Victory Capital Management Inc. lowered its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 5.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 987,572 shares of the asset manager’s stock after selling 55,715 shares during the period. Victory Capital Management Inc. owned approximately 0.43% of Northern Trust Corporation worth $90,787,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pennsylvania Trust Co raised its position in shares of Northern Trust Corporation by 4.5% in the 2nd quarter. Pennsylvania Trust Co now owns 45,615 shares of the asset manager’s stock valued at $4,434,000 after buying an additional 1,945 shares in the last quarter. Boston Advisors LLC raised its position in shares of Northern Trust Corporation by 6,051.0% in the 2nd quarter. Boston Advisors LLC now owns 160,540 shares of the asset manager’s stock valued at $15,606,000 after buying an additional 157,930 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Northern Trust Corporation by 4.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 675,307 shares of the asset manager’s stock valued at $65,647,000 after buying an additional 26,164 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Northern Trust Corporation by 0.7% in the 2nd quarter. Principal Financial Group Inc. now owns 337,497 shares of the asset manager’s stock valued at $32,808,000 after buying an additional 2,298 shares in the last quarter. Finally, Eaton Vance Management raised its position in shares of Northern Trust Corporation by 0.3% in the 2nd quarter. Eaton Vance Management now owns 753,651 shares of the asset manager’s stock valued at $73,262,000 after buying an additional 2,397 shares in the last quarter. 81.90% of the stock is owned by hedge funds and other institutional investors.

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Several equities analysts have recently commented on NTRS shares. Bank of America Corporation dropped their target price on shares of Northern Trust Corporation from $106.00 to $97.00 and set a “buy” rating for the company in a research report on Thursday, July 20th. BidaskClub cut shares of Northern Trust Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. 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 report on Wednesday, July 12th. Royal Bank Of Canada restated a “buy” rating and issued a $97.00 target price on shares of Northern Trust Corporation in a research report on Friday, August 18th. Finally, UBS AG upgraded shares of Northern Trust Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the company from $92.00 to $100.00 in a research report on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Northern Trust Corporation currently has a consensus rating of “Hold” and an average target price of $97.07.

Northern Trust Corporation (NASDAQ:NTRS) last announced its earnings results on Wednesday, October 18th. The asset manager reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.08. Northern Trust Corporation had a net margin of 20.27% and a return on equity of 12.33%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the business posted $1.11 earnings per share. Northern Trust Corporation’s revenue for the quarter was up 11.2% on a year-over-year basis.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 1st will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.68 annualized dividend and a yield of 1.79%. Northern Trust Corporation’s payout ratio is presently 37.17%.

Northern Trust Corporation declared that its board has approved a stock repurchase program on Tuesday, July 18th that allows the company to buyback 9,500,000 outstanding shares. This buyback authorization allows the asset manager to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

In other Northern Trust Corporation news, EVP Aileen B. Blake sold 7,762 shares of Northern Trust Corporation stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $88.45, for a total transaction of $686,548.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jana R. Schreuder sold 5,538 shares of Northern Trust Corporation stock in a transaction that occurred on 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. Over the last quarter, insiders have sold 351,382 shares of company stock valued at $32,908,051. 1.27% of the stock is currently owned by company insiders.

Northern Trust Corporation 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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