Daiwa Securities Group Inc. Sells 8,170 Shares of Northern Trust Corp. (NTRS)
Daiwa Securities Group Inc. reduced its position in shares of Northern Trust Corp. (NASDAQ:NTRS) by 14.6% during the third quarter, Holdings Channel reports. The firm owned 47,607 shares of the company’s stock after selling 8,170 shares during the period. Daiwa Securities Group Inc.’s holdings in Northern Trust Corp. were worth $3,237,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Northern Trust Corp. by 1.5% in the second quarter. Vanguard Group Inc. now owns 12,804,278 shares of the company’s stock worth $848,412,000 after buying an additional 187,195 shares during the period. FMR LLC raised its stake in shares of Northern Trust Corp. by 13.8% in the second quarter. FMR LLC now owns 8,583,519 shares of the company’s stock worth $568,744,000 after buying an additional 1,041,052 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Northern Trust Corp. by 11.0% in the second quarter. JPMorgan Chase & Co. now owns 7,738,990 shares of the company’s stock worth $512,786,000 after buying an additional 768,081 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Northern Trust Corp. by 6.4% in the second quarter. American Century Companies Inc. now owns 7,702,813 shares of the company’s stock worth $510,388,000 after buying an additional 462,106 shares during the last quarter. Finally, Burgundy Asset Management Ltd. raised its stake in shares of Northern Trust Corp. by 5.9% in the second quarter. Burgundy Asset Management Ltd. now owns 2,431,383 shares of the company’s stock worth $161,103,000 after buying an additional 135,166 shares during the last quarter. Institutional investors and hedge funds own 79.70% of the company’s stock.
Shares of Northern Trust Corp. (NASDAQ:NTRS) traded up 0.68% on Tuesday, reaching $81.14. The company’s stock had a trading volume of 1,181,194 shares. The company’s 50 day moving average is $75.14 and its 200-day moving average is $70.47. The firm has a market cap of $18.37 billion, a price-to-earnings ratio of 19.33 and a beta of 1.02. Northern Trust Corp. has a 1-year low of $54.38 and a 1-year high of $83.09.
Northern Trust Corp. (NASDAQ:NTRS) last posted its earnings results on Wednesday, October 19th. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by $0.01. Northern Trust Corp. had a net margin of 19.58% and a return on equity of 11.55%. The business earned $1.22 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the firm posted $0.96 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis. Equities research analysts expect that Northern Trust Corp. will post $4.28 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Friday, December 2nd will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $1.52 annualized dividend and a dividend yield of 1.87%. Northern Trust Corp.’s dividend payout ratio is currently 36.45%.
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A number of brokerages have commented on NTRS. Zacks Investment Research upgraded Northern Trust Corp. from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Wednesday, October 5th. Credit Suisse Group AG began coverage on Northern Trust Corp. in a research report on Tuesday, November 22nd. They set a “neutral” rating and a $71.00 price objective for the company. Deutsche Bank AG raised their price objective on Northern Trust Corp. from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Friday, September 9th. Jefferies Group restated a “hold” rating and set a $77.00 price objective on shares of Northern Trust Corp. in a research report on Monday, October 10th. Finally, raised their price target on Northern Trust Corp. from $70.00 to $73.00 and gave the stock an “underperform” rating in a research note on Friday, September 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $73.42.
In other news, insider Clair Joyce St sold 1,820 shares of the company’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $73.00, for a total transaction of $132,860.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman William L. Morrison sold 98,239 shares of the company’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $72.57, for a total value of $7,129,204.23. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
Northern Trust Corp. Company Profile
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 around the world. The Company’s segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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