Shufro Rose & Co. LLC Continues to Hold Position in Northern Trust Corporation (NTRS)

Shufro Rose & Co. LLC held its stake in Northern Trust Corporation (NASDAQ:NTRS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,500 shares of the asset manager’s stock at the end of the second quarter. Shufro Rose & Co. LLC’s holdings in Northern Trust Corporation were worth $340,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Creative Planning increased its stake in Northern Trust Corporation by 117.8% in the first quarter. Creative Planning now owns 2,354 shares of the asset manager’s stock worth $204,000 after buying an additional 1,273 shares during the period. DnB Asset Management AS increased its stake in Northern Trust Corporation by 21.8% in the first quarter. DnB Asset Management AS now owns 25,713 shares of the asset manager’s stock worth $2,226,000 after buying an additional 4,600 shares during the period. Trust Department MB Financial Bank N A increased its stake in Northern Trust Corporation by 6.5% in the first quarter. Trust Department MB Financial Bank N A now owns 1,172 shares of the asset manager’s stock worth $101,000 after buying an additional 72 shares during the period. State of Alaska Department of Revenue purchased a new stake in Northern Trust Corporation during the first quarter worth $532,000. Finally, Retirement Systems of Alabama increased its stake in Northern Trust Corporation by 3.0% in the first quarter. Retirement Systems of Alabama now owns 103,959 shares of the asset manager’s stock worth $9,001,000 after buying an additional 3,076 shares during the period. Hedge funds and other institutional investors own 82.90% of the company’s stock.

Shares of Northern Trust Corporation (NTRS) opened at 89.48 on Thursday. Northern Trust Corporation has a 12-month low of $66.39 and a 12-month high of $99.30. The stock has a 50 day moving average price of $92.05 and a 200-day moving average price of $89.36. The stock has a market cap of $20.44 billion, a price-to-earnings ratio of 20.31 and a beta of 0.92.

Northern Trust Corporation (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 19th. The asset manager reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by $0.05. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. Northern Trust Corporation had a net margin of 20.21% and a return on equity of 12.08%. The company’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 earnings per share. Equities analysts anticipate that Northern Trust Corporation will post $4.72 EPS for the current fiscal year.

Northern Trust Corporation announced that its Board of Directors has approved a stock repurchase program on Wednesday, June 28th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the asset manager to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 1st will be given a $0.42 dividend. This is a boost from Northern Trust Corporation’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a yield of 1.88%. The ex-dividend date is Wednesday, August 30th. Northern Trust Corporation’s payout ratio is currently 34.55%.

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A number of equities research analysts have weighed in on NTRS shares. Deutsche Bank AG restated a “hold” rating and issued a $96.00 target price (up from $93.00) on shares of Northern Trust Corporation in a research report on Saturday, April 29th. Credit Suisse Group reiterated a “hold” rating and set a $90.00 price objective on shares of Northern Trust Corporation in a research report on Friday, May 5th. Royal Bank Of Canada reiterated a “buy” rating and set a $97.00 price objective on shares of Northern Trust Corporation in a research report on Wednesday, May 10th. Jefferies Group LLC reiterated a “buy” rating and set a $102.00 price objective on shares of Northern Trust Corporation in a research report on Wednesday, May 17th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $98.00 price objective (up previously from $61.32) on shares of Northern Trust Corporation in a research report on Friday, May 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $94.15.

In other Northern Trust Corporation news, Vice Chairman William L. Morrison sold 25,000 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $87.28, for a total transaction of $2,182,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Stephen N. Potter sold 48,110 shares of the business’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $95.20, for a total transaction of $4,580,072.00. The disclosure for this sale can be found here. Insiders sold a total of 192,736 shares of company stock worth $17,790,092 over the last ninety days. 1.27% of the stock is currently owned by 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.

Institutional Ownership by Quarter for Northern Trust Corporation (NASDAQ:NTRS)

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