Toronto Dominion Bank Increases Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Toronto Dominion Bank grew its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 1.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 119,385 shares of the asset manager’s stock after buying an additional 1,544 shares during the quarter. Toronto Dominion Bank’s holdings in Northern Trust were worth $10,616,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Spartan Planning & Wealth Management grew its stake in shares of Northern Trust by 10,566.7% during the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after buying an additional 317 shares during the period. Allworth Financial LP lifted its holdings in shares of Northern Trust by 94.1% during the 4th quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 174 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of Northern Trust by 77.8% during the 4th quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 158 shares in the last quarter. Friedenthal Financial acquired a new position in shares of Northern Trust during the 4th quarter valued at $45,000. Finally, Tributary Capital Management LLC acquired a new position in shares of Northern Trust during the 1st quarter valued at $53,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a report on Thursday, June 27th. 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. Jefferies Financial Group lifted their target price on shares of Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, April 18th. The Goldman Sachs Group cut their price objective on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Finally, Bank of America boosted their price objective on shares of Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $86.75.

Insider Activity at Northern Trust

In other Northern Trust news, insider Steven L. Fradkin sold 4,097 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total value of $338,248.32. Following the completion of the transaction, the insider now owns 46,078 shares in the company, valued at approximately $3,804,199.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Northern Trust news, insider Peter Cherecwich sold 12,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total value of $1,045,080.00. Following the completion of the transaction, the insider now owns 31,471 shares in the company, valued at approximately $2,740,809.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Steven L. Fradkin sold 4,097 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total transaction of $338,248.32. Following the completion of the sale, the insider now directly owns 46,078 shares of the company’s stock, valued at $3,804,199.68. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.

Northern Trust Stock Up 1.6 %

Shares of Northern Trust stock traded up $1.45 during trading on Friday, reaching $89.43. The company had a trading volume of 776,718 shares, compared to its average volume of 1,383,532. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust Co. has a fifty-two week low of $62.44 and a fifty-two week high of $92.46. The firm’s fifty day moving average is $84.22 and its 200-day moving average is $83.47. The company has a market cap of $18.30 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 1.28 and a beta of 1.10.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 earnings per share 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 the consensus estimate of $1.84 billion. During the same quarter in the prior year, the firm earned $1.79 EPS. The company’s revenue for the quarter 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Friday, September 6th. Northern Trust’s dividend payout ratio is presently 66.23%.

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, 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.