Hillsdale Investment Management Inc. Makes New $638,000 Investment in Northern Trust Co. (NASDAQ:NTRS)

Hillsdale Investment Management Inc. acquired a new stake in shares of Northern Trust Co. (NASDAQ:NTRS) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 7,170 shares of the asset manager’s stock, valued at approximately $638,000.

Other large investors have also recently made changes to their positions in the company. Spartan Planning & Wealth Management lifted its position in shares of Northern Trust by 10,566.7% during the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after buying an additional 317 shares in the last quarter. Fortitude Family Office LLC purchased a new position in Northern Trust in the 4th quarter worth approximately $28,000. Allworth Financial LP lifted its holdings in Northern Trust by 94.1% in the 4th quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock worth $30,000 after purchasing an additional 174 shares in the last quarter. Quent Capital LLC lifted its holdings in Northern Trust by 77.8% in the 4th quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after purchasing an additional 158 shares in the last quarter. Finally, Friedenthal Financial purchased a new position in Northern Trust in the 4th quarter worth approximately $45,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Northern Trust

In related news, insider Peter Cherecwich sold 12,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the completion of the transaction, the insider now owns 31,471 shares in the company, valued at approximately $2,740,809.39. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Steven L. Fradkin sold 4,097 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total transaction of $338,248.32. Following the completion of the transaction, the insider now owns 46,078 shares in the company, valued at approximately $3,804,199.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Peter Cherecwich sold 12,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $87.09, for a total value of $1,045,080.00. Following the completion of the sale, the insider now owns 31,471 shares of the company’s stock, valued at $2,740,809.39. The disclosure for this sale can be found here. 0.64% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. The Goldman Sachs Group lowered their price target on Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Jefferies Financial Group boosted their price target on Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Bank of America boosted their price target on Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Keefe, Bruyette & Woods lowered their price target on Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a report on Thursday, June 27th. Finally, Royal Bank of Canada lifted their price objective on Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Northern Trust has a consensus rating of “Hold” and a consensus price target of $86.75.

Northern Trust Trading Up 0.0 %

Shares of NASDAQ NTRS traded up $0.04 during trading hours on Tuesday, hitting $87.18. 291,221 shares of the company traded hands, compared to its average volume of 1,386,480. The stock has a market capitalization of $17.84 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 1.28 and a beta of 1.10. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average price is $84.09 and its 200 day moving average price is $83.36. Northern Trust Co. has a 12 month low of $62.44 and a 12 month high of $92.46.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.03. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The company’s revenue for the quarter was up 53.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.79 EPS. On average, equities research analysts anticipate that Northern Trust Co. will post 6.97 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Friday, September 6th. Northern Trust’s dividend payout ratio is currently 66.23%.

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, 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.