UMB Bank N A MO Buys 1,991 Shares of 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, according to its most recent Form 13F filing with the SEC. The institutional investor 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.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wedbush Securities Inc. bought a new position in shares of Northern Trust Corporation during the second quarter valued at $209,000. Rhumbline Advisers boosted its position in shares of Northern Trust Corporation by 2.0% in the second quarter. Rhumbline Advisers now owns 370,924 shares of the asset manager’s stock valued at $36,058,000 after buying an additional 7,233 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Northern Trust Corporation by 239.3% in the second quarter. Teacher Retirement System of Texas now owns 41,021 shares of the asset manager’s stock valued at $3,988,000 after buying an additional 28,932 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Northern Trust Corporation by 49.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 24,856 shares of the asset manager’s stock valued at $2,488,000 after buying an additional 8,243 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Northern Trust Corporation by 0.6% in the second quarter. Arizona State Retirement System now owns 53,504 shares of the asset manager’s stock valued at $5,201,000 after buying an additional 300 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. Northern Trust Corporation has a 1-year low of $66.40 and a 1-year high of $99.30. The firm’s 50-day moving average price is $92.53 and its 200-day moving average price is $89.21. The firm has a market cap of $19.91 billion, a price-to-earnings ratio of 19.78 and a beta of 0.92.
Northern Trust Corporation (NASDAQ:NTRS) last announced its earnings results on Wednesday, July 19th. The asset manager reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by $0.05. The company had revenue of $1.33 billion for 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%. Northern Trust Corporation’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the company posted $1.09 EPS. On average, equities research analysts anticipate that Northern Trust Corporation will post $4.72 earnings per share for the current year.
Northern Trust Corporation announced that its board has initiated a stock repurchase program on Wednesday, June 28th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the asset manager to buy up to 3.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
The business 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 dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Wednesday, August 30th. This is a boost from Northern Trust Corporation’s previous quarterly dividend of $0.38. Northern Trust Corporation’s dividend payout ratio is 34.55%.
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Several brokerages recently weighed in on NTRS. BidaskClub upgraded Northern Trust Corporation from a “sell” rating to a “hold” rating in a research report on Friday. Wells Fargo & Company began coverage on Northern Trust Corporation in a research report on Wednesday. They set a “market perform” rating and a $90.00 price target for the company. Zacks Investment Research upgraded Northern Trust Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $86.00 price target (down from $91.00) on shares of Northern Trust Corporation in a research report on Saturday, July 22nd. Finally, Morgan Stanley dropped their price objective on Northern Trust Corporation from $86.00 to $83.00 and set an “underweight” rating on the stock in a report on Thursday, July 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $94.15.
In other news, Vice Chairman William L. Morrison sold 25,000 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was 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 SEC, which is available at the SEC website. Also, insider Stephen N. Potter sold 28,469 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $99.08, for a total value of $2,820,708.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 184,974 shares of company stock worth $17,103,543. 1.27% of the stock is owned by insiders.
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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