Northern Trust Corp. (NTRS) Shares Bought by Cutler Investment Counsel LLC
Cutler Investment Counsel LLC raised its stake in Northern Trust Corp. (NASDAQ:NTRS) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,043 shares of the company’s stock after buying an additional 570 shares during the period. Cutler Investment Counsel LLC’s holdings in Northern Trust Corp. were worth $4,422,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Financial Architects Inc increased its position in Northern Trust Corp. by 5,936.0% in the second quarter. Financial Architects Inc now owns 1,509 shares of the company’s stock worth $100,000 after buying an additional 1,484 shares during the period. Global X Management Co. LLC increased its position in Northern Trust Corp. by 30.8% in the second quarter. Global X Management Co. LLC now owns 1,545 shares of the company’s stock worth $102,000 after buying an additional 364 shares during the period. Woodmont Investment Counsel LLC bought a new position in Northern Trust Corp. during the third quarter worth about $114,000. Creative Planning increased its position in Northern Trust Corp. by 61.9% in the second quarter. Creative Planning now owns 1,755 shares of the company’s stock worth $116,000 after buying an additional 671 shares during the period. Finally, Advisors Asset Management Inc. increased its position in Northern Trust Corp. by 71.7% in the third quarter. Advisors Asset Management Inc. now owns 1,717 shares of the company’s stock worth $117,000 after buying an additional 717 shares during the period. Institutional investors own 79.70% of the company’s stock.
Shares of Northern Trust Corp. (NASDAQ:NTRS) traded up 1.72% during midday trading on Wednesday, reaching $82.15. 1,475,695 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $75.14 and a 200-day moving average of $70.47. The stock has a market cap of $18.60 billion, a price-to-earnings ratio of 19.57 and a beta of 1.02. Northern Trust Corp. has a one year low of $54.38 and a one year high of $83.09.
Northern Trust Corp. (NASDAQ:NTRS) last released its quarterly 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. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.25 billion. Northern Trust Corp. had a net margin of 19.58% and a return on equity of 11.55%. Northern Trust Corp.’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 EPS. On average, equities research analysts anticipate that Northern Trust Corp. will post $4.28 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Friday, December 2nd will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $1.52 dividend on an annualized basis and a yield of 1.85%. Northern Trust Corp.’s dividend payout ratio (DPR) is currently 36.45%.
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A number of equities analysts have issued reports on the company. Zacks Investment Research downgraded Northern Trust Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday. Deutsche Bank AG set a $71.00 price target on Northern Trust Corp. and gave the company a “hold” rating in a research note on Friday, August 5th. lifted their price target on Northern Trust Corp. from $70.00 to $73.00 and gave the company an “underperform” rating in a research note on Friday, September 23rd. Credit Suisse Group AG assumed coverage on Northern Trust Corp. in a research note on Tuesday, November 22nd. They set a “neutral” rating and a $71.00 price target for the company. Finally, Jefferies Group reiterated a “hold” rating and set a $77.00 price target on shares of Northern Trust Corp. in a research note on Monday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $73.42.
In other news, insider Wilson Leech sold 21,541 shares of the business’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $77.01, for a total value of $1,658,872.41. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Steven L. Fradkin sold 323,192 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $80.98, for a total value of $26,172,088.16. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
About Northern Trust Corp.
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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