Strs Ohio Purchases 4,908 Shares of Northern Trust Corporation (NASDAQ:NTRS)
Strs Ohio boosted its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 30.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,093 shares of the asset manager’s stock after buying an additional 4,908 shares during the period. Strs Ohio’s holdings in Northern Trust Corporation were worth $2,050,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Northern Trust Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 13,891,932 shares of the asset manager’s stock valued at $1,202,764,000 after buying an additional 527,025 shares during the period. BlackRock Inc. raised its position in Northern Trust Corporation by 2,771.9% in the first quarter. BlackRock Inc. now owns 13,279,770 shares of the asset manager’s stock valued at $1,149,760,000 after buying an additional 12,817,363 shares during the period. FMR LLC raised its position in Northern Trust Corporation by 38.4% in the first quarter. FMR LLC now owns 12,370,754 shares of the asset manager’s stock valued at $1,071,060,000 after buying an additional 3,430,332 shares during the period. JPMorgan Chase & Co. raised its position in Northern Trust Corporation by 0.8% in the first quarter. JPMorgan Chase & Co. now owns 8,226,919 shares of the asset manager’s stock valued at $712,287,000 after buying an additional 68,263 shares during the period. Finally, Findlay Park Partners LLP raised its position in Northern Trust Corporation by 82.8% in the first quarter. Findlay Park Partners LLP now owns 2,742,643 shares of the asset manager’s stock valued at $237,458,000 after buying an additional 1,242,643 shares during the period. 83.48% of the stock is owned by hedge funds and other institutional investors.
Shares of Northern Trust Corporation (NASDAQ NTRS) opened at 87.20 on Friday. The firm’s 50-day moving average is $92.73 and its 200 day moving average is $89.18. The firm has a market cap of $19.92 billion, a PE ratio of 19.80 and a beta of 0.92. Northern Trust Corporation has a 52 week low of $66.40 and a 52 week high of $99.30.
Northern Trust Corporation (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, July 19th. The asset manager reported $1.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 return on equity of 12.08% and a net margin of 20.21%. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. Equities research analysts forecast that Northern Trust Corporation will post $4.72 EPS for the current year.
Northern Trust Corporation declared that its Board of Directors has authorized 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 reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 1st will be given a $0.42 dividend. This is a boost from Northern Trust Corporation’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.68 annualized dividend and a yield of 1.93%. Northern Trust Corporation’s dividend payout ratio is presently 34.55%.
NTRS has been the subject of several recent research reports. Wells Fargo & Company initiated coverage on shares of Northern Trust Corporation in a report on Wednesday. They set a “market perform” rating and a $90.00 target price for the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $97.00 target price on shares of Northern Trust Corporation in a report on Wednesday, May 10th. BidaskClub lowered shares of Northern Trust Corporation from a “hold” rating to a “sell” rating in a report 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 target for the company in a report on Wednesday, July 12th. Finally, Buckingham Research reissued a “neutral” rating and issued a $103.00 price target (up previously from $93.00) on shares of Northern Trust Corporation in a report on Monday, July 10th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Northern Trust Corporation currently has a consensus rating of “Hold” and a consensus target price of $94.15.
In other Northern Trust Corporation news, EVP Susan Gillian Pembleton sold 9,793 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $88.29, for a total value of $864,623.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman William L. Morrison sold 25,000 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $87.28, for a total value of $2,182,000.00. The disclosure for this sale can be found here. Insiders sold 184,974 shares of company stock valued at $17,103,543 in the last quarter. 1.27% of the stock is currently owned by company insiders.
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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