O Shaughnessy Asset Management LLC Grows Holdings in Northern Trust Co. (NASDAQ:NTRS) (2024)

O Shaughnessy Asset Management LLC grew its stake in Northern Trust Co. (NASDAQ:NTRS – Free Report) by 30.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,146 shares of the asset manager’s stock after acquiring an additional 743 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Northern Trust were worth $280,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bayesian Capital Management LP increased its stake in Northern Trust by 986.3% during the 4th quarter. Bayesian Capital Management LP now owns 37,900 shares of the asset manager’s stock worth $3,198,000 after buying an additional 34,411 shares during the period. Sequoia Financial Advisors LLC increased its stake in Northern Trust by 557.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 30,813 shares of the asset manager’s stock worth $2,740,000 after buying an additional 26,129 shares during the period. AIA Group Ltd increased its stake in Northern Trust by 4.3% during the 1st quarter. AIA Group Ltd now owns 602,785 shares of the asset manager’s stock worth $53,600,000 after buying an additional 24,791 shares during the period. Intech Investment Management LLC increased its stake in Northern Trust by 1,891.1% during the 1st quarter. Intech Investment Management LLC now owns 56,845 shares of the asset manager’s stock worth $5,055,000 after buying an additional 53,990 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Northern Trust by 17,074.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 74,021 shares of the asset manager’s stock worth $6,246,000 after buying an additional 73,590 shares during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Peter Cherecwich sold 12,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total value of $1,045,080.00. Following the completion of the sale, the insider now owns 31,471 shares in the company, valued at approximately $2,740,809.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.64% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NTRS. Keefe, Bruyette & Woods cut their target price on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a research note on Thursday, June 27th. Royal Bank of Canada increased their price objective on shares of Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Morgan Stanley dropped their price objective on shares of Northern Trust from $97.00 to $93.00 and set an “underweight” rating on the stock in a research report on Tuesday. Bank of America increased their price objective on shares of Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, Evercore ISI increased their price objective on shares of Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $87.33.

Read Our Latest Analysis on Northern Trust

Northern Trust Stock Down 0.3 %

Shares of NASDAQ:NTRS opened at $88.65 on Thursday. The stock has a market cap of $18.14 billion, a P/E ratio of 19.57, a P/E/G ratio of 1.31 and a beta of 1.10. The firm has a fifty day moving average price of $84.49 and a 200 day moving average price of $83.56. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust Co. has a 1-year low of $62.44 and a 1-year high of $92.46.

Northern Trust (NASDAQ:NTRS – Get Free Report) last issued its quarterly earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.03. The firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. Northern Trust’s quarterly revenue was up 53.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.79 EPS. Sell-side analysts predict that Northern Trust Co. will post 7.02 EPS for the current year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Friday, September 6th. Northern Trust’s dividend payout ratio is currently 66.23%.

About Northern Trust

(Free Report)

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, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.

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