Northern Trust Corporation (NTRS) Holdings Raised by Parametric Portfolio Associates LLC
Parametric Portfolio Associates LLC boosted its position in Northern Trust Corporation (NASDAQ:NTRS) by 21.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 354,316 shares of the asset manager’s stock after acquiring an additional 61,443 shares during the period. Parametric Portfolio Associates LLC owned 0.16% of Northern Trust Corporation worth $34,443,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Huntington National Bank grew its holdings in Northern Trust Corporation by 54.0% in the 2nd quarter. Huntington National Bank now owns 1,089 shares of the asset manager’s stock worth $106,000 after acquiring an additional 382 shares during the last quarter. Dupont Capital Management Corp bought a new stake in Northern Trust Corporation in the 2nd quarter worth $107,000. Kings Point Capital Management bought a new stake in Northern Trust Corporation in the 1st quarter worth $101,000. Bessemer Group Inc. grew its holdings in Northern Trust Corporation by 16.9% in the 2nd quarter. Bessemer Group Inc. now owns 1,461 shares of the asset manager’s stock worth $143,000 after acquiring an additional 211 shares during the last quarter. Finally, Atria Investments LLC bought a new stake in Northern Trust Corporation in the 2nd quarter worth $200,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.
In other news, Chairman Frederick H. Waddell sold 100,000 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $92.00, for a total value of $9,200,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Aileen B. Blake sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $92.00, for a total transaction of $92,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 193,563 shares of company stock worth $17,842,018. Company insiders own 1.27% of the company’s stock.
A number of equities research analysts have issued reports on NTRS shares. Bank of America Corporation cut their price target on shares of Northern Trust Corporation from $106.00 to $97.00 and set a “buy” rating on the stock in a report on Thursday, July 20th. BidaskClub lowered shares of Northern Trust Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research raised shares of Northern Trust Corporation from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a report on Wednesday, July 12th. Royal Bank Of Canada reissued a “buy” rating and issued a $97.00 price target on shares of Northern Trust Corporation in a report on Thursday, June 29th. Finally, UBS AG raised shares of Northern Trust Corporation from a “neutral” rating to a “buy” rating and raised their price target for the stock from $92.00 to $100.00 in a report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $96.23.
Shares of Northern Trust Corporation (NASDAQ:NTRS) opened at 91.93 on Friday. The stock has a market capitalization of $21.00 billion, a PE ratio of 20.87 and a beta of 0.92. The stock has a 50 day moving average of $88.43 and a 200 day moving average of $89.76. Northern Trust Corporation has a 52-week low of $66.40 and a 52-week high of $99.30.
Northern Trust Corporation (NASDAQ:NTRS) last posted its quarterly earnings results 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). The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. Northern Trust Corporation had a return on equity of 12.08% and a net margin of 20.21%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.09 earnings per share. Analysts forecast that Northern Trust Corporation will post $4.71 earnings per share for the current year.
Northern Trust Corporation declared that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the asset manager to repurchase up to 3.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 1st will be issued a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This is a boost from Northern Trust Corporation’s previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.83%. Northern Trust Corporation’s dividend payout ratio is presently 38.18%.
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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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