Mondrian Investment Partners LTD lowered its stake in Northern Trust Corporation (NASDAQ:NTRS) by 8.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 513,265 shares of the asset manager’s stock after selling 45,798 shares during the period. Northern Trust Corporation comprises 1.4% of Mondrian Investment Partners LTD’s holdings, making the stock its 27th largest position. Mondrian Investment Partners LTD owned 0.22% of Northern Trust Corporation worth $49,894,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Northern Trust Corporation by 2,771.9% in the first quarter. BlackRock Inc. now owns 13,279,770 shares of the asset manager’s stock valued at $1,149,760,000 after buying an additional 12,817,363 shares during the period. FMR LLC boosted its stake in shares of Northern Trust Corporation by 38.4% in the first quarter. FMR LLC now owns 12,370,754 shares of the asset manager’s stock valued at $1,071,060,000 after buying an additional 3,430,332 shares during the period. Findlay Park Partners LLP boosted its stake in shares of Northern Trust Corporation by 82.8% in the first quarter. Findlay Park Partners LLP now owns 2,742,643 shares of the asset manager’s stock valued at $237,458,000 after buying an additional 1,242,643 shares during the period. Primecap Management Co. CA boosted its stake in shares of Northern Trust Corporation by 30.2% in the first quarter. Primecap Management Co. CA now owns 2,553,950 shares of the asset manager’s stock valued at $221,121,000 after buying an additional 592,550 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Northern Trust Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 13,891,932 shares of the asset manager’s stock valued at $1,202,764,000 after buying an additional 527,025 shares during the period. 83.48% of the stock is currently owned by institutional investors.
Shares of Northern Trust Corporation (NTRS) opened at 87.20 on Friday. The company has a 50-day moving average of $92.73 and a 200 day moving average of $89.18. Northern Trust Corporation has a one year low of $66.40 and a one year high of $99.30. The stock has a market capitalization of $19.92 billion, a price-to-earnings ratio of 19.80 and a beta of 0.92.
Northern Trust Corporation (NASDAQ:NTRS) last released its earnings results on Wednesday, July 19th. The asset manager reported $1.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by $0.05. Northern Trust Corporation had a return on equity of 12.08% and a net margin of 20.21%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the company posted $1.09 earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year. Equities research analysts forecast that Northern Trust Corporation will post $4.72 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 1st will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, August 30th. This is an increase from Northern Trust Corporation’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a yield of 1.93%. Northern Trust Corporation’s dividend payout ratio is 34.55%.
Northern Trust Corporation declared that its board has approved a share repurchase program on Wednesday, June 28th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the asset manager to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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Several equities research analysts have issued reports on NTRS shares. Morgan Stanley reaffirmed an “underweight” rating and set a $86.00 target price (up previously from $80.00) on shares of Northern Trust Corporation in a research note on Friday, July 7th. Deutsche Bank AG lowered their target price on shares of Northern Trust Corporation from $103.00 to $93.00 and set a “hold” rating on the stock in a research note on Thursday, July 20th. Royal Bank Of Canada reiterated a “buy” rating and set a $97.00 price target on shares of Northern Trust Corporation in a report on Thursday, June 29th. Credit Suisse Group reiterated a “hold” rating and set a $90.00 price target on shares of Northern Trust Corporation in a report on Monday, May 15th. Finally, BidaskClub lowered Northern Trust Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $94.15.
In other news, COO Jana R. Schreuder sold 5,538 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $88.33, for a total value of $489,171.54. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephen N. Potter sold 28,469 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $99.08, for a total value of $2,820,708.52. The disclosure for this sale can be found here. Insiders have sold 184,974 shares of company stock worth $17,103,543 over the last quarter. 1.27% of the stock is currently owned by company insiders.
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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