Tredje AP fonden Cuts Position in Northern Trust Corporation (NTRS)
Tredje AP fonden reduced its position in Northern Trust Corporation (NASDAQ:NTRS) by 10.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,370 shares of the asset manager’s stock after selling 1,847 shares during the quarter. Tredje AP fonden’s holdings in Northern Trust Corporation were worth $1,598,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of NTRS. Kings Point Capital Management purchased a new position in Northern Trust Corporation in the first quarter valued at about $101,000. Huntington National Bank raised its position in Northern Trust Corporation by 54.0% in the second quarter. Huntington National Bank now owns 1,089 shares of the asset manager’s stock valued at $106,000 after purchasing an additional 382 shares during the period. Dupont Capital Management Corp purchased a new position in Northern Trust Corporation in the second quarter valued at about $107,000. Bessemer Group Inc. raised its position in Northern Trust Corporation by 16.9% in the second quarter. Bessemer Group Inc. now owns 1,461 shares of the asset manager’s stock valued at $143,000 after purchasing an additional 211 shares during the period. Finally, Atria Investments LLC purchased a new position in Northern Trust Corporation in the second quarter valued at about $200,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.
In other Northern Trust Corporation news, insider Stephen N. Potter sold 28,469 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $99.08, for a total transaction of $2,820,708.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Teresa Parker sold 11,399 shares of the business’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $87.65, for a total transaction of $999,122.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,092 shares of company stock valued at $10,899,490. Company insiders own 1.27% of the company’s stock.
NTRS has been the topic of several research reports. Wells Fargo & Company initiated coverage on Northern Trust Corporation in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $90.00 price objective on the stock. BidaskClub lowered Northern Trust Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research raised 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. Buckingham Research reissued a “neutral” rating and issued a $103.00 price objective (up from $93.00) on shares of Northern Trust Corporation in a research report on Monday, July 10th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $97.00 price objective on shares of Northern Trust Corporation in a research report on Thursday, June 29th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $94.57.
Shares of Northern Trust Corporation (NASDAQ NTRS) opened at 90.03 on Tuesday. The stock’s 50 day moving average price is $88.23 and its 200 day moving average price is $89.73. Northern Trust Corporation has a 52 week low of $66.39 and a 52 week high of $99.30. The firm has a market capitalization of $20.57 billion, a P/E ratio of 20.44 and a beta of 0.92.
Northern Trust Corporation (NASDAQ:NTRS) last released its earnings results on Wednesday, July 19th. The asset manager reported $1.18 earnings per share for the quarter, missing the Zacks’ 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 was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 EPS. On average, analysts predict that Northern Trust Corporation will post $4.73 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 1st will be given a dividend of $0.42 per share. This is a positive change from Northern Trust Corporation’s previous quarterly dividend of $0.38. The ex-dividend date is Wednesday, August 30th. This represents a $1.68 dividend on an annualized basis and a yield of 1.87%. Northern Trust Corporation’s payout ratio is currently 38.18%.
Northern Trust Corporation declared that its board has authorized a share buyback program on Wednesday, June 28th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the asset manager to buy up to 3.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
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.
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.