Northern Trust Corp. (NTRS) Stake Lowered by Fisher Asset Management LLC
Fisher Asset Management LLC cut its stake in Northern Trust Corp. (NASDAQ:NTRS) by 13.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 89,690 shares of the company’s stock after selling 13,558 shares during the period. Fisher Asset Management LLC’s holdings in Northern Trust Corp. were worth $6,098,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Liberty Capital Management Inc. bought a new position in Northern Trust Corp. during the third quarter valued at $353,000. Copper Rock Capital Partners LLC boosted its position in Northern Trust Corp. by 14.8% in the third quarter. Copper Rock Capital Partners LLC now owns 4,518 shares of the company’s stock valued at $301,000 after buying an additional 581 shares during the period. Chevy Chase Trust Holdings Inc. boosted its position in Northern Trust Corp. by 14.6% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 228,177 shares of the company’s stock valued at $15,514,000 after buying an additional 29,123 shares during the period. West Oak Capital LLC boosted its position in Northern Trust Corp. by 0.9% in the third quarter. West Oak Capital LLC now owns 17,475 shares of the company’s stock valued at $1,188,000 after buying an additional 160 shares during the period. Finally, Macquarie Group Ltd. boosted its position in Northern Trust Corp. by 134.5% in the second quarter. Macquarie Group Ltd. now owns 6,800 shares of the company’s stock valued at $451,000 after buying an additional 3,900 shares during the period. Hedge funds and other institutional investors own 79.70% of the company’s stock.
Northern Trust Corp. (NASDAQ:NTRS) traded down 1.90% during trading on Monday, hitting $80.59. 1,325,710 shares of the stock were exchanged. The firm’s 50-day moving average is $74.90 and its 200 day moving average is $70.39. The firm has a market cap of $18.25 billion, a PE ratio of 19.20 and a beta of 1.02. Northern Trust Corp. has a 52 week low of $54.38 and a 52 week high of $83.09.
Northern Trust Corp. (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, October 19th. The company reported $1.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by $0.01. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Northern Trust Corp. had a net margin of 19.58% and a return on equity of 11.55%. During the same period in the previous year, the company earned $0.96 EPS. The company’s quarterly revenue was up 5.1% on a year-over-year basis. Analysts expect that Northern Trust Corp. will post $4.28 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Friday, December 2nd will be paid a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $1.52 annualized dividend and a dividend yield of 1.89%. Northern Trust Corp.’s payout ratio is 36.45%.
Several analysts have commented on NTRS shares. Credit Suisse Group AG started coverage on shares of Northern Trust Corp. in a research report on Tuesday, November 22nd. They set a “neutral” rating and a $71.00 target price for the company. Zacks Investment Research cut shares of Northern Trust Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, November 17th. Jefferies Group reiterated a “hold” rating and set a $77.00 target price on shares of Northern Trust Corp. in a research report on Monday, October 10th. upped their target price on shares of Northern Trust Corp. from $70.00 to $73.00 and gave the company an “underperform” rating in a research report on Friday, September 23rd. Finally, Deutsche Bank AG upped their target price on shares of Northern Trust Corp. from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Friday, September 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the company’s stock. Northern Trust Corp. presently has a consensus rating of “Hold” and an average target price of $73.65.
In related news, CFO Biff Bowman sold 2,960 shares of the stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $70.00, for a total value of $207,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey D. Cohodes sold 10,000 shares of the stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $71.35, for a total transaction of $713,500.00. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.
Northern Trust Corp. 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 around the world. The Company’s segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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