RBF Capital LLC increased its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 300.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,000 shares of the asset manager’s stock after purchasing an additional 30,000 shares during the quarter. RBF Capital LLC’s holdings in Northern Trust were worth $3,344,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. LS Investment Advisors LLC raised its holdings in Northern Trust by 2.3% during the fourth quarter. LS Investment Advisors LLC now owns 5,974 shares of the asset manager’s stock worth $499,000 after purchasing an additional 132 shares during the last quarter. Simmons Bank raised its holdings in shares of 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 acquiring an additional 134 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of Northern Trust by 3.6% in the fourth quarter. Advisor Group Inc. now owns 4,021 shares of the asset manager’s stock worth $336,000 after acquiring an additional 139 shares during the last quarter. First Mercantile Trust Co. raised its holdings in shares of 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 acquiring an additional 140 shares during the last quarter. Finally, Diversified Trust Co raised its holdings in shares of 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 acquiring an additional 155 shares during the last quarter. 78.23% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on NTRS shares. Bank of America cut Northern Trust from a “buy” rating to a “neutral” rating and set a $84.89 price target for the company. in a report on Friday, January 11th. Wolfe Research cut Northern Trust from a “market perform” rating to an “underperform” rating in a report on Tuesday, January 8th. Vining Sparks reissued a “buy” rating and issued a $120.00 price target on shares of Northern Trust in a report on Wednesday, January 23rd. Zacks Investment Research cut Northern Trust from a “hold” rating to a “sell” rating in a report on Wednesday, December 19th. Finally, ValuEngine cut Northern Trust from a “hold” rating to a “sell” rating in a report on Monday, February 25th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $111.75.
Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, January 23rd. The asset manager reported $1.82 EPS for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.19. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.49 billion. Northern Trust had a return on equity of 16.62% and a net margin of 23.37%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.51 earnings per share. On average, research analysts anticipate that Northern Trust Co. will post 6.6 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 8th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.50%. This is an increase from Northern Trust’s previous quarterly dividend of $0.55. Northern Trust’s payout ratio is currently 35.66%.
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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