Bank of Montreal Can Grows Position in Northern Trust Co. (NASDAQ:NTRS)

Bank of Montreal Can grew its stake in Northern Trust Co. (NASDAQ:NTRS) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 210,363 shares of the asset manager’s stock after buying an additional 8,307 shares during the period. Bank of Montreal Can owned 0.10% of Northern Trust worth $17,670,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NTRS. Evergreen Capital Management LLC raised its stake in shares of Northern Trust by 8.2% in the second quarter. Evergreen Capital Management LLC now owns 5,025 shares of the asset manager’s stock worth $426,000 after purchasing an additional 380 shares during the last quarter. Magnetar Financial LLC purchased a new position in Northern Trust during the 2nd quarter worth approximately $3,666,000. Public Sector Pension Investment Board lifted its stake in Northern Trust by 6.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 34,791 shares of the asset manager’s stock valued at $2,922,000 after acquiring an additional 2,201 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Northern Trust by 2.2% in the 2nd quarter. ProShare Advisors LLC now owns 54,590 shares of the asset manager’s stock valued at $4,584,000 after acquiring an additional 1,172 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its stake in shares of Northern Trust by 46.3% in the second quarter. Ensign Peak Advisors Inc now owns 95,999 shares of the asset manager’s stock worth $8,062,000 after acquiring an additional 30,375 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Up 0.2 %

NASDAQ NTRS opened at $90.07 on Friday. The business has a fifty day moving average price of $87.88 and a 200 day moving average price of $85.55. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market cap of $18.43 billion, a P/E ratio of 19.88, a P/E/G ratio of 1.53 and a beta of 1.08. Northern Trust Co. has a one year low of $62.44 and a one year high of $92.82.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 17th. The asset manager reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.03. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the prior year, the business earned $1.79 earnings per share. The company’s quarterly revenue was up 53.8% compared to the same quarter last year. Research analysts anticipate that Northern Trust Co. will post 7.01 EPS for the current fiscal year.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.00 annualized dividend and a dividend yield of 3.33%. Northern Trust’s dividend payout ratio is presently 66.23%.

Analyst Ratings Changes

NTRS has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. The Goldman Sachs Group downgraded Northern Trust from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $84.00 to $82.00 in a research note on Thursday. Keefe, Bruyette & Woods reduced their price target on Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a research report on Thursday, June 27th. Morgan Stanley lowered their price objective on Northern Trust from $97.00 to $93.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada lifted their target price on shares of Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $89.42.

Insider Buying and Selling

In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the sale, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $88,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at $88,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark C. Gossett sold 6,000 shares of Northern Trust stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the sale, the executive vice president now owns 28,707 shares in the company, valued at approximately $2,552,052.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,738 shares of company stock worth $1,191,388. 0.64% of the stock is owned by corporate insiders.

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, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.