Wetherby Asset Management Inc. increased its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,867 shares of the asset manager’s stock after buying an additional 27 shares during the period. Wetherby Asset Management Inc.’s holdings in Northern Trust Corporation were worth $570,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Creative Planning increased its stake in shares of Northern Trust Corporation by 117.8% in the first quarter. Creative Planning now owns 2,354 shares of the asset manager’s stock worth $204,000 after buying an additional 1,273 shares in the last quarter. Reilly Financial Advisors LLC increased its stake in shares of Northern Trust Corporation by 3.5% in the first quarter. Reilly Financial Advisors LLC now owns 110,632 shares of the asset manager’s stock worth $9,579,000 after buying an additional 3,713 shares in the last quarter. Jolley Asset Management LLC increased its stake in shares of Northern Trust Corporation by 25.9% in the first quarter. Jolley Asset Management LLC now owns 1,700 shares of the asset manager’s stock worth $147,000 after buying an additional 350 shares in the last quarter. DnB Asset Management AS increased its stake in shares of Northern Trust Corporation by 21.8% in the first quarter. DnB Asset Management AS now owns 25,713 shares of the asset manager’s stock worth $2,226,000 after buying an additional 4,600 shares in the last quarter. Finally, Trust Department MB Financial Bank N A increased its stake in shares of 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 worth $101,000 after buying an additional 72 shares in the last quarter. Institutional investors own 83.48% of the company’s stock.

Northern Trust Corporation (NASDAQ NTRS) opened at 87.15 on Friday. The company’s 50 day moving average is $92.53 and its 200-day moving average is $89.21. The stock has a market capitalization of $19.91 billion, a PE ratio of 19.78 and a beta of 0.92. Northern Trust Corporation has a 1-year low of $66.40 and a 1-year 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. Northern Trust Corporation had a return on equity of 12.08% and a net margin of 20.21%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the business posted $1.09 earnings per share. Northern Trust Corporation’s revenue for the quarter was up .5% on a year-over-year basis. Analysts forecast that Northern Trust Corporation will post $4.72 earnings per share for the current fiscal year.

Northern Trust Corporation announced that its board has initiated a stock 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 purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 1st will be given a dividend of $0.42 per share. This is a boost from Northern Trust Corporation’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Wednesday, August 30th. Northern Trust Corporation’s dividend payout ratio (DPR) is presently 34.55%.

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A number of analysts have issued reports on NTRS shares. Deutsche Bank AG reiterated a “hold” rating and issued a $96.00 price target (up from $93.00) on shares of Northern Trust Corporation in a report on Saturday, April 29th. Credit Suisse Group reiterated a “hold” rating and issued a $90.00 price target on shares of Northern Trust Corporation in a report on Friday, May 5th. Royal Bank Of Canada reiterated a “buy” rating and issued a $97.00 price target on shares of Northern Trust Corporation in a report on Wednesday, May 10th. Jefferies Group LLC reiterated a “buy” rating and issued a $102.00 price target on shares of Northern Trust Corporation in a report on Wednesday, May 17th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $98.00 price target (up from $61.32) on shares of Northern Trust Corporation in a report on Friday, May 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Northern Trust Corporation presently has a consensus rating of “Hold” and a consensus target price of $94.15.

In related news, Vice Chairman William L. Morrison sold 25,000 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $87.28, for a total transaction of $2,182,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen N. Potter sold 48,110 shares of the firm’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $95.20, for a total transaction of $4,580,072.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,974 shares of company stock valued at $17,103,543. 1.27% of the stock is 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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Institutional Ownership by Quarter for Northern Trust Corporation (NASDAQ:NTRS)

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