Cambridge Investment Research Advisors Inc. Reduces Holdings in Northern Trust Corporation (NTRS)

Cambridge Investment Research Advisors Inc. lessened its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 8.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,383 shares of the asset manager’s stock after selling 331 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Northern Trust Corporation were worth $329,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NTRS. BlackRock Inc. boosted its holdings in shares of Northern Trust Corporation by 2,771.9% during the 1st quarter. BlackRock Inc. now owns 13,279,770 shares of the asset manager’s stock valued at $1,149,760,000 after purchasing an additional 12,817,363 shares during the last quarter. FMR LLC boosted its holdings in shares of Northern Trust Corporation by 38.4% during the 1st quarter. FMR LLC now owns 12,370,754 shares of the asset manager’s stock valued at $1,071,060,000 after purchasing an additional 3,430,332 shares during the last quarter. Findlay Park Partners LLP boosted its holdings in shares of Northern Trust Corporation by 82.8% during the 1st quarter. Findlay Park Partners LLP now owns 2,742,643 shares of the asset manager’s stock valued at $237,458,000 after purchasing an additional 1,242,643 shares during the last quarter. Primecap Management Co. CA boosted its holdings in shares of Northern Trust Corporation by 30.2% during the 1st quarter. Primecap Management Co. CA now owns 2,553,950 shares of the asset manager’s stock valued at $221,121,000 after purchasing an additional 592,550 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Northern Trust Corporation by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 13,891,932 shares of the asset manager’s stock valued at $1,202,764,000 after purchasing an additional 527,025 shares during the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

Shares of Northern Trust Corporation (NASDAQ:NTRS) opened at 87.96 on Friday. The stock has a market capitalization of $20.10 billion, a price-to-earnings ratio of 19.97 and a beta of 0.92. The company has a 50-day moving average of $88.36 and a 200-day moving average of $89.74. 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 posted its earnings results 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). The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. Northern Trust Corporation had a net margin of 20.21% and a return on equity of 12.08%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 earnings per share. Equities research analysts anticipate that Northern Trust Corporation will post $4.72 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 1st will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.91%. This is a positive change from Northern Trust Corporation’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Wednesday, August 30th. Northern Trust Corporation’s payout ratio is presently 38.18%.

Northern Trust Corporation announced that its board has initiated a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this piece of content on another publication, it was copied illegally and republished in violation of United States & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.chaffeybreeze.com/2017/09/17/cambridge-investment-research-advisors-inc-reduces-holdings-in-northern-trust-corporation-ntrs.html.

NTRS has been the subject of several research reports. Bank of America Corporation reissued a “buy” rating and set a $98.00 price objective (up previously from $61.32) on shares of Northern Trust Corporation in a report on Friday, May 26th. Credit Suisse Group reissued a “hold” rating and set a $90.00 price objective on shares of Northern Trust Corporation in a report on Sunday, May 28th. Zacks Investment Research downgraded shares of Northern Trust Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. BidaskClub raised shares of Northern Trust Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $97.00 price objective on shares of Northern Trust Corporation in a report on Thursday, June 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $94.57.

In other news, insider Stephen N. Potter sold 28,469 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $99.08, for a total value of $2,820,708.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Jana R. Schreuder sold 5,538 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were 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. Insiders sold a total of 132,673 shares of company stock worth $12,394,090 over the last quarter. 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.

Want to see what other hedge funds are holding NTRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northern Trust Corporation (NASDAQ:NTRS).

Institutional Ownership by Quarter for Northern Trust Corporation (NASDAQ:NTRS)

Receive News & Ratings for Northern Trust Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Trust Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply