Parkside Financial Bank & Trust Decreases Stake in Northern Trust Co. (NTRS)

Parkside Financial Bank & Trust reduced its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 24.0% in the 1st quarter, HoldingsChannel reports. The fund owned 1,137 shares of the asset manager’s stock after selling 360 shares during the period. Parkside Financial Bank & Trust’s holdings in Northern Trust were worth $102,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NTRS. HC Financial Advisors Inc. grew its stake in shares of Northern Trust by 3.5% in the third quarter. HC Financial Advisors Inc. now owns 31,287 shares of the asset manager’s stock worth $3,195,000 after acquiring an additional 1,046 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Northern Trust by 0.3% during the third quarter. JPMorgan Chase & Co. now owns 7,206,618 shares of the asset manager’s stock worth $736,014,000 after purchasing an additional 22,537 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Northern Trust by 24.4% during the third quarter. TIAA CREF Investment Management LLC now owns 538,848 shares of the asset manager’s stock worth $55,033,000 after purchasing an additional 105,604 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Northern Trust by 22.7% during the third quarter. Nordea Investment Management AB now owns 10,367 shares of the asset manager’s stock worth $1,058,000 after purchasing an additional 1,915 shares in the last quarter. Finally, Standard Life Aberdeen plc grew its stake in shares of Northern Trust by 9.6% during the third quarter. Standard Life Aberdeen plc now owns 71,949 shares of the asset manager’s stock worth $7,349,000 after purchasing an additional 6,315 shares in the last quarter. 78.96% of the stock is owned by institutional investors.

In related news, insider Teresa Parker sold 3,000 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $97.50, for a total value of $292,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.15% of the stock is owned by insiders.

NTRS has been the subject of a number of analyst reports. Raymond James downgraded shares of Northern Trust from a “strong-buy” rating to a “market perform” rating and set a $89.93 target price for the company. in a research note on Thursday, January 24th. BidaskClub upgraded shares of Northern Trust from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Wolfe Research downgraded shares of Northern Trust from a “market perform” rating to an “underperform” rating in a research note on Tuesday, January 8th. Zacks Investment Research downgraded shares of Northern Trust from a “hold” rating to a “sell” rating in a research note on Monday, January 14th. Finally, Morgan Stanley lowered their target price on shares of Northern Trust from $109.00 to $96.00 and set an “underweight” rating for the company in a research note on Tuesday, January 8th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $110.45.

Shares of NTRS opened at $98.80 on Tuesday. Northern Trust Co. has a 1-year low of $75.96 and a 1-year high of $115.61. The firm has a market capitalization of $21.65 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.63 and a quick ratio of 0.63.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. Northern Trust had a net margin of 22.44% and a return on equity of 16.03%. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the previous year, the company earned $1.58 earnings per share. Northern Trust’s quarterly revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts predict that Northern Trust Co. will post 6.79 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.60 dividend. The ex-dividend date is Thursday, June 13th. This represents a $2.40 dividend on an annualized basis and a yield of 2.43%. Northern Trust’s dividend payout ratio (DPR) is presently 35.66%.

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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, Corporate & Institutional Services (C&IS) and Wealth Management.

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

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