Callahan Advisors LLC Has $2,783,000 Stake in Northern Trust Corp. (NTRS)
Callahan Advisors LLC raised its position in shares of Northern Trust Corp. (NASDAQ:NTRS) by 19.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,930 shares of the company’s stock after buying an additional 6,526 shares during the period. Callahan Advisors LLC’s holdings in Northern Trust Corp. were worth $2,783,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank of Montreal Can purchased a new stake in Northern Trust Corp. during the second quarter valued at $36,022,000. Nuance Investments LLC boosted its stake in Northern Trust Corp. by 5.6% in the second quarter. Nuance Investments LLC now owns 641,461 shares of the company’s stock valued at $42,503,000 after buying an additional 34,261 shares during the last quarter. British Columbia Investment Management Corp boosted its stake in Northern Trust Corp. by 5.1% in the third quarter. British Columbia Investment Management Corp now owns 165,787 shares of the company’s stock valued at $11,272,000 after buying an additional 7,993 shares during the last quarter. Confluence Investment Management LLC boosted its stake in Northern Trust Corp. by 9.6% in the second quarter. Confluence Investment Management LLC now owns 894,711 shares of the company’s stock valued at $59,284,000 after buying an additional 78,216 shares during the last quarter. Finally, HL Financial Services LLC boosted its stake in Northern Trust Corp. by 3.1% in the second quarter. HL Financial Services LLC now owns 638,250 shares of the company’s stock valued at $42,290,000 after buying an additional 18,903 shares during the last quarter. Institutional investors own 79.70% of the company’s stock.
Shares of Northern Trust Corp. (NASDAQ:NTRS) traded up 0.68% during midday trading on Tuesday, reaching $81.14. 1,181,194 shares of the company’s stock were exchanged. The firm has a market cap of $18.37 billion, a PE ratio of 19.33 and a beta of 1.02. The stock’s 50-day moving average is $75.14 and its 200 day moving average is $70.47. Northern Trust Corp. has a one year low of $54.38 and a one year high of $83.09.
Northern Trust Corp. (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, October 19th. The company reported $1.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by $0.01. The business 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%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 earnings per share. Analysts anticipate that Northern Trust Corp. will post $4.28 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Friday, December 2nd will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.87%. The ex-dividend date is Wednesday, November 30th. Northern Trust Corp.’s payout ratio is 36.45%.
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NTRS has been the topic of several research reports. Deutsche Bank AG set a $71.00 price objective on Northern Trust Corp. and gave the company a “hold” rating in a research report on Friday, August 5th. boosted their price target on Northern Trust Corp. from $70.00 to $73.00 and gave the stock an “underperform” rating in a research report on Friday, September 23rd. Zacks Investment Research raised Northern Trust Corp. from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Wednesday, October 5th. Jefferies Group reissued a “hold” rating and issued a $77.00 price target on shares of Northern Trust Corp. in a research report on Monday, October 10th. Finally, Credit Suisse Group AG assumed coverage on Northern Trust Corp. in a research report on Tuesday, November 22nd. They issued a “neutral” rating and a $71.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $73.42.
In related news, CEO Frederick H. Waddell sold 38,939 shares of Northern Trust Corp. stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $74.13, for a total transaction of $2,886,548.07. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey D. Cohodes sold 10,000 shares of Northern Trust Corp. stock in a transaction that occurred on Thursday, September 1st. The shares were 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. Corporate insiders own 1.90% of the company’s stock.
About Northern Trust Corp.
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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