Neuberger Berman Group LLC Sells 984 Shares of Northern Trust Co. (NTRS)

Neuberger Berman Group LLC lowered its holdings in Northern Trust Co. (NASDAQ:NTRS) by 6.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,541 shares of the asset manager’s stock after selling 984 shares during the period. Neuberger Berman Group LLC’s holdings in Northern Trust were worth $1,245,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of NTRS. Salem Investment Counselors Inc. grew its holdings in Northern Trust by 8.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 1,083 shares of the asset manager’s stock worth $105,000 after acquiring an additional 83 shares during the last quarter. MPS Loria Financial Planners LLC bought a new stake in Northern Trust during the 2nd quarter worth approximately $134,000. Sun Life Financial INC grew its holdings in Northern Trust by 15,740.0% during the 2nd quarter. Sun Life Financial INC now owns 1,584 shares of the asset manager’s stock worth $154,000 after acquiring an additional 1,574 shares during the last quarter. Cetera Investment Advisers bought a new stake in Northern Trust during the 2nd quarter worth approximately $205,000. Finally, Prudential PLC bought a new stake in Northern Trust during the 2nd quarter worth approximately $207,000. 81.69% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Co. (NASDAQ:NTRS) opened at $99.89 on Monday. The stock has a market cap of $22,717.08, a price-to-earnings ratio of 22.10, a P/E/G ratio of 2.13 and a beta of 0.96. Northern Trust Co. has a 12 month low of $81.92 and a 12 month high of $101.46. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, October 18th. The asset manager reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.08. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Northern Trust had a net margin of 20.27% and a return on equity of 12.33%. Northern Trust’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.11 earnings per share. analysts predict that Northern Trust Co. will post 4.69 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 1st will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Thursday, November 30th. Northern Trust’s dividend payout ratio is presently 37.17%.

In other Northern Trust news, CEO Frederick H. Waddell sold 44,658 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $97.95, for a total transaction of $4,374,251.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman William L. Morrison sold 11,058 shares of the company’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $94.34, for a total transaction of $1,043,211.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 324,382 shares of company stock worth $31,276,013. Corporate insiders own 1.27% of the company’s stock.

A number of equities research analysts have weighed in on NTRS shares. UBS Group raised shares of Northern Trust from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $92.00 to $100.00 in a report on Friday, September 8th. Zacks Investment Research raised shares of Northern Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Citigroup reaffirmed a “neutral” rating and issued a $92.00 price objective (up from $90.00) on shares of Northern Trust in a research note on Monday, October 9th. Buckingham Research upped their price objective on shares of Northern Trust from $95.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, October 19th. Finally, Morgan Stanley upped their price objective on shares of Northern Trust from $83.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $98.50.

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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.

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

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