A. D. Beadell Investment Counsel Inc. purchased a new stake in shares of Northern Trust Co. (NASDAQ:NTRS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,050 shares of the asset manager’s stock, valued at approximately $254,000.
Several other hedge funds have also recently bought and sold shares of NTRS. LS Investment Advisors LLC increased its position in Northern Trust by 2.3% in the fourth quarter. LS Investment Advisors LLC now owns 5,974 shares of the asset manager’s stock worth $499,000 after buying an additional 132 shares during the period. Simmons Bank increased its position in Northern Trust by 1.1% in the fourth quarter. Simmons Bank now owns 12,616 shares of the asset manager’s stock worth $1,055,000 after buying an additional 134 shares during the period. First Mercantile Trust Co. increased its position in Northern Trust by 63.6% in the fourth quarter. First Mercantile Trust Co. now owns 360 shares of the asset manager’s stock worth $30,000 after buying an additional 140 shares during the period. Diversified Trust Co increased its position in Northern Trust by 4.0% in the fourth quarter. Diversified Trust Co now owns 4,064 shares of the asset manager’s stock worth $340,000 after buying an additional 155 shares during the period. Finally, Creative Planning increased its position in Northern Trust by 1.8% in the fourth quarter. Creative Planning now owns 10,501 shares of the asset manager’s stock worth $878,000 after buying an additional 182 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have weighed in on NTRS. Wells Fargo & Co raised Northern Trust from a “market perform” rating to an “outperform” rating and set a $126.00 target price on the stock in a research report on Wednesday, November 7th. Raymond James lowered Northern Trust from a “strong-buy” rating to a “market perform” rating and set a $89.93 target price on the stock. in a research report on Thursday, January 24th. BidaskClub cut Northern Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Deutsche Bank decreased their price target on Northern Trust from $108.00 to $107.00 and set a “buy” rating for the company in a research note on Friday, November 16th. Finally, Sandler O’Neill raised Northern Trust from a “hold” rating to a “buy” rating and set a $114.00 price target for the company in a research note on Thursday, October 18th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $111.87.
Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, January 23rd. The asset manager reported $1.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.19. Northern Trust had a return on equity of 16.62% and a net margin of 23.37%. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the business posted $1.51 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, sell-side analysts predict that Northern Trust Co. will post 6.62 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 8th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $2.40 annualized dividend and a yield of 2.68%. This is a boost from Northern Trust’s previous quarterly dividend of $0.55. Northern Trust’s dividend payout ratio (DPR) is currently 32.69%.
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Northern Trust 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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