Monarch Capital Management Inc. lowered its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 1.9% during the first quarter, Holdings Channel reports. The institutional investor owned 22,359 shares of the asset manager’s stock after selling 440 shares during the period. Monarch Capital Management Inc.’s holdings in Northern Trust were worth $1,936,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. Gateway Investment Advisers LLC increased its stake in shares of Northern Trust by 0.4% in the third quarter. Gateway Investment Advisers LLC now owns 15,332 shares of the asset manager’s stock valued at $1,042,000 after buying an additional 67 shares during the period. First Merchants Corp increased its stake in shares of Northern Trust by 7.7% in the third quarter. First Merchants Corp now owns 45,197 shares of the asset manager’s stock valued at $3,073,000 after buying an additional 3,215 shares during the period. Conning Inc. increased its stake in shares of Northern Trust by 0.6% in the third quarter. Conning Inc. now owns 6,353 shares of the asset manager’s stock valued at $432,000 after buying an additional 40 shares during the period. HL Financial Services LLC increased its stake in shares of Northern Trust by 3.6% in the third quarter. HL Financial Services LLC now owns 661,294 shares of the asset manager’s stock valued at $44,961,000 after buying an additional 23,044 shares during the period. Finally, Commonwealth Equity Services Inc increased its stake in shares of Northern Trust by 0.8% in the third quarter. Commonwealth Equity Services Inc now owns 12,626 shares of the asset manager’s stock valued at $858,000 after buying an additional 106 shares during the period. Hedge funds and other institutional investors own 79.48% of the company’s stock.
Northern Trust Co. (NASDAQ:NTRS) traded down 0.10% during trading on Friday, reaching $87.36. The company had a trading volume of 1,053,733 shares. Northern Trust Co. has a one year low of $61.32 and a one year high of $91.14. The firm’s 50 day moving average is $87.21 and its 200 day moving average is $83.46. The company has a market capitalization of $19.99 billion, a PE ratio of 20.22 and a beta of 1.05.
Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, January 18th. The asset manager reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by $0.02. The firm earned $1.25 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Northern Trust had a net margin of 19.76% and a return on equity of 11.68%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 EPS. On average, equities research analysts predict that Northern Trust Co. will post $4.71 earnings per share for the current year.
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Several equities research analysts recently issued reports on NTRS shares. Zacks Investment Research downgraded Northern Trust from a “buy” rating to a “hold” rating in a report on Wednesday, January 25th. Jefferies Group LLC raised Northern Trust from a “hold” rating to a “buy” rating and upped their price target for the company from $90.00 to $102.00 in a research report on Tuesday, April 11th. Barclays PLC upped their price target on Northern Trust from $80.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 3rd. Deutsche Bank AG dropped their price target on Northern Trust from $94.00 to $93.00 and set a “hold” rating on the stock in a research report on Thursday, April 6th. Finally, Raymond James Financial, Inc. reaffirmed a “strong-buy” rating and set a $105.00 price target (up previously from $83.00) on shares of Northern Trust in a research report on Thursday, December 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $84.75.
In other Northern Trust news, COO Jana R. Schreuder sold 63,912 shares of the company’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $90.04, for a total transaction of $5,754,636.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman William L. Morrison sold 51,762 shares of the company’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $87.53, for a total value of $4,530,727.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 267,185 shares of company stock valued at $23,454,043. 1.90% of the stock is owned by company insiders.
About Northern Trust
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 across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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