HPM Partners LLC increased its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 10.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 330,130 shares of the asset manager’s stock after purchasing an additional 31,273 shares during the period. Northern Trust accounts for approximately 2.2% of HPM Partners LLC’s portfolio, making the stock its 6th largest position. HPM Partners LLC’s holdings in Northern Trust were worth $32,977,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. Baker Avenue Asset Management LP grew its stake in shares of Northern Trust by 9.8% during the fourth quarter. Baker Avenue Asset Management LP now owns 10,388 shares of the asset manager’s stock worth $1,038,000 after purchasing an additional 931 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Northern Trust by 20.5% during the fourth quarter. Deutsche Bank AG now owns 761,300 shares of the asset manager’s stock worth $76,040,000 after purchasing an additional 129,514 shares in the last quarter. Brandywine Global Investment Management LLC grew its stake in shares of Northern Trust by 2.8% during the fourth quarter. Brandywine Global Investment Management LLC now owns 185,686 shares of the asset manager’s stock worth $18,549,000 after purchasing an additional 5,104 shares in the last quarter. Advisor Group Inc. grew its stake in shares of Northern Trust by 32.9% during the fourth quarter. Advisor Group Inc. now owns 3,811 shares of the asset manager’s stock worth $380,000 after purchasing an additional 944 shares in the last quarter. Finally, Quantitative Investment Management LLC acquired a new position in shares of Northern Trust during the fourth quarter worth $7,521,000. Hedge funds and other institutional investors own 78.94% of the company’s stock.
NTRS has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $110.00 target price on shares of Northern Trust in a research note on Friday, December 22nd. Zacks Investment Research raised shares of Northern Trust from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research report on Tuesday, December 19th. Royal Bank of Canada boosted their price target on shares of Northern Trust to $110.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Barclays boosted their price target on shares of Northern Trust from $102.00 to $114.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Bank of America boosted their price target on shares of Northern Trust from $112.00 to $116.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $104.81.
Shares of Northern Trust Co. (NASDAQ:NTRS) opened at $110.70 on Friday. Northern Trust Co. has a 1-year low of $83.17 and a 1-year high of $110.79. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.35. The company has a market cap of $25,054.29, a PE ratio of 22.97, a PEG ratio of 1.45 and a beta of 0.95.
Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, January 24th. The asset manager reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. Northern Trust had a net margin of 20.98% and a return on equity of 12.77%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the company earned $1.11 earnings per share. The business’s revenue was up 15.6% compared to the same quarter last year. sell-side analysts anticipate that Northern Trust Co. will post 6.1 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be issued a $0.42 dividend. The ex-dividend date is Thursday, March 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.52%. Northern Trust’s payout ratio is 34.15%.
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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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