Oregon Public Employees Retirement Fund Has $2,173,000 Position in Northern Trust Corporation (NASDAQ:NTRS)
Oregon Public Employees Retirement Fund held its position in Northern Trust Corporation (NASDAQ:NTRS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,353 shares of the asset manager’s stock at the end of the second quarter. Oregon Public Employees Retirement Fund’s holdings in Northern Trust Corporation were worth $2,173,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of NTRS. Trust Department MB Financial Bank N A raised its stake in Northern Trust Corporation by 6.5% in the first quarter. Trust Department MB Financial Bank N A now owns 1,172 shares of the asset manager’s stock valued at $101,000 after buying an additional 72 shares during the last quarter. Kings Point Capital Management acquired a new stake in Northern Trust Corporation during the first quarter valued at about $101,000. Advisory Services Network LLC acquired a new stake in Northern Trust Corporation during the first quarter valued at about $117,000. Jolley Asset Management LLC raised its stake in Northern Trust Corporation by 25.9% in the first quarter. Jolley Asset Management LLC now owns 1,700 shares of the asset manager’s stock valued at $147,000 after buying an additional 350 shares during the last quarter. Finally, Atria Investments LLC acquired a new stake in Northern Trust Corporation during the second quarter valued at about $200,000. 83.48% of the stock is currently owned by institutional investors.
Northern Trust Corporation (NTRS) traded down 0.79% during midday trading on Monday, reaching $88.29. 645,801 shares of the company were exchanged. The firm has a market cap of $20.17 billion, a P/E ratio of 20.04 and a beta of 0.92. Northern Trust Corporation has a one year low of $66.39 and a one year high of $99.30. The firm’s 50-day moving average is $93.88 and its 200-day moving average is $89.09.
Northern Trust Corporation (NASDAQ:NTRS) last announced its earnings results on Wednesday, July 19th. The asset manager reported $1.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 for the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the firm posted $1.09 EPS. The company’s revenue was up .5% compared to the same quarter last year. On average, equities analysts expect that Northern Trust Corporation will post $4.72 EPS for the current fiscal year.
Northern Trust Corporation declared that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes 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 management believes its stock is undervalued.
The business 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 dividend of $0.42 per share. The ex-dividend date is Wednesday, August 30th. This represents a $1.68 dividend on an annualized basis and a yield of 1.90%. This is a positive change from Northern Trust Corporation’s previous quarterly dividend of $0.38. Northern Trust Corporation’s payout ratio is 34.55%.
Several equities research analysts have recently issued reports on NTRS shares. Jefferies Group LLC raised shares of Northern Trust Corporation from a “hold” rating to a “buy” rating and increased their price objective for the stock from $90.00 to $102.00 in a research report on Tuesday, April 11th. Royal Bank Of Canada reissued a “buy” rating and issued a $97.00 price objective on shares of Northern Trust Corporation in a research report on Wednesday, May 10th. Bank of America Corporation reissued a “buy” rating and issued a $98.00 price objective (up previously from $61.32) on shares of Northern Trust Corporation in a research report on Friday, May 26th. BidaskClub raised shares of Northern Trust Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Finally, Zacks Investment Research raised shares of Northern Trust Corporation from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $94.50.
In related news, Vice Chairman William L. Morrison sold 25,000 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $87.28, for a total transaction of $2,182,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Teresa Parker sold 11,399 shares of the business’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $87.65, for a total transaction of $999,122.35. The disclosure for this sale can be found here. Insiders have sold 179,436 shares of company stock worth $16,614,372 in the last ninety days. 1.27% of the stock is currently owned by insiders.
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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