BlackRock Inc. grew its position in Northern Trust Corporation (NASDAQ:NTRS) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,318,550 shares of the asset manager’s stock after acquiring an additional 38,780 shares during the period. BlackRock Inc. owned 5.83% of Northern Trust Corporation worth $1,294,697,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Huntington National Bank raised its stake in shares of Northern Trust Corporation by 54.0% in the second quarter. Huntington National Bank now owns 1,089 shares of the asset manager’s stock valued at $106,000 after acquiring an additional 382 shares during the last quarter. Dupont Capital Management Corp bought a new position in shares of Northern Trust Corporation in the second quarter valued at approximately $107,000. Kings Point Capital Management bought a new position in shares of Northern Trust Corporation in the first quarter valued at approximately $101,000. Bessemer Group Inc. raised its stake in shares of Northern Trust Corporation by 16.9% in the second quarter. Bessemer Group Inc. now owns 1,461 shares of the asset manager’s stock valued at $143,000 after acquiring an additional 211 shares during the last quarter. Finally, Atria Investments LLC bought a new position in shares of Northern Trust Corporation in the second quarter valued at approximately $200,000. Institutional investors own 81.92% of the company’s stock.
Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Northern Trust Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday. UBS AG upgraded shares of Northern Trust Corporation from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $92.00 to $100.00 in a research report on Friday, September 8th. Royal Bank Of Canada restated a “buy” rating and issued a $97.00 price objective on shares of Northern Trust Corporation in a research report on Friday, August 18th. BidaskClub upgraded shares of Northern Trust Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Finally, Wells Fargo & Company assumed 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 objective for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $94.57.
Shares of Northern Trust Corporation (NTRS) opened at 87.96 on Friday. Northern Trust Corporation has a 12 month low of $66.40 and a 12 month high of $99.30. The firm’s 50 day moving average is $88.36 and its 200 day moving average is $89.74. The company has a market cap of $20.10 billion, a PE ratio of 19.97 and a beta of 0.92.
Northern Trust Corporation (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, July 19th. The asset manager reported $1.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.05). The business had revenue of $1.33 billion for 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%. Northern Trust Corporation’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 EPS. On average, equities analysts predict that Northern Trust Corporation will post $4.72 earnings per share for the current year.
Northern Trust Corporation declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 28th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the asset manager to buy up to 3.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 1st will be paid a dividend of $0.42 per share. The ex-dividend date is Wednesday, August 30th. This represents a $1.68 annualized dividend and a dividend yield of 1.91%. This is an increase from Northern Trust Corporation’s previous quarterly dividend of $0.38. Northern Trust Corporation’s dividend payout ratio (DPR) is presently 38.18%.
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In other news, EVP Robert P. Browne sold 11,000 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $90.21, for a total transaction of $992,310.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Aileen B. Blake sold 7,762 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $88.45, for a total transaction of $686,548.90. The disclosure for this sale can be found here. Insiders have sold 132,673 shares of company stock valued at $12,394,090 in the last ninety days. Insiders own 1.27% of the company’s stock.
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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