Northern Trust Co. (NTRS) Position Trimmed by Earnest Partners LLC

Earnest Partners LLC decreased its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 9.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,244 shares of the asset manager’s stock after selling 9,525 shares during the quarter. Earnest Partners LLC’s holdings in Northern Trust were worth $8,756,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NTRS. Alyeska Investment Group L.P. bought a new stake in Northern Trust during the third quarter worth about $128,778,000. Arrowstreet Capital Limited Partnership lifted its position in Northern Trust by 7,106.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 526,081 shares of the asset manager’s stock worth $51,140,000 after purchasing an additional 518,781 shares during the period. Vanguard Group Inc. lifted its position in Northern Trust by 2.6% during the second quarter. Vanguard Group Inc. now owns 14,255,623 shares of the asset manager’s stock worth $1,385,789,000 after purchasing an additional 363,691 shares during the period. Wells Fargo & Company MN lifted its position in Northern Trust by 18.4% during the second quarter. Wells Fargo & Company MN now owns 1,925,499 shares of the asset manager’s stock worth $187,177,000 after purchasing an additional 299,230 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Northern Trust by 14.9% during the third quarter. Bank of New York Mellon Corp now owns 1,965,535 shares of the asset manager’s stock worth $180,691,000 after purchasing an additional 255,106 shares during the period. 81.75% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently commented on the stock. Bank of America set a $102.00 target price on shares of Northern Trust and gave the stock a “buy” rating in a report on Thursday, October 19th. Morgan Stanley increased their target price on shares of Northern Trust from $83.00 to $91.00 and gave the stock an “underweight” rating in a report on Thursday, October 19th. Buckingham Research increased their target price on shares of Northern Trust from $95.00 to $97.00 and gave the stock a “neutral” rating in a report on Thursday, October 19th. UBS increased their target price on shares of Northern Trust from $100.00 to $109.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Finally, Zacks Investment Research cut shares of Northern Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Northern Trust has a consensus rating of “Hold” and an average price target of $97.07.

In other Northern Trust news, Vice Chairman William L. Morrison sold 11,058 shares of the stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $94.34, for a total transaction of $1,043,211.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Aileen B. Blake sold 1,000 shares of the stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $94.00, for a total transaction of $94,000.00. The disclosure for this sale can be found here. Insiders sold 433,382 shares of company stock valued at $41,304,013 in the last ninety days. 1.27% of the stock is currently owned by insiders.

Northern Trust Co. (NASDAQ:NTRS) opened at $97.56 on Tuesday. Northern Trust Co. has a 52 week low of $81.92 and a 52 week high of $99.66. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $22,225.87, a P/E ratio of 21.34, a PEG ratio of 2.08 and a beta of 0.96.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, October 18th. The asset manager reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.08. Northern Trust had a return on equity of 12.33% and a net margin of 20.27%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the firm posted $1.11 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. analysts expect that Northern Trust Co. will post 4.68 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 1st will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Thursday, November 30th. Northern Trust’s dividend payout ratio is currently 37.17%.

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About Northern Trust

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 across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.

Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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