UMB Bank N A MO Boosts Position in Northern Trust Corporation (NASDAQ:NTRS)
UMB Bank N A MO increased its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 9.3% during the second quarter, Holdings Channel reports. The firm owned 23,423 shares of the asset manager’s stock after buying an additional 1,991 shares during the period. UMB Bank N A MO’s holdings in Northern Trust Corporation were worth $2,277,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTRS. Huntington National Bank raised its position in 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 period. Kings Point Capital Management bought a new position in Northern Trust Corporation during the first quarter valued at approximately $101,000. Trust Department MB Financial Bank N A raised its position in Northern Trust Corporation by 6.5% in the first quarter. Trust Department MB Financial Bank N A now owns 1,172 shares of the asset manager’s stock valued at $101,000 after buying an additional 72 shares during the period. Advisory Services Network LLC bought a new position in Northern Trust Corporation during the first quarter valued at approximately $117,000. Finally, Bessemer Group Inc. raised its position in 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 period. 83.48% of the stock is currently owned by institutional investors.
Shares of Northern Trust Corporation (NTRS) opened at 87.15 on Friday. The company has a market capitalization of $19.91 billion, a PE ratio of 19.78 and a beta of 0.92. The company has a 50-day moving average of $92.53 and a 200-day moving average of $89.21. Northern Trust Corporation has a one year low of $66.40 and a one year high of $99.30.
Northern Trust Corporation (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, July 19th. The asset manager reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by $0.05. Northern Trust Corporation had a net margin of 20.21% and a return on equity of 12.08%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the business earned $1.09 EPS. The business’s revenue was up .5% on a year-over-year basis. On average, analysts anticipate that Northern Trust Corporation will post $4.72 earnings per share for the current year.
Northern Trust Corporation announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 28th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the asset manager to buy up to 3.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 1st will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Wednesday, August 30th. This is an increase from Northern Trust Corporation’s previous quarterly dividend of $0.38. Northern Trust Corporation’s dividend payout ratio (DPR) is 34.55%.
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Several research firms have commented on NTRS. Zacks Investment Research raised Northern Trust Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. BidaskClub lowered Northern Trust Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Wells Fargo & Company assumed coverage on Northern Trust Corporation in a research report on Wednesday. They set a “market perform” rating and a $90.00 target price on the stock. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $86.00 target price (down from $91.00) on shares of Northern Trust Corporation in a research report on Saturday, July 22nd. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $98.00 target price (up from $61.32) on shares of Northern Trust Corporation in a research report on Friday, May 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $94.15.
In related news, insider Teresa Parker sold 11,399 shares of Northern Trust Corporation stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $87.65, for a total transaction of $999,122.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jana R. Schreuder sold 5,538 shares of Northern Trust Corporation stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $88.33, for a total transaction of $489,171.54. The disclosure for this sale can be found here. In the last three months, insiders sold 184,974 shares of company stock valued at $17,103,543. Insiders own 1.27% of the company’s stock.
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.
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