Northern Trust Co. (NASDAQ:NTRS) Holdings Cut by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC decreased its stake in Northern Trust Co. (NASDAQ:NTRS) by 6.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,026 shares of the asset manager’s stock after selling 1,334 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Northern Trust were worth $1,704,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Northern Trust by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 22,711,584 shares of the asset manager’s stock worth $2,644,763,000 after buying an additional 457,748 shares in the last quarter. FMR LLC lifted its position in Northern Trust by 1.2% in the 3rd quarter. FMR LLC now owns 10,791,735 shares of the asset manager’s stock worth $749,810,000 after buying an additional 126,172 shares in the last quarter. Primecap Management Co. CA lifted its position in Northern Trust by 4.2% in the 3rd quarter. Primecap Management Co. CA now owns 6,497,047 shares of the asset manager’s stock worth $451,415,000 after buying an additional 264,805 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Northern Trust by 1.5% during the 3rd quarter. Northern Trust Corp now owns 5,955,048 shares of the asset manager’s stock valued at $413,757,000 after purchasing an additional 89,696 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Northern Trust by 1.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,980,072 shares of the asset manager’s stock valued at $346,015,000 after purchasing an additional 64,707 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $81.45 on Friday. Northern Trust Co. has a 1 year low of $62.44 and a 1 year high of $89.25. The firm’s fifty day simple moving average is $83.26 and its 200 day simple moving average is $78.93. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $16.62 billion, a PE ratio of 17.98, a PEG ratio of 1.17 and a beta of 1.13.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Thursday, January 18th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.81). Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the business posted $1.65 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Northern Trust Co. will post 6.82 EPS for the current year.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.00 annualized dividend and a yield of 3.68%. Northern Trust’s dividend payout ratio is 66.23%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NTRS. Wolfe Research downgraded shares of Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 price target on the stock. in a report on Wednesday, January 3rd. UBS Group raised their price target on shares of Northern Trust from $72.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, January 9th. Jefferies Financial Group raised their price target on shares of Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley restated an “underweight” rating and set a $86.00 price target (up previously from $82.00) on shares of Northern Trust in a report on Tuesday, January 30th. Finally, TheStreet upgraded shares of Northern Trust from a “c+” rating to a “b-” rating in a report on Friday, January 12th. Two investment 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $84.92.

Insiders Place Their Bets

In other Northern Trust news, insider Steven L. Fradkin sold 30,392 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total value of $2,434,703.12. Following the sale, the insider now directly owns 55,707 shares in the company, valued at approximately $4,462,687.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.64% of the company’s stock.

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, 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.