UBS Asset Management Americas Inc. raised its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,215,944 shares of the asset manager’s stock after purchasing an additional 72,242 shares during the quarter. UBS Asset Management Americas Inc. owned 0.58% of Northern Trust worth $113,253,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in NTRS. NN Investment Partners Holdings N.V. grew its position in Northern Trust by 1,073.2% during the fourth quarter. NN Investment Partners Holdings N.V. now owns 1,975,814 shares of the asset manager’s stock valued at $184,029,000 after buying an additional 1,807,398 shares during the period. Amundi Pioneer Asset Management Inc. grew its holdings in Northern Trust by 11.8% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,586,206 shares of the asset manager’s stock valued at $147,717,000 after buying an additional 167,859 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Northern Trust by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,259,052 shares of the asset manager’s stock valued at $117,250,000 after acquiring an additional 28,534 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Northern Trust by 292.8% in the fourth quarter. Principal Financial Group Inc. now owns 1,236,711 shares of the asset manager’s stock worth $115,187,000 after buying an additional 921,861 shares in the last quarter. Finally, Truist Financial Corp grew its holdings in shares of Northern Trust by 2.7% in the fourth quarter. Truist Financial Corp now owns 936,455 shares of the asset manager’s stock valued at $87,221,000 after purchasing an additional 24,656 shares in the last quarter. 78.82% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Steven L. Fradkin sold 8,473 shares of the stock in a transaction that occurred on Thursday, January 28th. The shares were sold at an average price of $91.50, for a total transaction of $775,279.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert P. Browne sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 12th. The shares were sold at an average price of $102.18, for a total transaction of $1,021,800.00. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.
Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, January 20th. The asset manager reported $1.49 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.49. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.50 billion. Northern Trust had a net margin of 20.72% and a return on equity of 13.07%. During the same period last year, the firm earned $1.80 earnings per share. On average, equities analysts expect that Northern Trust Co. will post 5.99 earnings per share for the current year.
The business 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 of this dividend was Thursday, March 11th. This represents a $2.80 annualized dividend and a yield of 2.62%. Northern Trust’s dividend payout ratio (DPR) is presently 42.23%.
Several research firms have commented on NTRS. Keefe, Bruyette & Woods raised shares of Northern Trust from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $100.00 to $120.00 in a research note on Friday, January 22nd. Bank of America downgraded shares of Northern Trust from a “neutral” rating to an “underperform” rating and raised their price objective for the stock from $95.00 to $97.00 in a research note on Tuesday, January 12th. Piper Sandler upped their target price on Northern Trust from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, January 11th. The Goldman Sachs Group lowered Northern Trust from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $90.00 to $85.00 in a research note on Tuesday, January 5th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Northern Trust from $112.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, January 22nd. Five investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $101.47.
About Northern Trust
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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