Bronfman E.L. Rothschild L.P. cut its position in shares of Northern Trust Corp. (NASDAQ:NTRS) by 9.4% during the third quarter, Holdings Channel reports. The institutional investor owned 6,559 shares of the company’s stock after selling 678 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in Northern Trust Corp. were worth $446,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the stock. Bank of Montreal Can acquired a new stake in shares of Northern Trust Corp. during the second quarter worth $36,022,000. Nuance Investments LLC increased its stake in shares of Northern Trust Corp. by 5.6% in the second quarter. Nuance Investments LLC now owns 641,461 shares of the company’s stock worth $42,503,000 after buying an additional 34,261 shares in the last quarter. Confluence Investment Management LLC increased its stake in shares of Northern Trust Corp. by 9.6% in the second quarter. Confluence Investment Management LLC now owns 894,711 shares of the company’s stock worth $59,284,000 after buying an additional 78,216 shares in the last quarter. HL Financial Services LLC increased its stake in shares of Northern Trust Corp. by 3.1% in the second quarter. HL Financial Services LLC now owns 638,250 shares of the company’s stock worth $42,290,000 after buying an additional 18,903 shares in the last quarter. Finally, Brown Advisory Inc. increased its stake in shares of Northern Trust Corp. by 11.0% in the second quarter. Brown Advisory Inc. now owns 120,682 shares of the company’s stock worth $7,997,000 after buying an additional 12,004 shares in the last quarter. 81.31% of the stock is currently owned by hedge funds and other institutional investors.
Northern Trust Corp. (NASDAQ:NTRS) opened at 82.15 on Friday. The stock has a 50 day moving average price of $74.53 and a 200 day moving average price of $70.29. The company has a market capitalization of $18.60 billion, a price-to-earnings ratio of 19.57 and a beta of 1.02. Northern Trust Corp. has a 52-week low of $54.38 and a 52-week high of $83.09.
Northern Trust Corp. (NASDAQ:NTRS) last released its earnings results on Wednesday, October 19th. The company reported $1.08 EPS for the quarter, missing the Zacks’ consensus estimate of $1.09 by $0.01. The firm earned $1.22 billion during the quarter, compared to the consensus estimate of $1.25 billion. Northern Trust Corp. had a net margin of 19.58% and a return on equity of 11.55%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.96 EPS. Equities research analysts forecast that Northern Trust Corp. will post $4.28 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Friday, December 2nd will be given a dividend of $0.38 per share. The ex-dividend date is Wednesday, November 30th. This represents a $1.52 annualized dividend and a yield of 1.85%. Northern Trust Corp.’s payout ratio is 36.45%.
A number of equities research analysts have weighed in on NTRS shares. Zacks Investment Research raised Northern Trust Corp. from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Wednesday, October 5th. Jefferies Group reissued a “hold” rating and set a $77.00 price objective on shares of Northern Trust Corp. in a report on Monday, October 10th. Credit Suisse Group AG started coverage on Northern Trust Corp. in a report on Tuesday. They set a “neutral” rating and a $71.00 price objective on the stock. raised their price objective on Northern Trust Corp. from $70.00 to $73.00 and gave the company an “underperform” rating in a report on Friday, September 23rd. Finally, Deutsche Bank AG raised their price objective on Northern Trust Corp. from $75.00 to $76.00 and gave the company a “hold” rating in a report on Friday, September 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $73.65.
In other news, Vice Chairman William L. Morrison sold 98,239 shares of the stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $72.57, for a total transaction of $7,129,204.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Clair Joyce St sold 50,010 shares of the stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $70.04, for a total transaction of $3,502,700.40. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
About Northern Trust Corp.
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals around the world. The Company’s segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.