Palisade Asset Management LLC Buys 1,200 Shares of Northern Trust Co. (NASDAQ:NTRS)

Palisade Asset Management LLC raised its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 19.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,280 shares of the asset manager’s stock after purchasing an additional 1,200 shares during the quarter. Palisade Asset Management LLC’s holdings in Northern Trust were worth $658,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NTRS. Norges Bank bought a new stake in shares of Northern Trust during the fourth quarter valued at about $133,737,000. Morgan Stanley grew its position in Northern Trust by 112.2% during the third quarter. Morgan Stanley now owns 1,933,544 shares of the asset manager’s stock valued at $197,472,000 after acquiring an additional 1,022,270 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Northern Trust by 118.1% during the third quarter. Mackenzie Financial Corp now owns 1,852,696 shares of the asset manager’s stock valued at $189,216,000 after purchasing an additional 1,003,404 shares during the period. Glenmede Trust Co. NA boosted its stake in shares of Northern Trust by 169.1% during the third quarter. Glenmede Trust Co. NA now owns 1,494,466 shares of the asset manager’s stock valued at $152,628,000 after purchasing an additional 939,075 shares during the period. Finally, American Century Companies Inc. lifted its stake in Northern Trust by 18.0% in the fourth quarter. American Century Companies Inc. now owns 4,261,223 shares of the asset manager’s stock worth $356,196,000 after acquiring an additional 648,850 shares during the period. 78.96% of the stock is currently owned by institutional investors and hedge funds.

In other Northern Trust news, insider Teresa Parker sold 3,000 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was 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 this link. 1.15% of the stock is currently owned by corporate insiders.

A number of analysts recently commented on the company. ValuEngine raised Northern Trust from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. BidaskClub raised Northern Trust from a “sell” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Co restated an “outperform” rating and set a $131.00 price target (up from $124.00) on shares of Northern Trust in a report on Wednesday. They noted that the move was a valuation call. Zacks Investment Research upgraded Northern Trust from a “sell” rating to a “hold” rating in a report on Tuesday, March 12th. Finally, Raymond James downgraded Northern Trust from a “strong-buy” rating to a “market perform” rating and set a $89.93 price objective for the company. in a report on Thursday, January 24th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $110.79.

NASDAQ NTRS opened at $97.48 on Wednesday. The company has a market cap of $21.65 billion, a PE ratio of 14.48, 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 quick ratio of 0.63 and a current ratio of 0.63. Northern Trust Co. has a fifty-two week low of $75.96 and a fifty-two week high of $115.61.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Tuesday, April 23rd. The asset manager reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.02. Northern Trust had a return on equity of 16.03% and a net margin of 22.44%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the company posted $1.58 EPS. Northern Trust’s quarterly revenue was up .3% on a year-over-year basis. On average, equities analysts expect that Northern Trust Co. will post 6.79 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Thursday, June 13th. Northern Trust’s dividend payout ratio is 35.66%.

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Northern Trust 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.

Read More: SEC Filing

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

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