Bp Plc Has $2.30 Million Holdings in Northern Trust Corporation (NTRS)
Bp Plc cut its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 51.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,000 shares of the asset manager’s stock after selling 26,000 shares during the quarter. Bp Plc’s holdings in Northern Trust Corporation were worth $2,298,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of NTRS. Salem Investment Counselors Inc. raised its holdings in shares of Northern Trust Corporation by 8.3% in the second 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 raised its holdings in shares of Northern Trust Corporation by 54.0% in the second 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 bought a new position in shares of Northern Trust Corporation in the second quarter valued at about $107,000. MPS Loria Financial Planners LLC bought a new position in shares of Northern Trust Corporation in the second quarter valued at about $134,000. Finally, Bessemer Group Inc. raised its holdings in shares of Northern Trust Corporation by 16.9% in the second 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. 81.90% of the stock is owned by institutional investors.
A number of research firms recently issued reports on NTRS. Bank of America Corporation set a $102.00 price target on Northern Trust Corporation and gave the company a “buy” rating in a report on Thursday, October 19th. Morgan Stanley lifted their price target on Northern Trust Corporation from $83.00 to $91.00 and gave the company an “underweight” rating in a report on Thursday, October 19th. Buckingham Research lifted their price target on Northern Trust Corporation from $95.00 to $97.00 and gave the company a “neutral” rating in a report on Thursday, October 19th. UBS AG lifted their price target on Northern Trust Corporation from $100.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Finally, Zacks Investment Research cut Northern Trust Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Northern Trust Corporation has a consensus rating of “Hold” and a consensus target price of $97.07.
In other news, Chairman Frederick H. Waddell sold 100,000 shares of the firm’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 $9,200,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman William L. Morrison sold 11,058 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $94.34, for a total value of $1,043,211.72. The disclosure for this sale can be found here. Insiders have sold 351,382 shares of company stock valued at $32,908,051 over the last 90 days. 1.27% of the stock is owned by corporate insiders.
Northern Trust Corporation (NASDAQ:NTRS) last posted its earnings results on Wednesday, October 18th. The asset manager reported $1.20 EPS for the quarter, beating the consensus estimate of $1.12 by $0.08. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Northern Trust Corporation had a return on equity of 12.33% and a net margin of 20.27%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the company earned $1.11 earnings per share.
Northern Trust Corporation declared that its Board of Directors has initiated a share buyback program on Tuesday, July 18th that authorizes the company to buyback 9,500,000 shares. This buyback authorization authorizes the asset manager to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 1st will be given a $0.42 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.68 annualized dividend and a yield of 1.79%. Northern Trust Corporation’s dividend payout ratio is presently 37.17%.
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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