Fifth Third Bancorp cut its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 1.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,124 shares of the asset manager’s stock after selling 248 shares during the period. Fifth Third Bancorp’s holdings in Northern Trust Corporation were worth $1,223,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of NTRS. Teacher Retirement System of Texas purchased a new position in Northern Trust Corporation during the first quarter valued at about $1,047,000. Ngam Advisors L.P. boosted its position in Northern Trust Corporation by 9.7% in the first quarter. Ngam Advisors L.P. now owns 41,032 shares of the asset manager’s stock valued at $3,553,000 after buying an additional 3,617 shares in the last quarter. Capital Planning Advisors LLC purchased a new position in Northern Trust Corporation during the first quarter valued at about $243,000. Simmons Bank boosted its position in Northern Trust Corporation by 1.3% in the first quarter. Simmons Bank now owns 10,278 shares of the asset manager’s stock valued at $890,000 after buying an additional 131 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Northern Trust Corporation by 3.4% in the first quarter. Legal & General Group Plc now owns 1,061,559 shares of the asset manager’s stock valued at $91,912,000 after buying an additional 35,029 shares in the last quarter. Hedge funds and other institutional investors own 82.90% of the company’s stock.
Northern Trust Corporation (NASDAQ:NTRS) traded down 0.257% during trading on Tuesday, reaching $95.055. 200,121 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $89.93 and a 200 day moving average price of $88.03. Northern Trust Corporation has a 52 week low of $61.32 and a 52 week high of $95.63. The firm has a market capitalization of $21.82 billion, a price-to-earnings ratio of 21.677 and a beta of 0.97.
Northern Trust Corporation (NASDAQ:NTRS) last issued its earnings results on Tuesday, April 25th. The asset manager reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. Northern Trust Corporation had a net margin of 20.20% and a return on equity of 11.96%. The business’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.99 EPS. Equities research analysts forecast that Northern Trust Corporation will post $4.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Friday, June 2nd will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Wednesday, May 31st. Northern Trust Corporation’s dividend payout ratio (DPR) is presently 34.78%.
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Several research firms recently issued reports on NTRS. BidaskClub upgraded shares of Northern Trust Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research cut shares of Northern Trust Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. Credit Suisse Group reiterated a “hold” rating and issued a $90.00 target price on shares of Northern Trust Corporation in a research note on Sunday, May 28th. Bank of America Corporation reiterated a “buy” rating and issued a $98.00 target price (up from $61.32) on shares of Northern Trust Corporation in a research note on Friday, May 26th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $102.00 target price on shares of Northern Trust Corporation in a research note on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $90.18.
In other news, CFO Biff Bowman sold 23,167 shares of Northern Trust Corporation stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $91.77, for a total transaction of $2,126,035.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman William L. Morrison sold 41,965 shares of Northern Trust Corporation stock in a transaction on Monday, June 12th. The stock was sold at an average price of $91.89, for a total value of $3,856,163.85. The disclosure for this sale can be found here. Insiders have sold a total of 381,423 shares of company stock valued at $34,537,044 in the last ninety days. Corporate insiders own 1.27% of the company’s stock.
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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