January 12th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $71.00 target price (down previously from $90.00) on shares of Northern Trust in a report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and an average target price of $83.04.

Check Out Our Latest Analysis on NTRS

Northern Trust Trading Up 1.5 %

Northern Trust stock opened at $79.64 on Friday. The firm has a 50-day moving average of $82.29 and a 200-day moving average of $76.23. Northern Trust Co. has a one year low of $62.44 and a one year high of $99.14. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.71 and a quick ratio of 0.68. The company has a market cap of $16.49 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 4.95 and a beta of 1.13.

Northern Trust (NASDAQ:NTRSGet Free Report) last issued its earnings results on Thursday, January 18th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.81). Northern Trust had a net margin of 9.14% and a return on equity of 12.44%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the business posted $1.65 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts expect that Northern Trust Co. will post 6.21 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 8th will be paid a $0.75 dividend. The ex-dividend date is Thursday, March 7th. This represents a $3.00 annualized dividend and a yield of 3.77%. Northern Trust’s dividend payout ratio (DPR) is currently 59.06%.

Northern Trust Company Profile

(Free Report)

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

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