HighTower Advisors LLC Raises Holdings in Northern Trust Corporation (NTRS)
HighTower Advisors LLC raised its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 15.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,023 shares of the asset manager’s stock after buying an additional 3,097 shares during the period. HighTower Advisors LLC’s holdings in Northern Trust Corporation were worth $2,249,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. PDT Partners LLC boosted its stake in shares of Northern Trust Corporation by 10.3% during the 2nd quarter. PDT Partners LLC now owns 254,907 shares of the asset manager’s stock valued at $24,780,000 after buying an additional 23,907 shares during the period. Balyasny Asset Management LLC lifted its stake in shares of Northern Trust Corporation by 1.2% in the 2nd quarter. Balyasny Asset Management LLC now owns 323,035 shares of the asset manager’s stock valued at $31,402,000 after purchasing an additional 3,855 shares during the last quarter. Junto Capital Management LP lifted its stake in shares of Northern Trust Corporation by 74.0% in the 2nd quarter. Junto Capital Management LP now owns 308,036 shares of the asset manager’s stock valued at $29,944,000 after purchasing an additional 130,986 shares during the last quarter. QS Investors LLC lifted its stake in shares of Northern Trust Corporation by 38.1% in the 2nd quarter. QS Investors LLC now owns 4,013 shares of the asset manager’s stock valued at $390,000 after purchasing an additional 1,107 shares during the last quarter. Finally, Cutler Investment Counsel LLC lifted its stake in shares of Northern Trust Corporation by 1.5% in the 2nd quarter. Cutler Investment Counsel LLC now owns 75,365 shares of the asset manager’s stock valued at $7,326,000 after purchasing an additional 1,142 shares during the last quarter. 81.90% of the stock is owned by institutional investors.
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In other Northern Trust Corporation news, EVP Aileen B. Blake sold 7,762 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $88.45, for a total value of $686,548.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Teresa Parker sold 8,000 shares of the stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $92.00, for a total transaction of $736,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 165,094 shares of company stock valued at $15,021,309. Corporate insiders own 1.27% of the company’s stock.
Northern Trust Corporation (NASDAQ:NTRS) opened at 93.27 on Friday. Northern Trust Corporation has a one year low of $68.78 and a one year high of $99.30. The company has a 50-day moving average of $89.59 and a 200 day moving average of $89.97. The company has a market cap of $21.31 billion, a P/E ratio of 21.17 and a beta of 0.93.
Northern Trust Corporation (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, July 19th. The asset manager reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. Northern Trust Corporation had a net margin of 20.21% and a return on equity of 12.08%. The business’s revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 EPS. Equities research analysts predict that Northern Trust Corporation will post $4.71 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Friday, September 1st were paid a $0.42 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $1.68 dividend on an annualized basis and a yield of 1.80%. This is a boost from Northern Trust Corporation’s previous quarterly dividend of $0.38. Northern Trust Corporation’s dividend payout ratio (DPR) is currently 38.18%.
Northern Trust Corporation announced that its Board of Directors has approved a share repurchase plan on Wednesday, June 28th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the asset manager to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Several equities research analysts recently issued reports on NTRS shares. Wells Fargo & Company started coverage on shares of Northern Trust Corporation in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $90.00 price objective for the company. BidaskClub lowered shares of Northern Trust Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised shares of Northern Trust Corporation from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Wednesday, July 12th. Buckingham Research reaffirmed a “neutral” rating and issued a $103.00 price objective (up previously from $93.00) on shares of Northern Trust Corporation in a research note on Monday, July 10th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $97.00 price objective on shares of Northern Trust Corporation in a research note on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $96.23.
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.
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