APG Asset Management N.V. Has $15.91 Million Holdings in Northern Trust Corporation (NTRS)

APG Asset Management N.V. raised its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 45.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 173,104 shares of the asset manager’s stock after acquiring an additional 53,900 shares during the quarter. APG Asset Management N.V. owned about 0.08% of Northern Trust Corporation worth $15,913,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Tdam USA Inc. lifted its stake in shares of Northern Trust Corporation by 0.4% in the second quarter. Tdam USA Inc. now owns 2,629 shares of the asset manager’s stock worth $255,000 after buying an additional 10 shares during the last quarter. Creative Planning lifted its stake in shares of Northern Trust Corporation by 0.8% in the second quarter. Creative Planning now owns 2,374 shares of the asset manager’s stock worth $231,000 after buying an additional 20 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of Northern Trust Corporation by 0.8% in the first quarter. Oppenheimer & Co. Inc. now owns 2,821 shares of the asset manager’s stock worth $244,000 after buying an additional 21 shares during the last quarter. Bank of The West lifted its stake in shares of Northern Trust Corporation by 0.7% in the second quarter. Bank of The West now owns 3,506 shares of the asset manager’s stock worth $341,000 after buying an additional 26 shares during the last quarter. Finally, Wetherby Asset Management Inc. lifted its stake in shares of Northern Trust Corporation by 0.5% in the second quarter. Wetherby Asset Management Inc. now owns 5,867 shares of the asset manager’s stock worth $570,000 after buying an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 81.90% of the company’s stock.

In related news, Chairman Frederick H. Waddell sold 100,000 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $92.00, for a total value of $9,200,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman William L. Morrison sold 11,058 shares of the firm’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $94.34, for a total value of $1,043,211.72. The disclosure for this sale can be found here. Insiders have sold a total of 351,382 shares of company stock worth $32,908,051 in the last quarter. Company insiders own 1.27% of the company’s stock.

A number of analysts have recently weighed in on NTRS shares. Bank of America Corporation reduced their price objective on shares of Northern Trust Corporation from $106.00 to $97.00 and set a “buy” rating for the company in a research note on Thursday, July 20th. BidaskClub lowered shares of Northern Trust Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. 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. Royal Bank Of Canada reaffirmed a “buy” rating and set a $97.00 target price on shares of Northern Trust Corporation in a research report on Friday, August 18th. Finally, UBS AG raised shares of Northern Trust Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $92.00 to $100.00 in a research report on Friday, September 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $97.07.

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Shares of Northern Trust Corporation (NTRS) opened at 93.52 on Wednesday. Northern Trust Corporation has a one year low of $71.62 and a one year high of $99.30. The firm has a 50-day moving average of $92.20 and a 200 day moving average of $90.97. The company has a market cap of $21.37 billion, a price-to-earnings ratio of 21.23 and a beta of 0.93.

Northern Trust Corporation (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, October 18th. The asset manager reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.08. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Northern Trust Corporation had a return on equity of 12.33% and a net margin of 20.27%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.11 EPS. Equities research analysts anticipate that Northern Trust Corporation will post $4.70 EPS for the current year.

Northern Trust Corporation declared that its Board of Directors has approved a share buyback program on Tuesday, July 18th that authorizes the company to repurchase 9,500,000 outstanding shares. This repurchase authorization authorizes the asset manager to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 1st will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.80%. The ex-dividend date is Thursday, November 30th. Northern Trust Corporation’s payout ratio is 37.17%.

About Northern Trust Corporation

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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