Ellevest Inc. decreased its position in shares of Northern Trust Co. (NASDAQ:NTRS – Get Rating) by 9.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,000 shares of the asset manager's stock after selling 206 shares during the period. Ellevest Inc.'s holdings in Northern Trust were worth $193,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Foster Dykema Cabot & Co. Inc. MA acquired a new position in Northern Trust during the 2nd quarter worth about $116,000. IFM Investors Pty Ltd raised its position in Northern Trust by 14.5% in the 2nd quarter. IFM Investors Pty Ltd now owns 35,213 shares of the asset manager's stock valued at $3,397,000 after purchasing an additional 4,458 shares in the last quarter. Gofen & Glossberg LLC IL raised its position in Northern Trust by 0.7% in the 2nd quarter. Gofen & Glossberg LLC IL now owns 145,829 shares of the asset manager's stock valued at $14,070,000 after purchasing an additional 977 shares in the last quarter. Raymond James Trust N.A. raised its position in Northern Trust by 1.9% in the 2nd quarter. Raymond James Trust N.A. now owns 13,084 shares of the asset manager's stock valued at $1,262,000 after purchasing an additional 243 shares in the last quarter. Finally, Ballast Inc. raised its position in Northern Trust by 7.5% in the 2nd quarter. Ballast Inc. now owns 8,034 shares of the asset manager's stock valued at $775,000 after purchasing an additional 561 shares in the last quarter. Institutional investors and hedge funds own 83.59% of the company's stock.
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Northern Trust Trading Up 2.2 %
NASDAQ:NTRS opened at $87.43 on Thursday. The stock's 50 day moving average price is $96.78 and its 200 day moving average price is $102.83. The company has a market capitalization of $18.22 billion, a PE ratio of 11.91 and a beta of 1.12. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust Co. has a 52-week low of $84.07 and a 52-week high of $135.15.
Northern Trust (NASDAQ:NTRS – Get Rating) last released its quarterly earnings results on Wednesday, July 20th. The asset manager reported $1.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.90 by ($0.04). The firm had revenue of $1.77 billion for the quarter, compared to analysts' expectations of $1.77 billion. Northern Trust had a return on equity of 14.82% and a net
margin of 23.13%. The company's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.72 EPS. On average, research analysts anticipate that Northern Trust Co. will post 7.45 EPS for the current year.
Northern Trust Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 9th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.43%. This is a boost from Northern Trust's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, September 8th. Northern Trust's dividend payout ratio (DPR) is presently 40.87%.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the company. Credit Suisse Group reduced their price target on Northern Trust from $106.00 to $99.00 and set an "underperform" rating on the stock in a research report on Thursday, July 21st. Barclays reduced their price target on Northern Trust from $140.00 to $120.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 21st. JPMorgan Chase & Co. reduced their price target on Northern Trust from $115.00 to $107.50 in a research report on Monday, July 11th. Morgan Stanley increased their price target on Northern Trust from $110.00 to $115.00 and gave the company an "equal weight" rating in a research report on Thursday, July 21st. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Northern Trust from $123.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $119.29.
About Northern Trust
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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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