Tributary Capital Management LLC raised its position in Northern Trust Corporation (NASDAQ:NTRS) by 53.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,045 shares of the asset manager’s stock after buying an additional 9,435 shares during the period. Tributary Capital Management LLC’s holdings in Northern Trust Corporation were worth $2,629,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in NTRS. Vanguard Group Inc. raised its position in shares of Northern Trust Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 13,891,932 shares of the asset manager’s stock worth $1,202,764,000 after buying an additional 527,025 shares in the last quarter. BlackRock Inc. raised its position in shares of Northern Trust Corporation by 2,771.9% in the first quarter. BlackRock Inc. now owns 13,279,770 shares of the asset manager’s stock worth $1,149,760,000 after buying an additional 12,817,363 shares in the last quarter. FMR LLC raised its position in shares of Northern Trust Corporation by 38.4% in the first quarter. FMR LLC now owns 12,370,754 shares of the asset manager’s stock worth $1,071,060,000 after buying an additional 3,430,332 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Northern Trust Corporation by 0.8% in the first quarter. JPMorgan Chase & Co. now owns 8,226,919 shares of the asset manager’s stock valued at $712,287,000 after buying an additional 68,263 shares during the period. Finally, Findlay Park Partners LLP raised its position in shares of Northern Trust Corporation by 82.8% in the first quarter. Findlay Park Partners LLP now owns 2,742,643 shares of the asset manager’s stock valued at $237,458,000 after buying an additional 1,242,643 shares during the period. Institutional investors and hedge funds own 83.48% of the company’s stock.

Shares of Northern Trust Corporation (NASDAQ:NTRS) opened at 88.99 on Monday. The company’s 50-day moving average price is $93.88 and its 200 day moving average price is $89.09. The stock has a market capitalization of $20.33 billion, a PE ratio of 20.20 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.

Northern Trust Corporation (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, July 19th. The asset manager reported $1.18 earnings per share for the quarter, missing the Thomson Reuters’ 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 in the previous year, the firm earned $1.09 earnings per share. The company’s revenue was up .5% compared to the same quarter last year. Analysts anticipate that Northern Trust Corporation will post $4.72 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 1st will be paid a dividend of $0.42 per share. This is a boost from Northern Trust Corporation’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Wednesday, August 30th. Northern Trust Corporation’s payout ratio is presently 34.55%.

Northern Trust Corporation declared that its board has approved a share repurchase plan on Wednesday, June 28th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

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NTRS has been the topic of several recent research reports. Jefferies Group LLC upgraded Northern Trust Corporation from a “hold” rating to a “buy” rating and increased their price objective for the company from $90.00 to $102.00 in a research report on Tuesday, April 11th. Royal Bank Of Canada reiterated a “buy” rating and set a $97.00 price objective on shares of Northern Trust Corporation in a research report on Wednesday, May 10th. Bank of America Corporation reiterated a “buy” rating and set a $98.00 price objective (up from $61.32) on shares of Northern Trust Corporation in a research report on Friday, May 26th. BidaskClub upgraded Northern Trust Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Finally, Zacks Investment Research upgraded Northern Trust Corporation from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock 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 given a strong buy rating to the company’s stock. Northern Trust Corporation has an average rating of “Hold” and an average target price of $94.50.

In other news, insider Steven L. Fradkin sold 14,700 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $89.23, for a total transaction of $1,311,681.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Susan Gillian Pembleton sold 9,793 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $88.29, for a total value of $864,623.97. The disclosure for this sale can be found here. Insiders have sold 179,436 shares of company stock worth $16,614,372 over the last three months. 1.27% of the stock is currently owned by insiders.

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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