Northern Trust Corporation (NTRS) Holdings Trimmed by FNY Partners Fund LP
FNY Partners Fund LP cut its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 6.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,000 shares of the asset manager’s stock after selling 285 shares during the period. FNY Partners Fund LP’s holdings in Northern Trust Corporation were worth $388,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Northern Trust Corporation by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 13,891,932 shares of the asset manager’s stock valued at $1,202,764,000 after acquiring an additional 527,025 shares in the last quarter. BlackRock Inc. lifted its stake in Northern Trust Corporation by 2,771.9% during the 1st quarter. BlackRock Inc. now owns 13,279,770 shares of the asset manager’s stock valued at $1,149,760,000 after acquiring an additional 12,817,363 shares in the last quarter. FMR LLC lifted its stake in Northern Trust Corporation by 38.4% during the 1st quarter. FMR LLC now owns 12,370,754 shares of the asset manager’s stock valued at $1,071,060,000 after acquiring an additional 3,430,332 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Northern Trust Corporation by 0.8% during the 1st quarter. JPMorgan Chase & Co. now owns 8,226,919 shares of the asset manager’s stock valued at $712,287,000 after acquiring an additional 68,263 shares in the last quarter. Finally, Findlay Park Partners LLP lifted its stake in Northern Trust Corporation by 82.8% during the 1st quarter. Findlay Park Partners LLP now owns 2,742,643 shares of the asset manager’s stock valued at $237,458,000 after acquiring an additional 1,242,643 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.
In other Northern Trust Corporation news, insider Stephen N. Potter sold 28,469 shares of the company’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $99.08, for a total value of $2,820,708.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Aileen B. Blake sold 7,762 shares of the company’s stock in a transaction dated 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. In the last 90 days, insiders sold 116,092 shares of company stock valued at $10,899,490. Company insiders own 1.27% of the company’s stock.
Several equities analysts have weighed in on NTRS shares. Royal Bank Of Canada restated a “buy” rating and set a $97.00 price objective on shares of Northern Trust Corporation in a research note on Friday, August 18th. Credit Suisse Group restated a “hold” rating and set a $90.00 price objective on shares of Northern Trust Corporation in a research note on Sunday, May 28th. Morgan Stanley dropped their price objective on Northern Trust Corporation from $86.00 to $83.00 and set an “underweight” rating on the stock in a research note on Thursday, July 20th. BidaskClub cut Northern Trust Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Zacks Investment Research cut Northern Trust Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Northern Trust Corporation currently has an average rating of “Hold” and an average price target of $94.57.
Shares of Northern Trust Corporation (NASDAQ NTRS) traded up 1.28% during midday trading on Tuesday, reaching $91.18. The company had a trading volume of 186,658 shares. Northern Trust Corporation has a 1-year low of $66.39 and a 1-year high of $99.30. The stock has a market capitalization of $20.83 billion, a PE ratio of 20.70 and a beta of 0.92. The company’s 50-day moving average is $88.23 and its 200-day moving average is $89.73.
Northern Trust Corporation (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, July 19th. The asset manager reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Northern Trust Corporation had a return on equity of 12.08% and a net margin of 20.21%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.09 EPS. On average, equities research analysts forecast that Northern Trust Corporation will post $4.73 EPS for the current year.
Northern Trust Corporation announced that its board has initiated a stock repurchase program on Wednesday, June 28th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the asset manager to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 1st will be given a $0.42 dividend. This is a boost 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 dividend on an annualized basis and a yield of 1.87%. Northern Trust Corporation’s dividend payout ratio is presently 38.18%.
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.
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