Fox Run Management L.L.C. lessened its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 70.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,900 shares of the asset manager’s stock after selling 6,900 shares during the quarter. Fox Run Management L.L.C.’s holdings in Northern Trust Corporation were worth $267,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Northern Trust Corporation by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 14,255,623 shares of the asset manager’s stock worth $1,385,789,000 after acquiring an additional 363,691 shares in the last quarter. BlackRock Inc. grew its stake in shares of Northern Trust Corporation by 0.3% in the 2nd quarter. BlackRock Inc. now owns 13,318,550 shares of the asset manager’s stock worth $1,294,697,000 after acquiring an additional 38,780 shares in the last quarter. Northern Trust Corp grew its stake in shares of Northern Trust Corporation by 1.5% in the 2nd quarter. Northern Trust Corp now owns 12,414,424 shares of the asset manager’s stock worth $1,206,806,000 after acquiring an additional 184,112 shares in the last quarter. Burgundy Asset Management Ltd. grew its stake in shares of Northern Trust Corporation by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,373,551 shares of the asset manager’s stock worth $230,733,000 after acquiring an additional 32,849 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Northern Trust Corporation by 2.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,078,796 shares of the asset manager’s stock worth $202,200,000 after acquiring an additional 56,465 shares in the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

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Several analysts have recently issued reports on the stock. Buckingham Research reiterated a “neutral” rating and issued a $103.00 target price (up previously from $93.00) on shares of Northern Trust Corporation in a research note on Monday, July 10th. Zacks Investment Research upgraded shares of Northern Trust Corporation from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research note on Wednesday, July 12th. UBS AG upped their target price on shares of Northern Trust Corporation from $100.00 to $109.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. Morgan Stanley upped their target price on shares of Northern Trust Corporation from $83.00 to $91.00 and gave the stock an “underweight” rating in a research note on Thursday, October 19th. Finally, Bank of America Corporation set a $102.00 target price on shares of Northern Trust Corporation and gave the stock a “buy” rating in a research note on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $97.07.

In other Northern Trust Corporation news, COO Jana R. Schreuder sold 5,538 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $88.33, for a total transaction of $489,171.54. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Frederick H. Waddell sold 177,964 shares of the company’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $95.64, for a total transaction of $17,020,476.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 351,382 shares of company stock worth $32,908,051. Insiders own 1.27% of the company’s stock.

Northern Trust Corporation (NASDAQ NTRS) opened at $94.39 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.37. The firm has a market cap of $21,466.27, a PE ratio of 20.61, a P/E/G ratio of 2.08 and a beta of 0.96. Northern Trust Corporation has a fifty-two week low of $71.94 and a fifty-two week high of $99.30.

Northern Trust Corporation (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, October 18th. The asset manager reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.08. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Northern Trust Corporation had a net margin of 20.27% and a return on equity of 12.33%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.11 EPS. analysts predict that Northern Trust Corporation will post 4.68 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 1st will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 30th. Northern Trust Corporation’s dividend payout ratio (DPR) is presently 37.17%.

Northern Trust Corporation announced that its board has approved a stock buyback plan on Tuesday, July 18th that allows the company to buyback 9,500,000 outstanding shares. This buyback authorization allows the asset manager to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are 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.

Institutional Ownership by Quarter for Northern Trust Corporation (NASDAQ:NTRS)

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