Voya Investment Management LLC lessened its stake in Northern Trust Co. (NASDAQ:NTRS) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,559 shares of the asset manager’s stock after selling 4,144 shares during the quarter. Voya Investment Management LLC’s holdings in Northern Trust were worth $10,655,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of NTRS. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Northern Trust by 119.9% in the first quarter. Robeco Institutional Asset Management B.V. now owns 14,793 shares of the asset manager’s stock valued at $1,526,000 after purchasing an additional 8,066 shares in the last quarter. Korea Investment CORP lifted its holdings in shares of Northern Trust by 14.4% in the first quarter. Korea Investment CORP now owns 77,683 shares of the asset manager’s stock valued at $8,011,000 after purchasing an additional 9,786 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in shares of Northern Trust in the first quarter valued at approximately $284,000. KBC Group NV lifted its holdings in shares of Northern Trust by 10.9% in the first quarter. KBC Group NV now owns 72,559 shares of the asset manager’s stock valued at $7,483,000 after purchasing an additional 7,144 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Northern Trust by 0.6% in the first quarter. BlackRock Inc. now owns 13,646,227 shares of the asset manager’s stock valued at $1,407,333,000 after purchasing an additional 78,044 shares in the last quarter. Institutional investors own 77.99% of the company’s stock.
A number of analysts recently commented on NTRS shares. Zacks Investment Research lowered Northern Trust from a “buy” rating to a “hold” rating in a report on Tuesday, June 19th. BidaskClub lowered Northern Trust from a “hold” rating to a “sell” rating in a report on Tuesday, July 3rd. Keefe, Bruyette & Woods set a $118.00 price target on Northern Trust and gave the stock a “hold” rating in a report on Wednesday, July 18th. Morgan Stanley lifted their price target on Northern Trust from $110.00 to $117.00 and gave the stock a “$108.44” rating in a report on Thursday, July 19th. Finally, Citigroup lifted their price target on Northern Trust from $108.00 to $118.00 and gave the stock a “neutral” rating in a report on Friday, July 20th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Northern Trust presently has a consensus rating of “Hold” and a consensus target price of $115.88.
Shares of NTRS traded down $0.11 during mid-day trading on Friday, hitting $99.05. The stock had a trading volume of 1,688,552 shares, compared to its average volume of 1,144,030. The firm has a market cap of $22.80 billion, a PE ratio of 20.51, a PEG ratio of 1.19 and a beta of 0.94. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.66 and a quick ratio of 0.66. Northern Trust Co. has a 52 week low of $91.06 and a 52 week high of $115.61.
Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 18th. The asset manager reported $1.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.05. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.50 billion. Northern Trust had a return on equity of 15.02% and a net margin of 22.88%. The business’s revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. Sell-side analysts anticipate that Northern Trust Co. will post 6.69 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, September 14th were paid a $0.55 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.42. This represents a $2.20 annualized dividend and a dividend yield of 2.22%. Northern Trust’s payout ratio is presently 45.55%.
Northern Trust declared that its Board of Directors has authorized a stock buyback plan on Tuesday, July 17th that authorizes the company to repurchase 25,000,000 shares. This repurchase authorization authorizes the asset manager to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
Northern Trust Company Profile
Northern Trust Corporation, a financial holding company, provides asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates through Corporate & Institutional Services (C&IS) and Wealth Management segments.
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