Benin Management CORP Has $697,000 Stock Position in Northern Trust Corporation $NTRS

Benin Management CORP lowered its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 35.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,500 shares of the asset manager’s stock after selling 2,960 shares during the quarter. Benin Management CORP’s holdings in Northern Trust were worth $697,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in Northern Trust by 47.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager’s stock worth $178,637,000 after acquiring an additional 585,992 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Northern Trust by 4.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager’s stock worth $774,411,000 after acquiring an additional 363,472 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in Northern Trust by 8.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager’s stock worth $8,383,000 after acquiring an additional 6,570 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in Northern Trust by 529.4% during the 1st quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager’s stock worth $45,515,000 after acquiring an additional 388,081 shares during the last quarter. Finally, Kathmere Capital Management LLC grew its holdings in Northern Trust by 96.7% during the 1st quarter. Kathmere Capital Management LLC now owns 5,239 shares of the asset manager’s stock worth $517,000 after acquiring an additional 2,575 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on NTRS shares. Morgan Stanley raised their target price on shares of Northern Trust from $110.00 to $131.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. Wall Street Zen raised shares of Northern Trust from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. BMO Capital Markets started coverage on shares of Northern Trust in a research note on Friday, October 3rd. They set a “market perform” rating and a $142.00 price objective on the stock. Citigroup lifted their price objective on shares of Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Northern Trust in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $128.23.

Insider Activity

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 256 shares of Northern Trust stock in a transaction dated Wednesday, August 13th. The stock was bought at an average price of $126.34 per share, with a total value of $32,343.04. Following the completion of the transaction, the director owned 2,525 shares in the company, valued at $319,008.50. The trade was a 11.28% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.77% of the company’s stock.

Northern Trust Price Performance

NASDAQ:NTRS opened at $128.52 on Wednesday. The firm has a fifty day simple moving average of $129.67 and a 200 day simple moving average of $117.27. The stock has a market capitalization of $24.58 billion, a PE ratio of 15.10, a P/E/G ratio of 1.44 and a beta of 1.31. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. Northern Trust Corporation has a 1-year low of $81.62 and a 1-year high of $135.48.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.05. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the business posted $4.34 earnings per share. The company’s revenue for the quarter was down 26.4% compared to the same quarter last year. On average, research analysts expect that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 5th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, December 5th. Northern Trust’s payout ratio is presently 37.60%.

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.