Sawtooth Solutions LLC Invests $530,000 in Northern Trust Co. (NTRS)

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Sawtooth Solutions LLC acquired a new stake in Northern Trust Co. (NASDAQ:NTRS) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,186 shares of the asset manager’s stock, valued at approximately $530,000.

Several other institutional investors have also recently made changes to their positions in NTRS. Vulcan Value Partners LLC lifted its holdings in shares of Northern Trust by 56.6% in the second quarter. Vulcan Value Partners LLC now owns 2,522,199 shares of the asset manager’s stock valued at $259,509,000 after buying an additional 911,176 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Northern Trust by 10.7% in the second quarter. Wells Fargo & Company MN now owns 2,388,480 shares of the asset manager’s stock valued at $245,751,000 after buying an additional 230,226 shares during the period. Morgan Stanley lifted its holdings in shares of Northern Trust by 29.0% in the second quarter. Morgan Stanley now owns 911,274 shares of the asset manager’s stock valued at $93,762,000 after buying an additional 205,050 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Northern Trust in the second quarter valued at $20,728,000. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Northern Trust by 40.8% in the second quarter. Glenmede Trust Co. NA now owns 555,391 shares of the asset manager’s stock valued at $57,144,000 after buying an additional 160,906 shares during the period. Institutional investors and hedge funds own 78.02% of the company’s stock.

Several analysts have recently weighed in on the company. Zacks Investment Research upgraded Northern Trust from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a report on Friday, July 20th. BidaskClub lowered Northern Trust from a “hold” rating to a “sell” rating in a report on Tuesday, July 3rd. Citigroup boosted their target price on Northern Trust from $108.00 to $118.00 and gave the stock a “neutral” rating in a research report on Friday, July 20th. Vining Sparks reaffirmed a “buy” rating and set a $130.00 target price on shares of Northern Trust in a research report on Monday, July 23rd. Finally, Deutsche Bank cut their target price on Northern Trust from $116.00 to $115.00 and set a “hold” rating on the stock in a research report on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $117.00.

In related news, COO Jana R. Schreuder sold 9,699 shares of the company’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $110.00, for a total transaction of $1,066,890.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Biff Bowman sold 21,352 shares of the company’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $111.11, for a total value of $2,372,420.72. The disclosure for this sale can be found here. Insiders have sold 50,812 shares of company stock worth $5,639,698 over the last three months. 1.04% of the stock is owned by insiders.

Shares of Northern Trust stock opened at $89.93 on Tuesday. The firm has a market cap of $19.76 billion, a PE ratio of 18.62, a P/E/G ratio of 1.13 and a beta of 0.94. The company has a current ratio of 0.65, a quick ratio of 0.66 and a debt-to-equity ratio of 0.36. Northern Trust Co. has a 12-month low of $87.98 and a 12-month high of $115.61.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, October 17th. The asset manager reported $1.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.03). The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.52 billion. Northern Trust had a return on equity of 15.75% and a net margin of 23.28%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $1.20 earnings per share. Equities research analysts predict that Northern Trust Co. will post 6.61 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Thursday, December 13th. Northern Trust’s payout ratio is 45.55%.

Northern Trust declared that its board has authorized a stock repurchase plan on Tuesday, July 17th that allows the company to buyback 25,000,000 outstanding shares. This buyback authorization allows the asset manager to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Northern Trust Company Profile

Northern Trust Corporation, a financial holding company, provides asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates through Corporate & Institutional Services (C&IS) and Wealth Management segments.

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

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