Palisade Capital Management LLC NJ maintained its position in Northern Trust Corporation (NASDAQ:NTRS) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,000 shares of the asset manager’s stock at the end of the second quarter. Palisade Capital Management LLC NJ’s holdings in Northern Trust Corporation were worth $1,361,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of NTRS. Vanguard Group Inc. boosted its position in 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 worth $1,202,764,000 after buying an additional 527,025 shares during the last quarter. BlackRock Inc. boosted its position in 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 worth $1,149,760,000 after buying an additional 12,817,363 shares during the last quarter. FMR LLC boosted its position in Northern Trust Corporation by 38.4% in the first quarter. FMR LLC now owns 12,370,754 shares of the asset manager’s stock worth $1,071,060,000 after buying an additional 3,430,332 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Northern Trust Corporation by 0.8% in the first quarter. JPMorgan Chase & Co. now owns 8,226,919 shares of the asset manager’s stock worth $712,287,000 after buying an additional 68,263 shares during the last quarter. Finally, Findlay Park Partners LLP boosted its position in 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 worth $237,458,000 after buying an additional 1,242,643 shares during the last quarter. 82.90% of the stock is currently owned by institutional investors and hedge funds.
Shares of Northern Trust Corporation (NASDAQ:NTRS) traded up 0.57% during mid-day trading on Friday, hitting $87.93. 1,149,151 shares of the company’s stock were exchanged. The company has a market capitalization of $20.09 billion, a price-to-earnings ratio of 19.96 and a beta of 0.92. The firm has a 50 day moving average price of $91.52 and a 200-day moving average price of $89.38. Northern Trust Corporation has a 52 week low of $66.40 and a 52 week high of $99.30.
Northern Trust Corporation (NASDAQ:NTRS) last issued its earnings results 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 firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. Northern Trust Corporation had a return on equity of 12.08% and a net margin of 20.21%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the business earned $1.09 earnings per share. On average, equities analysts anticipate that Northern Trust Corporation will post $4.72 EPS for the current year.
The company 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 $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 1.91%. The ex-dividend date of this dividend is Wednesday, August 30th. Northern Trust Corporation’s dividend payout ratio (DPR) is 34.55%.
Northern Trust Corporation declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the asset manager to repurchase up to 3.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
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A number of research analysts have recently commented on NTRS shares. Wells Fargo & Company started coverage on shares of Northern Trust Corporation in a research report on Wednesday, August 9th. They set a “market perform” rating and a $90.00 target price on the stock. Royal Bank Of Canada reissued a “buy” rating and set a $97.00 target price on shares of Northern Trust Corporation in a research report on Wednesday, May 10th. BidaskClub cut shares of Northern Trust Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research raised shares of Northern Trust Corporation from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research report on Wednesday, July 12th. Finally, Buckingham Research reaffirmed a “neutral” rating and issued a $103.00 price target (up from $93.00) on shares of Northern Trust Corporation in a report on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $94.15.
In related news, EVP Susan Gillian Pembleton sold 9,793 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $88.29, for a total value of $864,623.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Teresa Parker sold 11,399 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $87.65, for a total value of $999,122.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 167,736 shares of company stock valued at $15,608,092. 1.27% of the stock is 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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