Chicago Equity Partners LLC lowered its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 3.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 64,565 shares of the asset manager’s stock after selling 2,035 shares during the period. Chicago Equity Partners LLC’s holdings in Northern Trust Corporation were worth $6,276,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake 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 valued at $1,149,760,000 after buying an additional 12,817,363 shares in the last quarter. FMR LLC raised its stake 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 valued at $1,071,060,000 after buying an additional 3,430,332 shares in the last quarter. Findlay Park Partners LLP raised its stake 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 in the last quarter. Primecap Management Co. CA raised its stake in shares of Northern Trust Corporation by 30.2% in the first quarter. Primecap Management Co. CA now owns 2,553,950 shares of the asset manager’s stock valued at $221,121,000 after buying an additional 592,550 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake 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 valued at $1,202,764,000 after buying an additional 527,025 shares in the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.

Northern Trust Corporation (NASDAQ NTRS) opened at 88.96 on Friday. Northern Trust Corporation has a 1-year low of $66.39 and a 1-year high of $99.30. The firm has a 50-day moving average price of $89.15 and a 200-day moving average price of $89.71. The firm has a market cap of $20.33 billion, a price-to-earnings ratio of 20.20 and a beta of 0.92.

Northern Trust Corporation (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 19th. The asset manager reported $1.18 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 quarter last year, the business earned $1.09 EPS. Northern Trust Corporation’s revenue was up .5% on a year-over-year basis. On average, analysts expect that Northern Trust Corporation will post $4.72 earnings per share for the current fiscal year.

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

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 1st will be paid a $0.42 dividend. This is a positive change from Northern Trust Corporation’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.68 annualized dividend and a dividend yield of 1.89%. Northern Trust Corporation’s dividend payout ratio (DPR) is presently 38.18%.

ILLEGAL ACTIVITY NOTICE: “Chicago Equity Partners LLC Reduces Position in Northern Trust Corporation (NTRS)” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://www.thecerbatgem.com/2017/09/02/chicago-equity-partners-llc-reduces-position-in-northern-trust-corporation-ntrs.html.

NTRS has been the topic of several recent analyst reports. Deutsche Bank AG decreased their price target on Northern Trust Corporation from $103.00 to $93.00 and set a “hold” rating on the stock in a research note on Thursday, July 20th. Morgan Stanley reaffirmed an “underweight” rating and issued a $86.00 price target (up previously from $80.00) on shares of Northern Trust Corporation in a research note on Friday, July 7th. Bank of America Corporation decreased their price target 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 lowered 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 reaffirmed a “buy” rating and issued a $97.00 price target on shares of Northern Trust Corporation in a research note on Thursday, June 29th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $94.15.

In other news, EVP Aileen B. Blake sold 7,762 shares of Northern Trust Corporation 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven L. Fradkin sold 14,700 shares of Northern Trust Corporation stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $89.23, for a total value of $1,311,681.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 172,757 shares of company stock worth $16,067,335. Corporate insiders own 1.27% of the company’s stock.

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.

Want to see what other hedge funds are holding NTRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northern Trust Corporation (NASDAQ:NTRS).

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

Receive News & Stock Ratings for Northern Trust Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Trust Corporation and related stocks with our FREE daily email newsletter.