Clark Capital Management Group Inc. purchased a new position in shares of Northern Trust Co. (NASDAQ:NTRS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,000 shares of the asset manager’s stock, valued at approximately $300,000.
Other institutional investors have also recently modified their holdings of the company. Field & Main Bank bought a new stake in shares of Northern Trust during the 4th quarter worth approximately $100,000. Truewealth LLC bought a new stake in shares of Northern Trust during the 4th quarter worth approximately $110,000. Cerebellum GP LLC bought a new stake in shares of Northern Trust during the 4th quarter worth approximately $132,000. Mission Wealth Management LP bought a new position in Northern Trust in the 4th quarter valued at approximately $200,000. Finally, Legacy Capital Partners Inc. bought a new position in Northern Trust in the 4th quarter valued at approximately $210,000. 79.49% of the stock is owned by institutional investors.
In other news, Vice Chairman Stephen N. Potter sold 10,000 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $106.14, for a total transaction of $1,061,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey D. Cohodes sold 30,917 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $105.29, for a total transaction of $3,255,250.93. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 189,457 shares of company stock valued at $20,188,250. Corporate insiders own 1.04% of the company’s stock.
Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, January 24th. The asset manager reported $1.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.05. Northern Trust had a net margin of 20.98% and a return on equity of 12.77%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the company posted $1.11 EPS. The company’s revenue was up 15.6% on a year-over-year basis. equities research analysts predict that Northern Trust Co. will post 6.1 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Friday, March 9th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.57%. The ex-dividend date is Thursday, March 8th. Northern Trust’s dividend payout ratio (DPR) is currently 34.15%.
NTRS has been the subject of several research reports. Zacks Investment Research raised shares of Northern Trust from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Tuesday, December 19th. Wells Fargo set a $105.00 price objective on shares of Northern Trust and gave the company a “hold” rating in a research note on Wednesday, December 20th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $110.00 price objective on shares of Northern Trust in a research note on Friday, December 22nd. Barclays increased their price objective on shares of Northern Trust from $102.00 to $114.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Sandler O’Neill reissued a “hold” rating and issued a $105.00 price objective on shares of Northern Trust in a research note on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $104.81.
Northern Trust Company Profile
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.
Want to see what other hedge funds are holding NTRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northern Trust Co. (NASDAQ:NTRS).
Receive News & Ratings for Northern Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Trust and related companies with MarketBeat.com's FREE daily email newsletter.