Royce & Associates LP Has $8.52 Million Position in Northern Trust Corporation (NTRS)
Royce & Associates LP reduced its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 11.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,600 shares of the asset manager’s stock after selling 11,000 shares during the quarter. Royce & Associates LP’s holdings in Northern Trust Corporation were worth $8,516,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in Northern Trust Corporation by 3.9% in 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 acquiring an additional 527,025 shares during the period. BlackRock Inc. increased its position in Northern Trust Corporation by 2,771.9% in the 1st quarter. BlackRock Inc. now owns 13,279,770 shares of the asset manager’s stock valued at $1,149,760,000 after acquiring an additional 12,817,363 shares during the period. FMR LLC increased its position in Northern Trust Corporation by 38.4% in the 1st quarter. FMR LLC now owns 12,370,754 shares of the asset manager’s stock valued at $1,071,060,000 after acquiring an additional 3,430,332 shares during the period. JPMorgan Chase & Co. increased its position in Northern Trust Corporation by 0.8% in the 1st quarter. JPMorgan Chase & Co. now owns 8,226,919 shares of the asset manager’s stock valued at $712,287,000 after acquiring an additional 68,263 shares during the period. Finally, Findlay Park Partners LLP increased its position in Northern Trust Corporation by 82.8% in 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 acquiring an additional 1,242,643 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.
Northern Trust Corporation (NTRS) opened at 88.96 on Monday. The stock’s 50 day moving average price is $89.15 and its 200 day moving average price is $89.71. Northern Trust Corporation has a 12 month low of $66.39 and a 12 month high of $99.30. The firm has a market capitalization of $20.33 billion, a PE ratio of 20.20 and a beta of 0.92.
Northern Trust Corporation (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 19th. The asset manager reported $1.18 earnings per share (EPS) 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 firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the company posted $1.09 EPS. The firm’s quarterly revenue was up .5% compared to the same quarter last year. Equities research analysts expect that Northern Trust Corporation will post $4.72 earnings per share for the current fiscal year.
The company also recently disclosed 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 is an increase 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 yield of 1.89%. Northern Trust Corporation’s dividend payout ratio is currently 38.18%.
Northern Trust Corporation announced that its Board of Directors has approved a stock repurchase plan on Wednesday, June 28th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the asset manager to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
NTRS has been the topic of several analyst reports. Wells Fargo & Company initiated coverage on Northern Trust Corporation in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $90.00 target price on the stock. 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 Wednesday, May 10th. BidaskClub cut Northern Trust Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded Northern Trust Corporation from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research report on Wednesday, July 12th. Finally, Buckingham Research reiterated a “neutral” rating and set a $103.00 price target (up from $93.00) on shares of Northern Trust Corporation in a research report on Monday, July 10th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $94.15.
In other Northern Trust Corporation news, insider Steven L. Fradkin sold 14,700 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $89.23, for a total transaction of $1,311,681.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman William L. Morrison sold 41,965 shares of the company’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $91.89, for a total transaction of $3,856,163.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 172,757 shares of company stock worth $16,067,335. Company insiders own 1.27% of the company’s stock.
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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