Brookstone Capital Management Acquires 417 Shares of Northern Trust Co. (NASDAQ:NTRS)

Brookstone Capital Management raised its holdings in Northern Trust Co. (NASDAQ:NTRS) by 6.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,316 shares of the asset manager’s stock after buying an additional 417 shares during the period. Brookstone Capital Management’s holdings in Northern Trust were worth $659,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Quarry LP bought a new position in Northern Trust during the fourth quarter worth $56,000. EP Wealth Advisors LLC bought a new stake in shares of Northern Trust during the 4th quarter worth about $200,000. Wellington Management Group LLP raised its holdings in Northern Trust by 140.2% in the 4th quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager’s stock valued at $489,640,000 after acquiring an additional 3,387,002 shares during the period. SageView Advisory Group LLC acquired a new stake in Northern Trust during the fourth quarter worth approximately $203,000. Finally, ICA Group Wealth Management LLC bought a new stake in shares of Northern Trust during the fourth quarter worth approximately $84,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Northern Trust

In related news, EVP Teresa Parker sold 5,883 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.06, for a total transaction of $494,524.98. Following the sale, the executive vice president now owns 83,765 shares of the company’s stock, valued at $7,041,285.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $88,120. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Teresa Parker sold 5,883 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.06, for a total transaction of $494,524.98. Following the completion of the sale, the executive vice president now directly owns 83,765 shares in the company, valued at approximately $7,041,285.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,738 shares of company stock worth $1,191,388. Corporate insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on NTRS. The Goldman Sachs Group downgraded shares of Northern Trust from a “neutral” rating to a “sell” rating and decreased their price target for the company from $84.00 to $82.00 in a research note on Thursday, September 26th. UBS Group boosted their price target on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Morgan Stanley raised their price objective on Northern Trust from $93.00 to $97.00 and gave the stock an “underweight” rating in a research note on Monday, September 30th. Keefe, Bruyette & Woods reduced their target price on Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a report on Thursday, June 27th. Finally, Royal Bank of Canada raised their price target on Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $90.42.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $92.17 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $18.59 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 1.44 and a beta of 1.08. Northern Trust Co. has a twelve month low of $62.44 and a twelve month high of $93.50. The stock’s 50-day simple moving average is $88.42 and its 200 day simple moving average is $86.04.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results 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. The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $1.84 billion. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The firm’s quarterly revenue was up 53.8% compared to the same quarter last year. During the same period last year, the company posted $1.79 EPS. On average, analysts anticipate that Northern Trust Co. will post 7.04 EPS for the current fiscal year.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.25%. Northern Trust’s payout ratio is presently 41.04%.

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, 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.