Northern Trust Co. (NASDAQ:NTRS) Shares Bought by Aviance Capital Partners LLC

Aviance Capital Partners LLC raised its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 8.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,301 shares of the asset manager’s stock after acquiring an additional 716 shares during the quarter. Aviance Capital Partners LLC’s holdings in Northern Trust were worth $827,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Dark Forest Capital Management LP purchased a new position in Northern Trust in the third quarter valued at approximately $217,000. Stifel Financial Corp lifted its position in Northern Trust by 5.8% in the third quarter. Stifel Financial Corp now owns 95,791 shares of the asset manager’s stock valued at $6,656,000 after acquiring an additional 5,218 shares during the last quarter. Natixis Advisors L.P. lifted its position in Northern Trust by 43.8% in the third quarter. Natixis Advisors L.P. now owns 62,728 shares of the asset manager’s stock valued at $4,358,000 after acquiring an additional 19,093 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in Northern Trust by 8.1% in the third quarter. Treasurer of the State of North Carolina now owns 102,785 shares of the asset manager’s stock valued at $7,142,000 after acquiring an additional 7,711 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in shares of Northern Trust by 194.3% during the third quarter. Qube Research & Technologies Ltd now owns 306,194 shares of the asset manager’s stock worth $21,274,000 after purchasing an additional 202,167 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Down 0.2 %

NTRS opened at $83.83 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust Co. has a 12 month low of $62.44 and a 12 month high of $89.25. The stock has a market capitalization of $17.15 billion, a P/E ratio of 18.51, a P/E/G ratio of 1.19 and a beta of 1.10. The business has a 50 day simple moving average of $83.62 and a 200-day simple moving average of $83.18.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Tuesday, April 16th. The asset manager reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.23. Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.79 billion. On average, equities analysts anticipate that Northern Trust Co. will post 6.88 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were given a dividend of $0.75 per share. The ex-dividend date was Friday, June 7th. This represents a $3.00 annualized dividend and a yield of 3.58%. Northern Trust’s payout ratio is currently 66.23%.

Analysts Set New Price Targets

NTRS has been the subject of a number of research analyst reports. Bank of America upped their target price on Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods cut their target price on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a report on Thursday, June 27th. Jefferies Financial Group increased their price target on shares of Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Finally, Evercore ISI upped their target price on shares of Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Northern Trust presently has a consensus rating of “Hold” and a consensus price target of $85.75.

Insider Buying and Selling at Northern Trust

In related news, insider Steven L. Fradkin sold 4,097 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total value of $338,248.32. Following the sale, the insider now owns 46,078 shares in the company, valued at approximately $3,804,199.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Northern Trust news, insider Peter Cherecwich sold 12,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total value of $1,045,080.00. Following the sale, the insider now owns 31,471 shares of the company’s stock, valued at $2,740,809.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven L. Fradkin sold 4,097 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total transaction of $338,248.32. Following the transaction, the insider now directly owns 46,078 shares of the company’s stock, valued at $3,804,199.68. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by corporate insiders.

About Northern Trust

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.