Maverick Capital Ltd. bought a new stake in shares of Northern Trust Co. (NASDAQ:NTRS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 61,730 shares of the asset manager’s stock, valued at approximately $5,556,000.
Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Northern Trust by 0.5% during the 2nd quarter. BlackRock Inc. now owns 13,947,938 shares of the asset manager’s stock valued at $1,255,316,000 after purchasing an additional 72,688 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Northern Trust by 65.3% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,482,148 shares of the asset manager’s stock valued at $943,393,000 after purchasing an additional 4,139,159 shares in the last quarter. FMR LLC increased its holdings in shares of Northern Trust by 4.8% during the 1st quarter. FMR LLC now owns 8,605,350 shares of the asset manager’s stock valued at $778,009,000 after purchasing an additional 394,338 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Northern Trust by 6.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,221,336 shares of the asset manager’s stock valued at $559,920,000 after purchasing an additional 390,783 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Northern Trust by 27.9% during the 1st quarter. American Century Companies Inc. now owns 5,452,010 shares of the asset manager’s stock valued at $492,916,000 after purchasing an additional 1,190,787 shares in the last quarter. 80.33% of the stock is owned by hedge funds and other institutional investors.
In other Northern Trust news, CFO Biff Bowman sold 46,204 shares of Northern Trust stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $92.81, for a total transaction of $4,288,193.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Robert P. Browne sold 31,595 shares of Northern Trust stock in a transaction on Monday, July 29th. The stock was sold at an average price of $99.47, for a total transaction of $3,142,754.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,411 shares of company stock worth $9,682,259. 1.15% of the stock is currently owned by corporate insiders.
Northern Trust stock traded up $0.52 during trading on Monday, reaching $93.66. The company had a trading volume of 150,036 shares, compared to its average volume of 924,177. The firm’s 50-day simple moving average is $90.46 and its 200 day simple moving average is $91.86. Northern Trust Co. has a 1-year low of $75.96 and a 1-year high of $107.24. The firm has a market capitalization of $20.18 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.67 and a beta of 1.19. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.64 and a current ratio of 0.64.
Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, July 24th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.07. Northern Trust had a net margin of 22.20% and a return on equity of 15.74%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the company posted $1.68 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. Analysts anticipate that Northern Trust Co. will post 6.6 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Thursday, September 12th. This is a boost from Northern Trust’s previous quarterly dividend of $0.60. Northern Trust’s payout ratio is 41.60%.
A number of research firms recently issued reports on NTRS. Wells Fargo & Co set a $110.00 price target on shares of Northern Trust and gave the company a “buy” rating in a research note on Friday, August 16th. Bank of America reissued a “neutral” rating and issued a $97.00 price target (down previously from $107.00) on shares of Northern Trust in a research note on Thursday, June 6th. UBS Group cut shares of Northern Trust from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 25th. Morgan Stanley lifted their price target on shares of Northern Trust from $89.00 to $93.00 and gave the company an “underweight” rating in a research note on Tuesday, September 17th. Finally, Citigroup cut shares of Northern Trust from a “neutral” rating to a “sell” rating and dropped their price target for the company from $94.00 to $85.00 in a research note on Friday, July 12th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. Northern Trust presently has a consensus rating of “Hold” and a consensus target price of $104.28.
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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