Posted by Defense World Staff on Aug 2nd, 2024
Quadrature Capital Ltd purchased a new position in Northern Trust Co. (NASDAQ:NTRS – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,367 shares of the asset manager’s stock, valued at approximately $299,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bayesian Capital Management LP raised its holdings in shares of Northern Trust by 986.3% in the fourth 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 last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Northern Trust by 6.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 360,640 shares of the asset manager’s stock worth $32,111,000 after acquiring an additional 23,020 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Northern Trust by 557.8% in the first quarter. Sequoia Financial Advisors LLC now owns 30,813 shares of the asset manager’s stock worth $2,740,000 after acquiring an additional 26,129 shares during the period. Bessemer Group Inc. increased its stake in shares of Northern Trust by 668.0% in the first quarter. Bessemer Group Inc. now owns 20,205 shares of the asset manager’s stock worth $1,797,000 after acquiring an additional 17,574 shares during the period. Finally, AIA Group Ltd increased its stake in shares of Northern Trust by 4.3% in the first quarter. AIA Group Ltd now owns 602,785 shares of the asset manager’s stock worth $53,600,000 after acquiring an additional 24,791 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.
Northern Trust Stock Performance
NASDAQ:NTRS opened at $88.65 on Thursday. The company’s 50-day moving average price is $84.49 and its 200-day moving average price is $83.56. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market cap of $18.14 billion, a P/E ratio of 19.57, a P/E/G ratio of 1.32 and a beta of 1.10. Northern Trust Co. has a twelve month low of $62.44 and a twelve month high of $92.46.
Northern Trust (NASDAQ:NTRS – Get Free Report) last posted its quarterly earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.03. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $1.84 billion. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The company’s revenue for the quarter was up 53.8% on a year-over-year basis. During the same period last year, the firm posted $1.79 earnings per share. On average, sell-side analysts forecast that Northern Trust Co. will post 7.02 earnings per share for the current fiscal year.
Northern Trust Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Friday, September 6th. Northern Trust’s dividend payout ratio is currently 66.23%.
Insiders Place Their Bets
In other Northern Trust news, insider Peter Cherecwich sold 12,000 shares of Northern Trust stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the transaction, the insider now directly owns 31,471 shares of the company’s stock, valued at $2,740,809.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.64% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
NTRS has been the topic of a number of research reports. Bank of America increased their price objective on shares of Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. The Goldman Sachs Group cut their price objective on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Keefe, Bruyette & Woods dropped their price target on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a research report on Thursday, June 27th. Morgan Stanley dropped their price target 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. Finally, Royal Bank of Canada raised their price target 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Northern Trust has a consensus rating of “Hold” and an average target price of $87.33.
Check Out Our Latest Research Report on NTRS
Northern Trust Company 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, 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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