Northern Trust Co. (NTRS) Position Lowered by Laffer Investments

Laffer Investments lowered its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 6.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,930 shares of the asset manager’s stock after selling 1,325 shares during the quarter. Laffer Investments’ holdings in Northern Trust were worth $1,740,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Salem Investment Counselors Inc. lifted its holdings in shares of Northern Trust by 8.3% during the second quarter. Salem Investment Counselors Inc. now owns 1,083 shares of the asset manager’s stock worth $105,000 after buying an additional 83 shares in the last quarter. Dupont Capital Management Corp acquired a new position in Northern Trust in the second quarter valued at about $107,000. Bessemer Group Inc. raised its stake in Northern Trust by 16.9% in the second quarter. Bessemer Group Inc. now owns 1,461 shares of the asset manager’s stock valued at $143,000 after purchasing an additional 211 shares in the last quarter. MPS Loria Financial Planners LLC acquired a new position in Northern Trust in the second quarter valued at about $134,000. Finally, Sun Life Financial INC raised its stake in Northern Trust by 15,740.0% in the second quarter. Sun Life Financial INC now owns 1,584 shares of the asset manager’s stock valued at $154,000 after purchasing an additional 1,574 shares in the last quarter. 81.69% of the stock is owned by institutional investors.

Northern Trust Co. (NTRS) traded down $0.43 during trading on Friday, reaching $99.89. The company’s stock had a trading volume of 637,509 shares, compared to its average volume of 858,150. The company has a market capitalization of $22,814.88, a PE ratio of 22.10, a PEG ratio of 2.14 and a beta of 0.96. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust Co. has a 1 year low of $81.92 and a 1 year high of $101.46.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, October 18th. The asset manager reported $1.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.08. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Northern Trust had a return on equity of 12.33% and a net margin of 20.27%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.11 earnings per share. research analysts forecast that Northern Trust Co. will post 4.69 earnings per share for the current year.

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

NTRS has been the subject of a number of analyst reports. UBS Group raised Northern Trust from a “neutral” rating to a “buy” rating and boosted their price target for the company from $92.00 to $100.00 in a research note on Friday, September 8th. Bank of America set a $102.00 price target on Northern Trust and gave the company a “buy” rating in a research note on Thursday, October 19th. Citigroup reaffirmed a “neutral” rating and issued a $92.00 price target (up previously from $90.00) on shares of Northern Trust in a research note on Monday, October 9th. Zacks Investment Research upgraded Northern Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, September 13th. Finally, Morgan Stanley lifted their target price on Northern Trust from $83.00 to $91.00 and gave the company an “underweight” rating in a research report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $98.50.

In other news, Vice Chairman William L. Morrison sold 11,058 shares of the business’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $94.34, for a total transaction of $1,043,211.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Aileen B. Blake sold 1,000 shares of the business’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $94.00, for a total value of $94,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 324,382 shares of company stock worth $31,276,013. Company insiders own 1.27% of the company’s stock.

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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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