Boston Advisors LLC cut its stake in Northern Trust Corp. (NASDAQ:NTRS) by 72.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,765 shares of the company’s stock after selling 12,770 shares during the period. Boston Advisors LLC’s holdings in Northern Trust Corp. were worth $316,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of NTRS. Financial Architects Inc boosted its position in shares of Northern Trust Corp. by 5,936.0% in the second quarter. Financial Architects Inc now owns 1,509 shares of the company’s stock valued at $100,000 after buying an additional 1,484 shares in the last quarter. Creative Planning boosted its position in shares of Northern Trust Corp. by 61.9% in the second quarter. Creative Planning now owns 1,755 shares of the company’s stock valued at $116,000 after buying an additional 671 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Northern Trust Corp. by 254.4% in the first quarter. IFP Advisors Inc now owns 3,399 shares of the company’s stock valued at $222,000 after buying an additional 2,440 shares in the last quarter. Raymond James Trust N.A. boosted its position in shares of Northern Trust Corp. by 5.9% in the second quarter. Raymond James Trust N.A. now owns 3,663 shares of the company’s stock valued at $243,000 after buying an additional 204 shares in the last quarter. Finally, BlueMountain Capital Management LLC bought a new position in shares of Northern Trust Corp. during the first quarter valued at $254,000. 81.71% of the stock is owned by institutional investors and hedge funds.
Shares of Northern Trust Corp. (NASDAQ:NTRS) traded down 0.12% during mid-day trading on Friday, hitting $71.95. The company had a trading volume of 1,168,574 shares. The firm has a 50-day moving average price of $69.26 and a 200 day moving average price of $68.68. Northern Trust Corp. has a 12 month low of $54.38 and a 12 month high of $76.11. The firm has a market capitalization of $16.30 billion, a P/E ratio of 17.77 and a beta of 1.13.
Northern Trust Corp. (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Northern Trust Corp. had a return on equity of 11.38% and a net margin of 19.38%. The company earned $1.32 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the firm earned $1.01 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities research analysts forecast that Northern Trust Corp. will post $4.24 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Friday, September 2nd were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.11%. This is a boost from Northern Trust Corp.’s previous quarterly dividend of $0.36. The ex-dividend date was Wednesday, August 31st. Northern Trust Corp.’s dividend payout ratio (DPR) is presently 37.53%.
Several research analysts recently weighed in on the company. JPMorgan Chase & Co. reiterated a “hold” rating and set a $72.50 price target on shares of Northern Trust Corp. in a research report on Thursday, June 9th. Deutsche Bank AG lifted their price target on Northern Trust Corp. from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Friday, September 9th. Zacks Investment Research upgraded Northern Trust Corp. from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Wednesday. Credit Agricole SA lifted their price target on Northern Trust Corp. from $70.00 to $73.00 and gave the company an “underperform” rating in a research report on Friday, September 23rd. Finally, Jefferies Group reiterated a “hold” rating and set a $71.00 price target (up from $68.00) on shares of Northern Trust Corp. in a research report on Sunday, July 24th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Northern Trust Corp. presently has an average rating of “Hold” and a consensus price target of $71.81.
In other Northern Trust Corp. news, President William L. Morrison sold 170,563 shares of the stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $67.36, for a total transaction of $11,489,123.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Clair Joyce St sold 48,110 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $67.02, for a total value of $3,224,332.20. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
About Northern Trust Corp.
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 around the world. The Company’s 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 Corp. (NASDAQ:NTRS).
Receive News & Ratings for Northern Trust Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Trust Corp. and related companies with MarketBeat.com's FREE daily email newsletter.