Northern Trust Corporation (NTRS) Shares Sold by Dana Investment Advisors Inc.
Dana Investment Advisors Inc. trimmed its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 16.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,243 shares of the asset manager’s stock after selling 6,347 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Northern Trust Corporation were worth $3,134,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of NTRS. Kings Point Capital Management bought a new position in Northern Trust Corporation during the 1st quarter valued at $101,000. Salem Investment Counselors Inc. boosted its stake in Northern Trust Corporation by 8.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 1,083 shares of the asset manager’s stock valued at $105,000 after acquiring an additional 83 shares during the last quarter. Huntington National Bank boosted its stake in Northern Trust Corporation by 54.0% during the 2nd quarter. Huntington National Bank now owns 1,089 shares of the asset manager’s stock valued at $106,000 after acquiring an additional 382 shares during the last quarter. Dupont Capital Management Corp bought a new position in Northern Trust Corporation during the 2nd quarter valued at $107,000. Finally, Bessemer Group Inc. boosted its stake in Northern Trust Corporation by 16.9% during the 2nd quarter. Bessemer Group Inc. now owns 1,461 shares of the asset manager’s stock valued at $143,000 after acquiring an additional 211 shares during the last quarter. Hedge funds and other institutional investors own 81.90% of the company’s stock.
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A number of research firms have commented on NTRS. Zacks Investment Research upgraded shares of Northern Trust Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. BidaskClub upgraded shares of Northern Trust Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Wells Fargo & Company assumed coverage on shares of Northern Trust Corporation in a research note on Wednesday, August 9th. They set a “market perform” rating and a $90.00 price objective on the stock. Buckingham Research restated 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. Finally, Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $86.00 price target (down from $91.00) on shares of Northern Trust Corporation in a research report on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $96.23.
In related news, insider Teresa Parker sold 11,399 shares of Northern Trust Corporation stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $87.65, for a total value of $999,122.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Aileen B. Blake sold 1,000 shares of Northern Trust Corporation stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $92.00, for a total value of $92,000.00. The disclosure for this sale can be found here. Insiders sold 165,094 shares of company stock valued at $15,021,309 over the last ninety days. 1.27% of the stock is currently owned by company insiders.
Northern Trust Corporation (NASDAQ NTRS) remained flat at $92.97 during trading on Friday. 201,143 shares of the stock were exchanged. The firm has a market capitalization of $21.24 billion, a P/E ratio of 21.11 and a beta of 0.93. The stock’s 50 day moving average is $89.42 and its 200 day moving average is $89.93. Northern Trust Corporation has a 52 week low of $68.78 and a 52 week high of $99.30.
Northern Trust Corporation (NASDAQ:NTRS) last released its quarterly 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 net margin of 20.21% and a return on equity of 12.08%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the firm earned $1.09 earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year. On average, analysts expect that Northern Trust Corporation will post $4.71 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Friday, September 1st were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.81%. This is a boost from Northern Trust Corporation’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Wednesday, August 30th. Northern Trust Corporation’s payout ratio is currently 38.18%.
Northern Trust Corporation announced that its Board of Directors has authorized a stock 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 repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
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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