Northern Trust Corporation (NTRS) Shares Sold by NN Investment Partners Holdings N.V.
NN Investment Partners Holdings N.V. decreased its stake in Northern Trust Corporation (NASDAQ:NTRS) by 12.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,693 shares of the asset manager’s stock after selling 985 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Northern Trust Corporation were worth $650,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Trust Department MB Financial Bank N A raised its position 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 period. Kings Point Capital Management purchased a new position in Northern Trust Corporation during the first quarter valued at approximately $101,000. Advisory Services Network LLC purchased a new position in Northern Trust Corporation during the first quarter valued at approximately $117,000. Jolley Asset Management LLC raised its position 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 period. Finally, Atria Investments LLC purchased a new position in Northern Trust Corporation during the second quarter valued at approximately $200,000. 82.90% of the stock is currently owned by institutional investors and hedge funds.
Northern Trust Corporation (NTRS) traded up 0.57% during mid-day trading on Friday, hitting $87.93. The company had a trading volume of 1,149,151 shares. The stock’s 50 day moving average price is $91.52 and its 200 day moving average price is $89.38. Northern Trust Corporation has a 52-week low of $66.40 and a 52-week high of $99.30. The firm has a market cap of $20.09 billion, a P/E ratio of 19.96 and a beta of 0.92.
Northern Trust Corporation (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, July 19th. The asset manager reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by $0.05. The firm 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%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.09 earnings per share. On average, equities research analysts predict that Northern Trust Corporation will post $4.72 EPS for the current fiscal year.
The company also recently declared 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 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 yield of 1.91%. The ex-dividend date is Wednesday, August 30th. Northern Trust Corporation’s dividend payout ratio (DPR) is presently 34.55%.
Northern Trust Corporation announced that its board has authorized 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 repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
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NTRS has been the topic of several research analyst reports. Deutsche Bank AG cut their price target on Northern Trust Corporation from $103.00 to $93.00 and set a “hold” rating on the stock in a research report on Thursday, July 20th. Morgan Stanley reaffirmed an “underweight” rating and set a $86.00 price target (up previously from $80.00) on shares of Northern Trust Corporation in a research report on Friday, July 7th. Bank of America Corporation lowered their target price on Northern Trust Corporation from $106.00 to $97.00 and set a “buy” rating on the stock in a research note on Thursday, July 20th. BidaskClub downgraded Northern Trust Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $94.15.
In other news, EVP Susan Gillian Pembleton sold 9,793 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $88.29, for a total transaction of $864,623.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Aileen B. Blake sold 7,762 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $88.45, for a total value of $686,548.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 167,736 shares of company stock valued at $15,608,092. 1.27% of the stock is currently owned by corporate 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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