Lateef Investment Management L.P. Decreases Stake in Northern Trust Co. (NTRS)

Lateef Investment Management L.P. lowered its position in Northern Trust Co. (NASDAQ:NTRS) by 5.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 285,282 shares of the asset manager’s stock after selling 16,656 shares during the period. Northern Trust accounts for about 2.4% of Lateef Investment Management L.P.’s investment portfolio, making the stock its 21st largest holding. Lateef Investment Management L.P. owned about 0.13% of Northern Trust worth $26,226,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its stake in shares of Northern Trust by 7,106.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 526,081 shares of the asset manager’s stock worth $51,140,000 after buying an additional 518,781 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Northern Trust by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 14,255,623 shares of the asset manager’s stock worth $1,385,789,000 after buying an additional 363,691 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Northern Trust by 18.4% in the 2nd quarter. Wells Fargo & Company MN now owns 1,925,499 shares of the asset manager’s stock worth $187,177,000 after buying an additional 299,230 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Northern Trust by 14.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,965,535 shares of the asset manager’s stock worth $180,691,000 after buying an additional 255,106 shares during the last quarter. Finally, Cortland Advisers LLC grew its stake in shares of Northern Trust by 355.3% in the 2nd quarter. Cortland Advisers LLC now owns 302,078 shares of the asset manager’s stock worth $29,365,000 after buying an additional 235,727 shares during the last quarter. 81.75% of the stock is owned by hedge funds and other institutional investors.

In related news, Vice Chairman William L. Morrison sold 11,058 shares of the firm’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $94.34, for a total value of $1,043,211.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jana R. Schreuder sold 18,489 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $99.20, for a total value of $1,834,108.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 449,963 shares of company stock worth $42,798,613. Company insiders own 1.27% of the company’s stock.

Several analysts recently weighed in on the company. Citigroup restated a “neutral” rating and issued a $92.00 price target (up previously from $90.00) on shares of Northern Trust in a research note on Monday, October 9th. Royal Bank Of Canada restated a “buy” rating and issued a $97.00 price target on shares of Northern Trust in a research note on Friday, August 18th. Zacks Investment Research upgraded Northern Trust from a “sell” rating to a “hold” rating in a research note on Monday, September 25th. UBS upgraded Northern Trust from a “neutral” rating to a “buy” rating and upped their price target for the stock from $92.00 to $100.00 in a research note on Friday, September 8th. Finally, Bank of America set a $102.00 price target on Northern Trust and gave the stock a “buy” rating in a research note on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $97.07.

Northern Trust Co. (NTRS) opened at $96.50 on Thursday. The stock has a market capitalization of $22,048.47, a price-to-earnings ratio of 21.17, a PEG ratio of 2.14 and a beta of 0.96. Northern Trust Co. has a 52 week low of $81.92 and a 52 week high of $99.66. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.37.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, October 18th. The asset manager reported $1.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.08. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Northern Trust had a return on equity of 12.33% and a net margin of 20.27%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period last year, the business posted $1.11 EPS. research analysts predict that Northern Trust Co. will post 4.68 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 1st will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.74%. Northern Trust’s dividend payout ratio (DPR) is currently 37.17%.

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Northern Trust 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 across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.

Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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