Northern Trust Corporation (NTRS) Holdings Cut by State Street Corp

State Street Corp trimmed its position in Northern Trust Corporation (NASDAQ:NTRS) by 2.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 10,131,633 shares of the asset manager’s stock after selling 209,526 shares during the period. State Street Corp owned about 4.43% of Northern Trust Corporation worth $984,889,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in Northern Trust Corporation by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 14,255,623 shares of the asset manager’s stock worth $1,385,789,000 after purchasing an additional 363,691 shares in the last quarter. BlackRock Inc. grew its position in Northern Trust Corporation by 0.3% in the 2nd quarter. BlackRock Inc. now owns 13,318,550 shares of the asset manager’s stock worth $1,294,697,000 after purchasing an additional 38,780 shares in the last quarter. Northern Trust Corp grew its position in Northern Trust Corporation by 1.5% in the 2nd quarter. Northern Trust Corp now owns 12,414,424 shares of the asset manager’s stock worth $1,206,806,000 after purchasing an additional 184,112 shares in the last quarter. FMR LLC grew its position in Northern Trust Corporation by 38.4% in the 1st quarter. FMR LLC now owns 12,370,754 shares of the asset manager’s stock worth $1,071,060,000 after purchasing an additional 3,430,332 shares in the last quarter. Finally, Primecap Management Co. CA grew its position in Northern Trust Corporation by 30.2% in the 1st quarter. Primecap Management Co. CA now owns 2,553,950 shares of the asset manager’s stock worth $221,121,000 after purchasing an additional 592,550 shares in the last quarter. 81.90% of the stock is owned by institutional investors and hedge funds.

Shares of Northern Trust Corporation (NTRS) traded up 0.32% during mid-day trading on Friday, hitting $93.27. 1,995,336 shares of the company were exchanged. Northern Trust Corporation has a 52 week low of $68.78 and a 52 week high of $99.30. The company has a market capitalization of $21.31 billion, a P/E ratio of 21.17 and a beta of 0.93. The company has a 50 day moving average of $89.59 and a 200 day moving average of $89.97.

Northern Trust Corporation (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, July 19th. The asset manager reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). Northern Trust Corporation had a return on equity of 12.08% and a net margin of 20.21%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm earned $1.09 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. Equities analysts anticipate that Northern Trust Corporation will post $4.71 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 1st were paid a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This is a positive change from Northern Trust Corporation’s previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.80%. Northern Trust Corporation’s payout ratio is currently 38.18%.

Northern Trust Corporation announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the asset manager to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

In related news, EVP Aileen B. Blake sold 7,762 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $88.45, for a total transaction of $686,548.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Frederick H. Waddell sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $92.00, for a total transaction of $9,200,000.00. The disclosure for this sale can be found here. Insiders sold 165,094 shares of company stock valued at $15,021,309 over the last quarter. Company insiders own 1.27% of the company’s stock.

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NTRS has been the subject of a number of recent analyst reports. BidaskClub raised shares of Northern Trust Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Royal Bank Of Canada reiterated a “buy” rating and issued a $97.00 target price on shares of Northern Trust Corporation in a research note on Thursday, June 29th. Morgan Stanley reiterated an “underweight” rating and issued a $86.00 target price (up from $80.00) on shares of Northern Trust Corporation in a research note on Friday, July 7th. Buckingham Research reiterated a “neutral” rating and issued a $103.00 target price (up from $93.00) on shares of Northern Trust Corporation in a research note on Monday, July 10th. Finally, Zacks Investment Research upgraded 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 note on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $96.23.

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.

Institutional Ownership by Quarter for Northern Trust Corporation (NASDAQ:NTRS)

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