Reilly Financial Advisors LLC raised its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 0.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,028 shares of the asset manager’s stock after buying an additional 918 shares during the quarter. Reilly Financial Advisors LLC owned 0.05% of Northern Trust Corporation worth $10,575,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Tdam USA Inc. lifted its position 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 purchasing an additional 10 shares in the last quarter. Creative Planning lifted its position 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 purchasing an additional 20 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position 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 purchasing an additional 21 shares in the last quarter. Bank of The West lifted its position 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 purchasing an additional 26 shares in the last quarter. Finally, Wetherby Asset Management Inc. lifted its position 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 purchasing an additional 27 shares in the last quarter. 81.90% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on NTRS shares. Wells Fargo & Company started coverage on shares of Northern Trust Corporation in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $90.00 price target for the company. BidaskClub lowered 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 price target for the company in a research report on Wednesday, July 12th. Buckingham Research reissued a “neutral” rating and issued a $103.00 price target (up from $93.00) on shares of Northern Trust Corporation in a research report on Monday, July 10th. Finally, UBS AG increased their price target on shares of Northern Trust Corporation from $100.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $97.07.
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In other news, Vice Chairman William L. Morrison sold 11,058 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $94.34, for a total transaction of $1,043,211.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jana R. Schreuder sold 5,538 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $88.33, for a total value of $489,171.54. The disclosure for this sale can be found here. Insiders sold a total of 351,382 shares of company stock worth $32,908,051 in the last 90 days. Company insiders own 1.27% of the company’s stock.
Northern Trust Corporation (NTRS) traded up 0.66% during trading on Wednesday, reaching $94.14. The company had a trading volume of 148,436 shares. The company has a market capitalization of $21.51 billion, a PE ratio of 21.37 and a beta of 0.93. Northern Trust Corporation has a 52-week low of $71.62 and a 52-week high of $99.30. The company has a 50 day moving average price of $92.20 and a 200 day moving average price of $90.97.
Northern Trust Corporation (NASDAQ:NTRS) last released its earnings results on Wednesday, October 18th. The asset manager reported $1.20 EPS for the quarter, beating the Thomson Reuters’ 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 business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.11 EPS. On average, equities analysts forecast that Northern Trust Corporation will post $4.70 EPS for the current fiscal year.
Northern Trust Corporation announced that its Board of Directors has initiated a share repurchase program on Tuesday, July 18th that authorizes the company to buyback 9,500,000 outstanding shares. This buyback authorization authorizes the asset manager to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 1st will be paid a $0.42 dividend. 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.
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