Northern Trust Co. (NTRS) Stake Lessened by Millennium Management LLC

Millennium Management LLC lessened its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 59.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 419,548 shares of the asset manager’s stock after selling 607,584 shares during the period. Millennium Management LLC owned approximately 0.19% of Northern Trust worth $35,070,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Private Trust Co. NA increased its holdings in shares of Northern Trust by 16.7% in the 4th quarter. Private Trust Co. NA now owns 6,987 shares of the asset manager’s stock worth $584,000 after buying an additional 1,000 shares during the last quarter. Penobscot Investment Management Company Inc. boosted its stake in shares of Northern Trust by 10.0% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 12,615 shares of the asset manager’s stock valued at $1,054,000 after purchasing an additional 1,150 shares in the last quarter. First Citizens Bank & Trust Co. boosted its stake in shares of Northern Trust by 86.8% in the 4th quarter. First Citizens Bank & Trust Co. now owns 19,673 shares of the asset manager’s stock valued at $1,644,000 after purchasing an additional 9,140 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Northern Trust by 5.0% in the 4th quarter. Legal & General Group Plc now owns 986,183 shares of the asset manager’s stock valued at $82,436,000 after purchasing an additional 47,277 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in shares of Northern Trust by 9.9% in the 3rd quarter. LPL Financial LLC now owns 14,026 shares of the asset manager’s stock valued at $1,432,000 after purchasing an additional 1,261 shares in the last quarter. 78.95% of the stock is currently owned by institutional investors and hedge funds.

NTRS traded down $0.55 during trading on Friday, hitting $91.87. 1,870,692 shares of the stock traded hands, compared to its average volume of 1,180,387. The stock has a market capitalization of $20.07 billion, a P/E ratio of 13.65, a PEG ratio of 1.21 and a beta of 1.06. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.35. Northern Trust Co. has a 12-month low of $75.96 and a 12-month high of $115.61.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, January 23rd. The asset manager reported $1.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.19. Northern Trust had a net margin of 23.37% and a return on equity of 16.62%. The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the company posted $1.51 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Sell-side analysts expect that Northern Trust Co. will post 6.66 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.61%. This is a boost from Northern Trust’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Thursday, March 7th. Northern Trust’s dividend payout ratio (DPR) is currently 35.66%.

A number of equities research analysts have recently issued reports on the stock. Raymond James cut shares of Northern Trust from a “strong-buy” rating to a “market perform” rating and set a $89.93 price objective for the company. in a research note on Thursday, January 24th. BidaskClub raised shares of Northern Trust from a “sell” rating to a “hold” rating in a research note on Friday, April 5th. ValuEngine cut shares of Northern Trust from a “hold” rating to a “sell” rating in a research note on Monday, February 25th. Vining Sparks reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Northern Trust in a research note on Wednesday, January 23rd. Finally, Morgan Stanley cut their price objective 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. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Northern Trust presently has a consensus rating of “Hold” and an average target price of $110.45.

TRADEMARK VIOLATION NOTICE: “Northern Trust Co. (NTRS) Stake Lessened by Millennium Management LLC” was originally published by Baseball Daily News and is the property of of Baseball Daily News. If you are viewing this report on another site, it was stolen and republished in violation of U.S. & international copyright & trademark law. The original version of this report can be read at https://www.baseballdailydigest.com/news/2019/04/21/millennium-management-llc-sells-607584-shares-of-northern-trust-co-ntrs.html.

Northern Trust Company Profile

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.

Featured Article: Back-End Load

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

Receive News & Ratings for Northern Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Trust and related companies with MarketBeat.com's FREE daily email newsletter.