Strs Ohio decreased its stake in shares of Northern Trust Corp. (NASDAQ:NTRS) by 24.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,178 shares of the company’s stock after selling 6,210 shares during the period. Strs Ohio’s holdings in Northern Trust Corp. were worth $1,270,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. raised its position in shares of Northern Trust Corp. by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,748,295 shares of the company’s stock valued at $374,616,000 after buying an additional 85,870 shares during the period. Fairpointe Capital LLC raised its position in shares of Northern Trust Corp. by 3.6% in the first quarter. Fairpointe Capital LLC now owns 2,060,763 shares of the company’s stock valued at $134,300,000 after buying an additional 71,091 shares during the period. Geode Capital Management LLC raised its position in shares of Northern Trust Corp. by 1.7% in the first quarter. Geode Capital Management LLC now owns 1,857,786 shares of the company’s stock valued at $120,841,000 after buying an additional 30,213 shares during the period. Primecap Management Co. CA purchased a new position in shares of Northern Trust Corp. during the first quarter valued at about $115,703,000. Finally, BlackRock Group LTD raised its position in shares of Northern Trust Corp. by 0.8% in the first quarter. BlackRock Group LTD now owns 1,699,828 shares of the company’s stock valued at $110,777,000 after buying an additional 13,839 shares during the period. 81.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of Northern Trust Corp. (NASDAQ:NTRS) traded up 0.06% on Wednesday, reaching $71.11. The company had a trading volume of 639,495 shares. The stock has a market cap of $16.11 billion, a PE ratio of 17.57 and a beta of 1.13. The stock has a 50-day moving average price of $69.43 and a 200-day moving average price of $68.79. Northern Trust Corp. has a 12 month low of $54.38 and a 12 month high of $76.11.
Northern Trust Corp. (NASDAQ:NTRS) last announced its earnings results on Wednesday, July 20th. The company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.03. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.22 billion. Northern Trust Corp. had a return on equity of 11.38% and a net margin of 19.38%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 EPS. Analysts predict that Northern Trust Corp. will post $4.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 2nd were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.14%. This is an increase from Northern Trust Corp.’s previous quarterly dividend of $0.36. The ex-dividend date was Wednesday, August 31st. Northern Trust Corp.’s payout ratio is currently 37.53%.
A number of equities research analysts recently commented on the company. Goldman Sachs Group Inc. downgraded Northern Trust Corp. from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $82.00 to $71.00 in a report on Thursday, July 7th. Credit Agricole SA upped their price objective on Northern Trust Corp. from $70.00 to $73.00 and gave the company an “underperform” rating in a report on Friday, September 23rd. Deutsche Bank AG reiterated a “hold” rating on shares of Northern Trust Corp. in a report on Sunday, June 26th. Zacks Investment Research upgraded Northern Trust Corp. from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Finally, Citigroup Inc. upgraded Northern Trust Corp. from a “sell” rating to a “neutral” rating and set a $66.00 price objective for the company in a report on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $72.27.
In other news, CFO Biff Bowman sold 2,960 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $70.00, for a total value of $207,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President William L. Morrison sold 170,563 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $67.36, for a total value of $11,489,123.68. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.
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.
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