Douglass Winthrop Advisors LLC decreased its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 12.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,200 shares of the asset manager’s stock after selling 2,100 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Northern Trust Corporation were worth $1,478,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Trust Department MB Financial Bank N A raised its position 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 last quarter. Kings Point Capital Management bought a new position in Northern Trust Corporation during the first quarter worth $101,000. Huntington National Bank raised its position in Northern Trust Corporation by 54.0% in the second quarter. Huntington National Bank now owns 1,089 shares of the asset manager’s stock worth $106,000 after buying an additional 382 shares during the last quarter. Dupont Capital Management Corp bought a new position in Northern Trust Corporation during the second quarter worth $107,000. Finally, Advisory Services Network LLC bought a new position in Northern Trust Corporation during the first quarter worth $117,000. Institutional investors and hedge funds own 82.90% of the company’s stock.
Shares of Northern Trust Corporation (NASDAQ NTRS) opened at 87.43 on Friday. Northern Trust Corporation has a 52-week low of $66.39 and a 52-week high of $99.30. The stock’s 50 day moving average price is $91.78 and its 200-day moving average price is $89.35. The firm has a market capitalization of $19.98 billion, a PE ratio of 19.85 and a beta of 0.92.
Northern Trust Corporation (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, July 19th. The asset manager reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by $0.05. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Northern Trust Corporation had a return on equity of 12.08% and a net margin of 20.21%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 earnings per share. Equities research analysts anticipate that Northern Trust Corporation will post $4.72 EPS for the current fiscal year.
Northern Trust Corporation declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 1st will be issued a dividend of $0.42 per share. 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 1.92%. The ex-dividend date is Wednesday, August 30th. Northern Trust Corporation’s dividend payout ratio is currently 34.55%.
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A number of equities analysts have weighed in on NTRS shares. Royal Bank Of Canada reiterated a “buy” rating and set a $97.00 price objective on shares of Northern Trust Corporation in a research note on Wednesday, May 10th. 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 note on Friday, May 26th. Jefferies Group LLC reiterated a “buy” rating and set a $102.00 price objective on shares of Northern Trust Corporation in a research note on Wednesday, May 17th. BidaskClub upgraded Northern Trust Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Finally, Zacks Investment Research upgraded Northern Trust Corporation from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $94.15.
In related news, EVP Aileen B. Blake sold 7,762 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $88.45, for a total transaction of $686,548.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Susan Gillian Pembleton sold 9,793 shares of the stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $88.29, for a total transaction of $864,623.97. The disclosure for this sale can be found here. Insiders have sold 167,736 shares of company stock valued at $15,608,092 over the last three months. 1.27% of the stock is currently owned by corporate 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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