Teachers Retirement System of The State of Kentucky reduced its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 1.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 63,805 shares of the asset manager’s stock after selling 1,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Northern Trust Corporation were worth $6,202,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pennsylvania Trust Co boosted its stake in shares of Northern Trust Corporation by 4.5% during the 2nd quarter. Pennsylvania Trust Co now owns 45,615 shares of the asset manager’s stock worth $4,434,000 after acquiring an additional 1,945 shares during the period. Boston Advisors LLC boosted its stake in shares of Northern Trust Corporation by 6,051.0% during the 2nd quarter. Boston Advisors LLC now owns 160,540 shares of the asset manager’s stock worth $15,606,000 after acquiring an additional 157,930 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Northern Trust Corporation by 4.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 675,307 shares of the asset manager’s stock worth $65,647,000 after acquiring an additional 26,164 shares during the period. Eaton Vance Management boosted its stake in shares of Northern Trust Corporation by 0.3% during the 2nd quarter. Eaton Vance Management now owns 753,651 shares of the asset manager’s stock worth $73,262,000 after acquiring an additional 2,397 shares during the period. Finally, National Pension Service boosted its stake in shares of Northern Trust Corporation by 17.6% during the 2nd quarter. National Pension Service now owns 211,118 shares of the asset manager’s stock worth $20,478,000 after acquiring an additional 31,558 shares during the period. Institutional investors own 81.90% of the company’s stock.

In other Northern Trust Corporation news, COO Jana R. Schreuder sold 5,581 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $90.00, for a total value of $502,290.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert P. Browne sold 11,000 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $90.21, for a total value of $992,310.00. The disclosure for this sale can be found here. Insiders sold 84,563 shares of company stock valued at $7,814,018 over the last three months. Company insiders own 1.27% of the company’s stock.

Shares of Northern Trust Corporation (NASDAQ NTRS) opened at 91.68 on Thursday. The company has a market capitalization of $20.95 billion, a P/E ratio of 20.81 and a beta of 0.92. Northern Trust Corporation has a 1-year low of $66.40 and a 1-year high of $99.30. The company has a 50-day moving average price of $88.43 and a 200 day moving average price of $89.76.

Northern Trust Corporation (NASDAQ:NTRS) last released its earnings results on Wednesday, July 19th. The asset manager reported $1.18 earnings per share (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 firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the prior year, the business earned $1.09 earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year. Equities research analysts anticipate that Northern Trust Corporation will post $4.71 EPS for the current year.

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

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 $0.42 dividend. This is an increase 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 1.83%. The ex-dividend date is Wednesday, August 30th. Northern Trust Corporation’s dividend payout ratio (DPR) is currently 38.18%.

Several brokerages have recently commented on NTRS. Zacks Investment Research upgraded Northern Trust Corporation from a “sell” rating to a “hold” rating in a research note on Monday. UBS AG upgraded Northern Trust Corporation from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $92.00 to $100.00 in a research note on Friday, September 8th. Royal Bank Of Canada reiterated a “buy” rating and set a $97.00 target price on shares of Northern Trust Corporation in a research note on Friday, August 18th. BidaskClub upgraded Northern Trust Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Finally, Wells Fargo & Company began coverage on Northern Trust Corporation in a research note on Wednesday, August 9th. They set a “market perform” rating and a $90.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $96.23.

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

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