Seven Eight Capital LP lessened its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 77.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,701 shares of the asset manager’s stock after selling 5,900 shares during the quarter. Seven Eight Capital LP’s holdings in Northern Trust Corporation were worth $165,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Pennsylvania Trust Co raised its stake in shares of Northern Trust Corporation by 4.5% during the second quarter. Pennsylvania Trust Co now owns 45,615 shares of the asset manager’s stock worth $4,434,000 after purchasing an additional 1,945 shares during the last quarter. Boston Advisors LLC raised its stake in shares of Northern Trust Corporation by 6,051.0% during the second quarter. Boston Advisors LLC now owns 160,540 shares of the asset manager’s stock worth $15,606,000 after purchasing an additional 157,930 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Northern Trust Corporation by 4.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 675,307 shares of the asset manager’s stock worth $65,647,000 after purchasing an additional 26,164 shares during the last quarter. Eaton Vance Management raised its stake in shares of Northern Trust Corporation by 0.3% during the second quarter. Eaton Vance Management now owns 753,651 shares of the asset manager’s stock worth $73,262,000 after purchasing an additional 2,397 shares during the last quarter. Finally, National Pension Service raised its stake in shares of Northern Trust Corporation by 17.6% during the second quarter. National Pension Service now owns 211,118 shares of the asset manager’s stock worth $20,478,000 after purchasing an additional 31,558 shares during the last quarter. Institutional investors and hedge funds own 81.89% of the company’s stock.

Several equities research analysts have recently commented on the company. Buckingham Research restated a “neutral” rating and set a $103.00 price target (up previously from $93.00) on shares of Northern Trust Corporation in a research note on Monday, July 10th. BidaskClub upgraded Northern Trust Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 5th. Zacks Investment Research upgraded Northern Trust Corporation from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research note on Wednesday, July 12th. Morgan Stanley restated an “underweight” rating and set a $86.00 price target (up previously from $80.00) on shares of Northern Trust Corporation in a research note on Friday, July 7th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $97.00 price target on shares of Northern Trust Corporation in a research note on Thursday, June 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $94.57.

In other Northern Trust Corporation news, EVP Robert P. Browne sold 11,000 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $90.21, for a total transaction of $992,310.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen N. Potter sold 28,469 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $99.08, for a total value of $2,820,708.52. The disclosure for this sale can be found here. Insiders have sold a total of 84,563 shares of company stock valued at $7,814,018 in the last quarter. 1.27% of the stock is currently owned by insiders.

Northern Trust Corporation (NASDAQ:NTRS) opened at 88.58 on Wednesday. Northern Trust Corporation has a 52-week low of $66.40 and a 52-week high of $99.30. The stock has a market cap of $20.24 billion, a PE ratio of 20.11 and a beta of 0.92. The firm has a 50-day moving average price of $88.43 and a 200 day moving average price of $89.76.

Northern Trust Corporation (NASDAQ:NTRS) last announced 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 return on equity of 12.08% and a net margin of 20.21%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the firm posted $1.09 EPS. The company’s revenue was up .5% compared to the same quarter last year. Equities analysts anticipate that Northern Trust Corporation will post $4.72 earnings per share for the current year.

Northern Trust Corporation announced that its board has approved a share buyback program on Wednesday, June 28th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the asset manager to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 1st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Wednesday, August 30th. This is a positive change from Northern Trust Corporation’s previous quarterly dividend of $0.38. Northern Trust Corporation’s payout ratio is 38.18%.

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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.

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

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