Bessemer Group Inc. grew its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 1,688.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 24,933 shares of the asset manager’s stock after purchasing an additional 23,539 shares during the quarter. Bessemer Group Inc.’s holdings in Northern Trust were worth $2,244,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Resources Investment Advisors Inc. grew its holdings in shares of Northern Trust by 194.2% in the 1st quarter. Resources Investment Advisors Inc. now owns 306 shares of the asset manager’s stock worth $28,000 after acquiring an additional 202 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Northern Trust by 93.5% in the 1st quarter. Parallel Advisors LLC now owns 389 shares of the asset manager’s stock worth $35,000 after acquiring an additional 188 shares during the last quarter. Brand Asset Management Group Inc. acquired a new position in shares of Northern Trust in the 1st quarter worth $38,000. Osborn Williams & Donohoe LLC acquired a new position in shares of Northern Trust in the 1st quarter worth $49,000. Finally, Shine Investment Advisory Services Inc. grew its holdings in shares of Northern Trust by 24.5% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 574 shares of the asset manager’s stock worth $52,000 after acquiring an additional 113 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.
In related news, EVP Robert P. Browne sold 12,156 shares of Northern Trust stock in a transaction on Friday, June 14th. The stock was sold at an average price of $86.88, for a total transaction of $1,056,113.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.15% of the stock is currently owned by company insiders.
NTRS traded up $0.69 during trading on Friday, reaching $99.72. 38,848 shares of the stock traded hands, compared to its average volume of 1,436,703. The stock has a market cap of $21.65 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 1.92 and a beta of 1.13. Northern Trust Co. has a fifty-two week low of $75.96 and a fifty-two week high of $115.61. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.63 and a current ratio of 0.64. The firm’s 50-day moving average price is $89.97.
Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.07. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Northern Trust had a return on equity of 15.74% and a net margin of 22.20%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the firm earned $1.68 earnings per share. On average, equities research analysts expect that Northern Trust Co. will post 6.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.70 per share. This is a boost from Northern Trust’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, September 12th. This represents a $2.80 dividend on an annualized basis and a yield of 2.81%. Northern Trust’s dividend payout ratio (DPR) is presently 35.66%.
A number of equities analysts recently issued reports on NTRS shares. Deutsche Bank restated a “buy” rating and issued a GBX 4,000 ($52.27) target price on shares of in a report on Tuesday, June 18th. Wells Fargo & Co reaffirmed a “hold” rating and issued a $11.00 target price on shares of Coty in a research report on Wednesday, May 8th. BidaskClub cut Ames National from a “hold” rating to a “sell” rating in a research report on Wednesday, July 17th. Citigroup raised Infosys from a “neutral” rating to a “buy” rating in a research report on Friday, July 12th. Finally, ValuEngine raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $105.92.
Northern Trust Profile
Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Corporate & Institutional Services (C&IS) and Wealth Management.
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