Northern Trust Corporation (NTRS) Shares Sold by Mitsubishi UFJ Trust & Banking Corp
Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 436,199 shares of the asset manager’s stock after selling 732 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.19% of Northern Trust Corporation worth $42,403,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of NTRS. Great West Life Assurance Co. Can increased its position in Northern Trust Corporation by 1.8% in the first quarter. Great West Life Assurance Co. Can now owns 342,337 shares of the asset manager’s stock valued at $29,635,000 after buying an additional 6,151 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its position in Northern Trust Corporation by 1.1% in the first quarter. Kornitzer Capital Management Inc. KS now owns 130,054 shares of the asset manager’s stock valued at $11,260,000 after buying an additional 1,357 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Northern Trust Corporation by 3.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 34,497 shares of the asset manager’s stock valued at $2,987,000 after buying an additional 1,273 shares during the last quarter. Advisory Services Network LLC acquired a new position in Northern Trust Corporation during the first quarter valued at $117,000. Finally, Advisor Partners LLC increased its position in Northern Trust Corporation by 26.5% in the first quarter. Advisor Partners LLC now owns 4,310 shares of the asset manager’s stock valued at $373,000 after buying an additional 902 shares during the last quarter. Institutional investors own 81.91% of the company’s stock.
Northern Trust Corporation (NASDAQ:NTRS) opened at 88.54 on Wednesday. The stock has a market capitalization of $20.23 billion, a PE ratio of 20.10 and a beta of 0.92. Northern Trust Corporation has a 52 week low of $66.39 and a 52 week high of $99.30. The firm has a 50 day moving average of $90.47 and a 200-day moving average of $89.58.
Northern Trust Corporation (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, July 19th. The asset manager reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by $0.05. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Northern Trust Corporation had a net margin of 20.21% and a return on equity of 12.08%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 EPS. On average, equities analysts predict that Northern Trust Corporation will post $4.72 EPS for the current year.
Northern Trust Corporation announced that its Board of Directors has initiated a share 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 buy up to 3.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 1st will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.90%. This is a boost from Northern Trust Corporation’s previous quarterly dividend of $0.38. Northern Trust Corporation’s payout ratio is presently 34.55%.
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Several research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Northern Trust Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. BidaskClub downgraded shares of Northern Trust Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Bank of America Corporation restated a “buy” rating and set a $98.00 price objective (up from $61.32) on shares of Northern Trust Corporation in a research report on Friday, May 26th. Royal Bank Of Canada restated a “buy” rating and set a $97.00 price objective on shares of Northern Trust Corporation in a research report on Friday, August 18th. Finally, Credit Suisse Group restated a “hold” rating and set a $90.00 price objective on shares of Northern Trust Corporation in a research report on Monday, May 15th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $94.15.
In other news, Vice Chairman William L. Morrison sold 41,965 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $91.89, for a total transaction of $3,856,163.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven L. Fradkin sold 14,700 shares of the business’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $89.23, for a total value of $1,311,681.00. The disclosure for this sale can be found here. Insiders have sold a total of 172,757 shares of company stock valued at $16,067,335 in the last quarter. Company insiders own 1.27% of the company’s stock.
Northern Trust Corporation Company 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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