Nicholas Company Inc. continued to hold its stake in Northern Trust Corporation (NASDAQ:NTRS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 294,545 shares of the asset manager’s stock at the close of the second quarter. Nicholas Company Inc. owned approximately 0.13% of Northern Trust Corporation worth $28,632,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Kings Point Capital Management bought a new position in Northern Trust Corporation in the 1st quarter valued at $101,000. Huntington National Bank boosted its position in Northern Trust Corporation by 54.0% in the 2nd 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 last quarter. Dupont Capital Management Corp bought a new position in Northern Trust Corporation in the 2nd quarter valued at $107,000. Bessemer Group Inc. boosted its position in Northern Trust Corporation by 16.9% in the 2nd 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 last quarter. Finally, Atria Investments LLC bought a new position in Northern Trust Corporation in the 2nd quarter valued at $200,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.
In related news, EVP Aileen B. Blake sold 1,000 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $90.00, for a total value of $90,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jana R. Schreuder sold 5,538 shares of the business’s stock in a transaction 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. In the last three months, insiders sold 132,673 shares of company stock worth $12,394,090. 1.27% of the stock is currently owned by insiders.
NTRS has been the topic of a number of recent research reports. Bank of America Corporation decreased their price objective on Northern Trust Corporation from $106.00 to $97.00 and set a “buy” rating on the stock in a research report on Thursday, July 20th. BidaskClub lowered Northern Trust Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Zacks Investment Research upgraded Northern Trust Corporation from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research report on Wednesday, July 12th. Royal Bank Of Canada reiterated a “buy” rating and issued a $97.00 price objective on shares of Northern Trust Corporation in a research report on Thursday, June 29th. Finally, UBS AG upgraded Northern Trust Corporation from a “neutral” rating to a “buy” rating and increased their price objective for the company from $92.00 to $100.00 in a research report on Friday, September 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $94.57.
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Northern Trust Corporation (NTRS) traded up 0.15% on Friday, hitting $87.94. The stock had a trading volume of 282,908 shares. Northern Trust Corporation has a 1-year low of $66.40 and a 1-year high of $99.30. The company’s 50 day moving average is $88.36 and its 200-day moving average is $89.73. The firm has a market capitalization of $20.09 billion, a price-to-earnings ratio of 19.96 and a beta of 0.92.
Northern Trust Corporation (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, July 19th. The asset manager reported $1.18 earnings per share for the quarter, missing the 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 during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the firm earned $1.09 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. On average, analysts forecast that Northern Trust Corporation will post $4.72 EPS 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 outstanding shares. This repurchase authorization allows the asset manager to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically 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. Investors of record on Friday, September 1st will be paid a $0.42 dividend. This is a boost from Northern Trust Corporation’s previous quarterly dividend of $0.38. The ex-dividend date is Wednesday, August 30th. This represents a $1.68 annualized dividend and a dividend yield of 1.91%. Northern Trust Corporation’s payout ratio is currently 38.18%.
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.
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