Conning Inc. raised its position in Northern Trust Corporation (NASDAQ:NTRS) by 0.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,263 shares of the asset manager’s stock after buying an additional 50 shares during the period. Conning Inc.’s holdings in Northern Trust Corporation were worth $609,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Tdam USA Inc. boosted its stake 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 buying an additional 10 shares in the last quarter. Buckingham Asset Management LLC boosted its stake in shares of Northern Trust Corporation by 0.3% in the first quarter. Buckingham Asset Management LLC now owns 6,232 shares of the asset manager’s stock worth $540,000 after buying an additional 20 shares in the last quarter. Creative Planning boosted its stake 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 buying an additional 20 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake 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 buying an additional 21 shares in the last quarter. Finally, Bank of The West boosted its stake 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 buying an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 82.90% of the company’s stock.

Shares of Northern Trust Corporation (NASDAQ NTRS) opened at 89.48 on Thursday. The company has a market capitalization of $20.44 billion, a PE ratio of 20.31 and a beta of 0.92. The firm’s 50-day moving average is $92.05 and its 200-day moving average is $89.36. Northern Trust Corporation has a 12-month low of $66.39 and a 12-month high of $99.30.

Northern Trust Corporation (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, July 19th. The asset manager reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by $0.05. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. Northern Trust Corporation had a return on equity of 12.08% and a net margin of 20.21%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 earnings per share. On average, equities research analysts anticipate that Northern Trust Corporation will post $4.72 EPS for the current fiscal year.

The company also recently disclosed 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 of this dividend is Wednesday, August 30th. This is a positive change from Northern Trust Corporation’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a dividend yield of 1.88%. Northern Trust Corporation’s payout ratio is currently 34.55%.

Northern Trust Corporation announced that its Board of Directors has approved a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the asset manager to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

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A number of equities research analysts recently issued reports on the stock. BidaskClub upgraded shares of Northern Trust Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Royal Bank Of Canada reiterated a “buy” rating and issued a $97.00 price objective on shares of Northern Trust Corporation in a report on Thursday, June 29th. Jefferies Group LLC reiterated a “buy” rating and issued a $102.00 price objective on shares of Northern Trust Corporation in a report on Wednesday, May 17th. Buckingham Research reiterated a “neutral” rating and issued a $103.00 price objective (up from $93.00) on shares of Northern Trust Corporation in a report on Monday, July 10th. Finally, Zacks Investment Research cut shares of Northern Trust Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $94.15.

In other news, COO Jana R. Schreuder sold 5,538 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $88.33, for a total transaction of $489,171.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Vice Chairman William L. Morrison sold 25,000 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $87.28, for a total transaction of $2,182,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 192,736 shares of company stock worth $17,790,092 over the last 90 days. 1.27% of the stock is owned by company 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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