IHT Wealth Management LLC Makes New Investment in Northern Trust Co. (NASDAQ:NTRS)

IHT Wealth Management LLC acquired a new position in Northern Trust Co. (NASDAQ:NTRS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,726 shares of the asset manager’s stock, valued at approximately $348,000.

Several other hedge funds have also modified their holdings of NTRS. Royal Bank of Scotland Group PLC purchased a new stake in shares of Northern Trust in the second quarter worth about $202,000. Strs Ohio boosted its holdings in Northern Trust by 2.1% in the 2nd quarter. Strs Ohio now owns 6,242 shares of the asset manager’s stock worth $561,000 after acquiring an additional 126 shares during the period. BTIM Corp. boosted its holdings in Northern Trust by 3.0% in the 2nd quarter. BTIM Corp. now owns 682,205 shares of the asset manager’s stock worth $61,398,000 after acquiring an additional 20,001 shares during the period. First Merchants Corp grew its position in Northern Trust by 1.8% in the second quarter. First Merchants Corp now owns 45,648 shares of the asset manager’s stock valued at $4,108,000 after acquiring an additional 802 shares in the last quarter. Finally, Virginia Retirement Systems ET AL grew its position in Northern Trust by 5.1% in the second quarter. Virginia Retirement Systems ET AL now owns 412,400 shares of the asset manager’s stock valued at $37,116,000 after acquiring an additional 19,900 shares in the last quarter. 81.83% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ NTRS opened at $106.52 on Tuesday. The company has a market capitalization of $22.72 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 1.72 and a beta of 1.23. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.61 and a quick ratio of 0.61. Northern Trust Co. has a 12 month low of $75.96 and a 12 month high of $108.49. The company’s fifty day moving average price is $102.90 and its two-hundred day moving average price is $93.74.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, October 23rd. The asset manager reported $1.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.06. Northern Trust had a net margin of 22.10% and a return on equity of 15.66%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the firm earned $1.58 EPS. The company’s revenue was up 4.1% on a year-over-year basis. As a group, analysts anticipate that Northern Trust Co. will post 6.65 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a $0.70 dividend. The ex-dividend date is Thursday, December 12th. This represents a $2.80 dividend on an annualized basis and a yield of 2.63%. Northern Trust’s dividend payout ratio (DPR) is 41.60%.

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In related news, EVP Thomas A. South sold 1,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $98.54, for a total transaction of $98,540.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Biff Bowman sold 13,208 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $106.53, for a total value of $1,407,048.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,234 shares of company stock valued at $5,771,074. 1.15% of the stock is owned by corporate insiders.

A number of research firms have recently commented on NTRS. Buckingham Research reduced their target price on shares of Northern Trust from $118.00 to $112.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. JPMorgan Chase & Co. lowered their price target on shares of Northern Trust from $101.50 to $98.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Bank of America lifted their price target on shares of Northern Trust from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. UBS Group lowered shares of Northern Trust from a “buy” rating to a “neutral” rating in a report on Wednesday, September 25th. Finally, Deutsche Bank upped their price objective on shares of Northern Trust from $110.00 to $112.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. Northern Trust has an average rating of “Hold” and an average target price of $104.07.

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.

Further Reading: Analyst Ratings Trading

Want to see what other hedge funds are holding NTRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northern Trust Co. (NASDAQ:NTRS).

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

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