Cetera Advisor Networks LLC purchased a new stake in Northern Trust Co. (NASDAQ:NTRS) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,765 shares of the asset manager’s stock, valued at approximately $258,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Vantage Consulting Group Inc acquired a new position in Northern Trust in the fourth quarter valued at approximately $47,000. CX Institutional lifted its stake in Northern Trust by 16.5% in the fourth quarter. CX Institutional now owns 757 shares of the asset manager’s stock valued at $71,000 after buying an additional 107 shares during the period. Tompkins Financial Corp bought a new stake in shares of Northern Trust during the fourth quarter valued at approximately $76,000. Phoenix Wealth Advisors bought a new stake in shares of Northern Trust during the fourth quarter valued at approximately $84,000. Finally, Veriti Management LLC bought a new stake in shares of Northern Trust during the fourth quarter valued at approximately $85,000. 78.82% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on NTRS. Credit Suisse Group boosted their price objective on Northern Trust from $94.00 to $102.00 and gave the company an “underperform” rating in a report on Monday, March 29th. Barclays boosted their price objective on Northern Trust from $105.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday. Morgan Stanley boosted their price objective on Northern Trust from $128.00 to $131.00 and gave the company an “equal weight” rating in a report on Monday, March 8th. Keefe, Bruyette & Woods upgraded Northern Trust from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $100.00 to $120.00 in a report on Friday, January 22nd. Finally, Piper Sandler upped their price target on Northern Trust from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, January 11th. Five research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $101.47.
Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, January 20th. The asset manager reported $1.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.49. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Northern Trust had a return on equity of 13.07% and a net margin of 20.72%. During the same quarter in the prior year, the firm posted $1.80 EPS. As a group, analysts forecast that Northern Trust Co. will post 5.99 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Friday, March 12th were paid a $0.70 dividend. The ex-dividend date was Thursday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 2.62%. Northern Trust’s dividend payout ratio is currently 42.23%.
In other Northern Trust news, insider Steven L. Fradkin sold 8,473 shares of the company’s stock in a transaction dated Thursday, January 28th. The stock was sold at an average price of $91.50, for a total value of $775,279.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Robert P. Browne sold 10,000 shares of the company’s stock in a transaction dated Friday, March 12th. The stock was sold at an average price of $102.18, for a total value of $1,021,800.00. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.
Northern Trust 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, Corporate & Institutional Services (C&IS) and Wealth Management.
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