Nuance Investments LLC Trims Holdings in Northern Trust Co. (NTRS)
Nuance Investments LLC cut its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 659,723 shares of the asset manager’s stock after selling 15,210 shares during the quarter. Northern Trust accounts for 4.4% of Nuance Investments LLC’s portfolio, making the stock its 6th largest position. Nuance Investments LLC’s holdings in Northern Trust were worth $65,900,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of the business. Toronto Dominion Bank lifted its position in shares of Northern Trust by 11.0% in the third quarter. Toronto Dominion Bank now owns 81,627 shares of the asset manager’s stock worth $7,502,000 after purchasing an additional 8,120 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Northern Trust by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 973,397 shares of the asset manager’s stock worth $89,484,000 after purchasing an additional 12,322 shares in the last quarter. Aurora Investment Counsel purchased a new stake in shares of Northern Trust in the fourth quarter worth approximately $2,161,000. Shell Asset Management Co. lifted its position in shares of Northern Trust by 187.4% in the third quarter. Shell Asset Management Co. now owns 34,698 shares of the asset manager’s stock worth $2,361,000 after purchasing an additional 22,624 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Northern Trust by 127.7% in the fourth quarter. SG Americas Securities LLC now owns 50,447 shares of the asset manager’s stock worth $5,039,000 after purchasing an additional 28,291 shares in the last quarter. 80.69% of the stock is owned by institutional investors.
In other Northern Trust news, Vice Chairman William L. Morrison sold 30,000 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $96.48, for a total transaction of $2,894,400.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Clair Joyce St sold 18,489 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $97.51, for a total value of $1,802,862.39. The disclosure for this sale can be found here. In the last quarter, insiders have sold 198,655 shares of company stock worth $19,906,776. Corporate insiders own 1.27% of the company’s stock.
Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, January 24th. The asset manager reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. Northern Trust had a return on equity of 12.77% and a net margin of 20.98%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the company posted $1.11 earnings per share. The firm’s revenue was up 15.6% on a year-over-year basis. analysts expect that Northern Trust Co. will post 6.02 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Friday, March 9th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.68 annualized dividend and a yield of 1.69%. Northern Trust’s dividend payout ratio (DPR) is presently 34.15%.
A number of research firms have recently issued reports on NTRS. Sandler O’Neill reissued a “hold” rating and issued a $105.00 price target on shares of Northern Trust in a research report on Wednesday, January 10th. Zacks Investment Research raised shares of Northern Trust from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research report on Tuesday, December 19th. Vining Sparks restated a “buy” rating and issued a $118.00 price objective on shares of Northern Trust in a report on Wednesday, January 24th. Morgan Stanley increased their price objective on Northern Trust from $91.00 to $104.00 and gave the stock an “underweight” rating in a report on Thursday, January 25th. Finally, Bank of America increased their price objective on Northern Trust from $112.00 to $116.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $104.81.
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About Northern Trust
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 across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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