Johnson Financial Group Inc. reduced its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 60.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,526 shares of the asset manager’s stock after selling 3,790 shares during the quarter. Johnson Financial Group Inc.’s holdings in Northern Trust Corporation were worth $246,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of NTRS. Profund Advisors LLC boosted its stake in shares of Northern Trust Corporation by 8.1% during the first quarter. Profund Advisors LLC now owns 7,050 shares of the asset manager’s stock valued at $610,000 after purchasing an additional 528 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Northern Trust Corporation by 56.8% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 5,039 shares of the asset manager’s stock valued at $436,000 after purchasing an additional 1,825 shares during the period. First Trust Advisors LP boosted its stake in shares of Northern Trust Corporation by 133.3% during the first quarter. First Trust Advisors LP now owns 139,801 shares of the asset manager’s stock valued at $12,104,000 after purchasing an additional 79,888 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Northern Trust Corporation by 78.1% during the first quarter. Advisors Asset Management Inc. now owns 6,234 shares of the asset manager’s stock valued at $540,000 after purchasing an additional 2,734 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Northern Trust Corporation by 73.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 16,613 shares of the asset manager’s stock valued at $1,488,000 after purchasing an additional 7,012 shares during the period. 81.92% of the stock is owned by hedge funds and other institutional investors.
Northern Trust Corporation (NASDAQ:NTRS) traded up 1.87% during mid-day trading on Friday, hitting $88.46. The company had a trading volume of 1,392,630 shares. Northern Trust Corporation has a 52-week low of $66.40 and a 52-week high of $99.30. The company has a market capitalization of $20.21 billion, a P/E ratio of 20.08 and a beta of 0.92. The company has a 50-day moving average price of $88.22 and a 200 day moving average price of $89.69.
Northern Trust Corporation (NASDAQ:NTRS) last announced its earnings results on Wednesday, July 19th. The asset manager reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by $0.05. Northern Trust Corporation had a net margin of 20.21% and a return on equity of 12.08%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the business earned $1.09 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. On average, analysts forecast that Northern Trust Corporation will post $4.72 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 1st will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Wednesday, August 30th. This is a boost from Northern Trust Corporation’s previous quarterly dividend of $0.38. Northern Trust Corporation’s dividend payout ratio (DPR) is presently 38.18%.
Northern Trust Corporation declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the asset manager to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other news, EVP Aileen B. Blake sold 7,762 shares of Northern Trust Corporation stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $88.45, for a total value of $686,548.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jana R. Schreuder sold 5,538 shares of Northern Trust Corporation stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $88.33, for a total value of $489,171.54. The disclosure for this sale can be found here. Insiders sold a total of 158,057 shares of company stock valued at $14,755,654 in the last quarter. Company insiders own 1.27% of the company’s stock.
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A number of analysts have recently issued reports on NTRS shares. Royal Bank Of Canada reissued a “buy” rating and set a $97.00 target price on shares of Northern Trust Corporation in a research note on Friday, August 18th. Credit Suisse Group reissued a “hold” rating and set a $90.00 target price on shares of Northern Trust Corporation in a research note on Sunday, May 28th. Morgan Stanley lowered their target price on shares of Northern Trust Corporation from $86.00 to $83.00 and set an “underweight” rating for the company in a research note on Thursday, July 20th. BidaskClub lowered shares of Northern Trust Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Zacks Investment Research lowered shares of Northern Trust Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $94.57.
Northern Trust Corporation Company Profile
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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