Huntington National Bank Trims Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Huntington National Bank lowered its stake in Northern Trust Co. (NASDAQ:NTRSFree Report) by 27.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,097 shares of the asset manager’s stock after selling 406 shares during the quarter. Huntington National Bank’s holdings in Northern Trust were worth $76,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of NTRS. BI Asset Management Fondsmaeglerselskab A S grew its stake in Northern Trust by 13.5% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,969 shares of the asset manager’s stock valued at $443,000 after purchasing an additional 709 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Northern Trust by 11.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 10,308 shares of the asset manager’s stock valued at $764,000 after purchasing an additional 1,099 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Northern Trust by 7.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 16,618 shares of the asset manager’s stock valued at $1,232,000 after purchasing an additional 1,127 shares in the last quarter. Yousif Capital Management LLC grew its stake in Northern Trust by 3.1% during the 2nd quarter. Yousif Capital Management LLC now owns 31,362 shares of the asset manager’s stock valued at $2,325,000 after purchasing an additional 936 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Northern Trust during the 2nd quarter valued at approximately $1,066,000. Institutional investors and hedge funds own 81.64% of the company’s stock.

Northern Trust Trading Up 1.5 %

Shares of NASDAQ NTRS opened at $79.64 on Monday. The company has a market cap of $16.49 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 4.94 and a beta of 1.13. Northern Trust Co. has a 12-month low of $62.44 and a 12-month high of $99.14. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 0.62. The stock’s 50 day simple moving average is $82.29 and its 200 day simple moving average is $76.19.

Northern Trust (NASDAQ:NTRSGet Free Report) last announced its quarterly 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). The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.71 billion. Northern Trust had a return on equity of 12.44% and a net margin of 9.14%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the business posted $1.65 EPS. Equities research analysts expect that Northern Trust Co. will post 6.27 EPS for the current year.

Northern Trust Dividend Announcement

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

Analyst Ratings Changes

NTRS has been the subject of a number of recent analyst reports. Wolfe Research lowered Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 price objective for the company. in a research note on Wednesday, January 3rd. Royal Bank of Canada lifted their target price on Northern Trust from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Morgan Stanley reiterated an “underweight” rating and issued a $86.00 target price (up previously from $82.00) on shares of Northern Trust in a research report on Tuesday, January 30th. UBS Group lifted their target price on Northern Trust from $72.00 to $84.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. Finally, TheStreet upgraded Northern Trust from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $83.04.

Read Our Latest Stock Analysis on NTRS

About Northern Trust

(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.

See Also

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

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