iA Global Asset Management Inc. acquires a new position in Northern Trust Co. (NASDAQ:NTRS)

iA Global Asset Management Inc. acquired a new stake in Northern Trust Co. (NASDAQ:NTRS – Free Report) during the second quarter, HoldingsChannel.com reports. The fund acquired 4,850 shares of the asset manager’s stock, valued at approximately $407,000.

A number of other hedge funds have also recently added to or reduced their stakes in NTRS. Wellington Management Group LLP lifted its position in Northern Trust by 140.2% in the fourth quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager’s stock valued at $489,640,000 after acquiring an additional 3,387,002 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Northern Trust by 31.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,533,855 shares of the asset manager’s stock worth $551,327,000 after purchasing an additional 1,553,783 shares in the last quarter. Confluence Investment Management LLC acquired a new position in shares of Northern Trust in the first quarter worth about $105,665,000. Norges Bank purchased a new position in shares of Northern Trust during the fourth quarter valued at approximately $90,532,000. Finally, Primecap Management Co. CA raised its position in shares of Northern Trust by 6.1% during the 4th quarter. Primecap Management Co. CA now owns 6,891,902 shares of the asset manager’s stock worth $581,539,000 after purchasing an additional 394,855 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s shares.

Insider work at Northern Trust

In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the sale, the executive vice president now owns 83,765 shares of the company’s stock, valued at $7,041,285.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In other Northern Trust news, EVP Mark C. Gossett sold 6,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the transaction, the executive vice president now owns 28,707 shares in the company, valued at approximately $2,552,052.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this link. Also, EVP Teresa Parker sold 5,883 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the sale, the executive vice president now owns 83,765 shares of the company’s stock, valued at $7,041,285.90. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s shares.

Shares in Northern Trust rose 1.9%

Shares of NASDAQ NTRS opened at $91.21 on Friday. Northern Trust Co. it has a 52-week low of $62.44 and a 52-week high of $92.46. The firm has a fifty day moving average of $86.02 and a 200 day moving average of $84.37. The stock has a market cap of $18.66 billion, a PE ratio of 20.13, a P/E/G ratio of 1.29 and a beta of 1.10. The company has a quick ratio of 0.71, a current ratio of 0.71, and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS – Get Free Report ) last announced its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.03. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the previous year, the company earned $1.79 EPS. The company’s quarterly revenue was up 53.8% compared to the same quarter last year. On average, analysts anticipate that Northern Trust Co. will post 7.02 EPS for the current year.

Northern Trust announces dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, September 6. This represents a dividend of $3.00 on an annualized basis and a dividend yield of 3.29%. Northern Trust’s dividend payout ratio (DPR) is currently 66.23%.

Analysts on Wall Street are forecasting an increase

Several brokerages have recently issued reports on NTRS. Deutsche Bank Aktiengesellschaft reduced their price objective on Northern Trust from $85.00 to $84.00 and set a “hold” rating for the company in a research report on Thursday, August 15th. Keefe, Bruyette & Woods cut their price target on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a research note on Thursday, June 27th . Morgan Stanley cut their price target on shares of Northern Trust from $97.00 to $93.00 and set an “underweight” rating for the company in a research note on Tuesday, July 30th. Goldman Sachs Group reduced their price target on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Finally, Royal Bank of Canada lifted their price target on shares of Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, 18 July. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $88.75.

Read the latest stock report on NTRS

Northern Trust Profile

(Free report)

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 provides asset maintenance and related services, including custody, fund administration, investment operations outsourcing, investment management, investment analysis and risk services, employee benefit services, securities lending, foreign exchange , treasury management, brokerage services, transition management services, banking and cash management services.

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