Northern Trust Corporation (NTRS) Stake Boosted by Flinton Capital Management LLC
Flinton Capital Management LLC lifted its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 35.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 85,568 shares of the asset manager’s stock after purchasing an additional 22,288 shares during the period. Flinton Capital Management LLC’s holdings in Northern Trust Corporation were worth $8,318,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of NTRS. Kings Point Capital Management bought a new stake in Northern Trust Corporation during the 1st quarter valued at approximately $101,000. Salem Investment Counselors Inc. grew its holdings in Northern Trust Corporation by 8.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 1,083 shares of the asset manager’s stock valued at $105,000 after buying an additional 83 shares during the last quarter. 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 valued at $106,000 after buying an additional 382 shares during the last quarter. Dupont Capital Management Corp acquired a new stake in Northern Trust Corporation in the 2nd quarter valued at approximately $107,000. Finally, 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 valued at $143,000 after buying an additional 211 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.
Several brokerages have commented on NTRS. Buckingham Research reaffirmed a “neutral” rating and issued a $103.00 price target (up from $93.00) on shares of Northern Trust Corporation in a research report on Monday, July 10th. BidaskClub raised Northern Trust Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 5th. Zacks Investment Research upgraded shares of Northern Trust Corporation from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research note on Wednesday, July 12th. Morgan Stanley restated an “underweight” rating and issued a $86.00 price objective (up previously from $80.00) on shares of Northern Trust Corporation in a research note on Friday, July 7th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $97.00 target price on shares of Northern Trust Corporation in a research report on Thursday, June 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $96.23.
Shares of Northern Trust Corporation (NASDAQ:NTRS) traded up 0.157% during trading on Wednesday, hitting $92.535. 182,996 shares of the stock were exchanged. The firm’s 50-day moving average is $89.24 and its 200 day moving average is $89.90. The company has a market cap of $21.14 billion, a P/E ratio of 21.007 and a beta of 0.93. Northern Trust Corporation has a 1-year low of $68.78 and a 1-year high of $99.30.
Northern Trust Corporation (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 19th. The asset manager reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $1.33 billion for 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 firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. Equities analysts forecast that Northern Trust Corporation will post $4.71 earnings per share for the current fiscal year.
Northern Trust Corporation declared that its Board of Directors has approved 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 purchase up to 3.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 1st were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Wednesday, August 30th. This is a boost from Northern Trust Corporation’s previous quarterly dividend of $0.38. Northern Trust Corporation’s payout ratio is presently 38.18%.
TRADEMARK VIOLATION NOTICE: “Northern Trust Corporation (NTRS) Stake Boosted by Flinton Capital Management LLC” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another site, it was illegally copied and republished in violation of US and international copyright and trademark law. The correct version of this article can be viewed at https://www.thecerbatgem.com/2017/10/04/northern-trust-corporation-ntrs-stake-boosted-by-flinton-capital-management-llc.html.
In other Northern Trust Corporation news, insider Teresa Parker sold 11,399 shares of Northern Trust Corporation stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $87.65, for a total value of $999,122.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert P. Browne sold 11,000 shares of Northern Trust Corporation stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $90.21, for a total transaction of $992,310.00. The disclosure for this sale can be found here. In the last three months, insiders sold 165,094 shares of company stock valued at $15,021,309. 1.27% of the stock is currently owned by company insiders.
Northern Trust Corporation 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).
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.