Principal Financial Group Inc. raised its stake in Northern Trust Corp. (NASDAQ:NTRS) by 1.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 319,258 shares of the company’s stock after buying an additional 5,110 shares during the period. Principal Financial Group Inc. owned approximately 0.14% of Northern Trust Corp. worth $21,154,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of NTRS. Financial Architects Inc raised its stake in 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 during the last quarter. Global X Management Co. LLC raised its stake in Northern Trust Corp. by 30.8% in the second quarter. Global X Management Co. LLC now owns 1,545 shares of the company’s stock valued at $102,000 after buying an additional 364 shares during the last quarter. Creative Planning raised its stake in 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 during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in Northern Trust Corp. during the second quarter valued at approximately $119,000. Finally, IFP Advisors Inc raised its stake in 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 during the last quarter. Institutional investors own 81.71% of the company’s stock.
Shares of Northern Trust Corp. (NASDAQ:NTRS) opened at 67.99 on Friday. Northern Trust Corp. has a 52 week low of $54.38 and a 52 week high of $76.11. The stock’s 50 day moving average is $68.89 and its 200-day moving average is $68.49. The firm has a market cap of $15.41 billion, a PE ratio of 16.80 and a beta of 1.13.
Northern Trust Corp. (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, July 20th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The company 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 company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the business posted $1.01 EPS. On average, equities analysts predict that Northern Trust Corp. will post $4.24 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 2nd will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.24%. This is an increase from Northern Trust Corp.’s previous quarterly dividend of $0.36. The ex-dividend date is Wednesday, August 31st. Northern Trust Corp.’s dividend payout ratio (DPR) is 37.53%.
NTRS has been the subject of several analyst reports. Jefferies Group reissued 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. Zacks Investment Research raised shares of Northern Trust Corp. from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd. Credit Suisse Group AG set a $68.00 price target on shares of Northern Trust Corp. and gave the company a “hold” rating in a research report on Wednesday, July 20th. Deutsche Bank AG increased their price target on shares of Northern Trust Corp. from $66.00 to $69.00 and gave the company a “hold” rating in a research report on Monday, July 18th. Finally, Barclays PLC reissued a “hold” rating on shares of Northern Trust Corp. in a research report on Saturday, July 9th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $71.96.
In related news, Chairman Frederick H. Waddell sold 160,367 shares of the firm’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $69.81, for a total transaction of $11,195,220.27. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President William L. Morrison sold 170,563 shares of the firm’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.
Northern Trust Corp. 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 around the world. The Company’s segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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