Mackay Shields LLC decreased its position in Northern Trust Co. (NASDAQ:NTRS) by 0.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,642 shares of the asset manager’s stock after selling 264 shares during the quarter. Mackay Shields LLC’s holdings in Northern Trust were worth $2,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. FIL Ltd increased its stake in Northern Trust by 2.9% in the 4th quarter. FIL Ltd now owns 962,194 shares of the asset manager’s stock worth $102,223,000 after acquiring an additional 26,878 shares during the last quarter. Country Club Trust Company n.a. bought a new stake in Northern Trust in the 4th quarter worth approximately $402,000. Cibc Bank USA increased its stake in Northern Trust by 6.0% in the 4th quarter. Cibc Bank USA now owns 9,255 shares of the asset manager’s stock worth $983,000 after acquiring an additional 525 shares during the last quarter. Fifth Third Bancorp increased its stake in Northern Trust by 28.7% in the 1st quarter. Fifth Third Bancorp now owns 17,775 shares of the asset manager’s stock worth $1,341,000 after acquiring an additional 3,968 shares during the last quarter. Finally, Blair William & Co. IL increased its stake in Northern Trust by 0.3% in the 4th quarter. Blair William & Co. IL now owns 740,801 shares of the asset manager’s stock worth $78,703,000 after acquiring an additional 2,238 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. dropped their target price on Northern Trust from $89.50 to $84.50 and set a “neutral” rating for the company in a report on Wednesday, May 6th. UBS Group cut Northern Trust from a “neutral” rating to a “sell” rating and set a $65.00 target price for the company. in a report on Monday, April 6th. Bank of America dropped their target price on Northern Trust from $76.00 to $67.00 and set a “neutral” rating for the company in a report on Monday, March 23rd. Morgan Stanley lifted their target price on Northern Trust from $69.00 to $73.00 and gave the stock an “underweight” rating in a report on Wednesday, April 22nd. Finally, Goldman Sachs Group cut Northern Trust from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $96.00 to $70.00 in a report on Tuesday, March 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Northern Trust presently has a consensus rating of “Hold” and an average price target of $84.14.
Northern Trust (NASDAQ:NTRS) last issued its earnings results on Tuesday, April 21st. The asset manager reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. Northern Trust had a return on equity of 15.18% and a net margin of 21.88%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the business earned $1.48 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts anticipate that Northern Trust Co. will post 5.34 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.79%. Northern Trust’s payout ratio is 42.23%.
In other news, EVP Robert P. Browne sold 4,500 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $72.31, for a total value of $325,395.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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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