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"One stock we like is Northern Trust (NTRS). It is a high-quality institution. It has a nice dividend yield of 2.8%, and a good dividend history. Shares aren't selling at a high multiple of earnings, and many competitors have been struggling during the year, either with management turmoil or some investigation into how they do business. Northern Trust is a share-gainer. It is a conservative institution based in Chicago, and has a great long-term record. The risk/return tradeoff is good."
This was an interesting pick for Rogers considering that NTRS is not even a top-15 pick in his fund. As of Sept. 30, 2011, Rogers held 4.1 million shares of the bank.
Shares of NTRS have been hammered this year in lockstep with other financial companies. The share price plunged from $55 to $35 as the European debt crisis roiled all financial companies.
John Paulson is another fan of NTRS, as his fund has $46 million invested in NTRS shares.
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