Russell Investments Group Ltd. Lowers Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Russell Investments Group Ltd. reduced its position in Northern Trust Co. (NASDAQ:NTRSGet Rating) by 17.0% in the third quarter, Holdings Channel.com reports. The fund owned 444,614 shares of the asset manager’s stock after selling 90,811 shares during the period. Russell Investments Group Ltd.’s holdings in Northern Trust were worth $38,173,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Ieq Capital LLC raised its holdings in Northern Trust by 79.5% in the 3rd quarter. Ieq Capital LLC now owns 3,783 shares of the asset manager’s stock worth $324,000 after acquiring an additional 1,675 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Northern Trust by 46.0% in the 3rd quarter. CIBC Asset Management Inc now owns 37,378 shares of the asset manager’s stock worth $3,198,000 after acquiring an additional 11,780 shares during the last quarter. Creative Planning raised its holdings in Northern Trust by 1.6% in the 3rd quarter. Creative Planning now owns 42,286 shares of the asset manager’s stock worth $3,618,000 after acquiring an additional 686 shares during the last quarter. Duality Advisers LP raised its holdings in Northern Trust by 26.3% in the 3rd quarter. Duality Advisers LP now owns 59,709 shares of the asset manager’s stock worth $5,109,000 after acquiring an additional 12,429 shares during the last quarter. Finally, Speece Thorson Capital Group Inc. raised its holdings in Northern Trust by 3.2% in the 3rd quarter. Speece Thorson Capital Group Inc. now owns 121,011 shares of the asset manager’s stock worth $10,354,000 after acquiring an additional 3,729 shares during the last quarter. 81.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com initiated coverage on shares of Northern Trust in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Wells Fargo & Company cut their target price on shares of Northern Trust from $121.00 to $115.00 in a research report on Tuesday, December 13th. Royal Bank of Canada cut their target price on shares of Northern Trust from $110.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday, October 20th. Evercore ISI cut their target price on shares of Northern Trust to $85.00 in a research report on Thursday, October 20th. Finally, Citigroup cut their target price on shares of Northern Trust from $92.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, October 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $100.68.

Northern Trust Trading Up 0.2 %

Shares of NTRS stock opened at $94.77 on Wednesday. Northern Trust Co. has a 1 year low of $76.15 and a 1 year high of $127.89. The firm has a fifty day moving average price of $91.47 and a 200-day moving average price of $92.21. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.69 and a quick ratio of 0.67. The company has a market cap of $19.75 billion, a price-to-earnings ratio of 15.43 and a beta of 1.06.

Northern Trust (NASDAQ:NTRSGet Rating) last issued its quarterly earnings data on Thursday, January 19th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.10). Northern Trust had a net margin of 17.24% and a return on equity of 14.89%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the previous year, the firm earned $1.91 EPS. The company’s revenue was down 8.5% on a year-over-year basis. As a group, equities analysts predict that Northern Trust Co. will post 6.8 earnings per share for the current year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Investors of record on Friday, March 10th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Thursday, March 9th. Northern Trust’s dividend payout ratio is currently 48.86%.

Northern Trust Profile

(Get Rating)

Northern Trust Corp. is a financial holding company, which engages in the provision of asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals. It operates through the following segments: Corporate & Institutional Services and Wealth Management.

See Also

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

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