AMP Capital Investors Ltd boosted its holdings in Northern Trust Co. (NASDAQ:NTRS) by 26.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,534 shares of the asset manager’s stock after acquiring an additional 16,597 shares during the quarter. AMP Capital Investors Ltd’s holdings in Northern Trust were worth $8,286,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Flinton Capital Management LLC boosted its position in Northern Trust by 12.9% in the second quarter. Flinton Capital Management LLC now owns 125,552 shares of the asset manager’s stock valued at $12,918,000 after buying an additional 14,308 shares in the last quarter. Laurion Capital Management LP acquired a new position in shares of Northern Trust during the second quarter worth approximately $238,000. Glen Harbor Capital Management LLC lifted its position in shares of Northern Trust by 12.9% during the second quarter. Glen Harbor Capital Management LLC now owns 71,744 shares of the asset manager’s stock worth $7,382,000 after purchasing an additional 8,176 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Northern Trust by 26.9% during the second quarter. Renaissance Technologies LLC now owns 139,698 shares of the asset manager’s stock worth $14,374,000 after purchasing an additional 29,598 shares in the last quarter. Finally, Korea Investment CORP lifted its position in shares of Northern Trust by 42.5% during the second quarter. Korea Investment CORP now owns 110,683 shares of the asset manager’s stock worth $11,388,000 after purchasing an additional 33,000 shares in the last quarter. 77.99% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:NTRS traded down $0.44 during trading hours on Friday, hitting $105.75. The stock had a trading volume of 1,275,220 shares, compared to its average volume of 1,138,527. Northern Trust Co. has a one year low of $91.06 and a one year high of $115.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market capitalization of $22.80 billion, a PE ratio of 21.89, a PEG ratio of 1.19 and a beta of 0.94.
Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 18th. The asset manager reported $1.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.05. Northern Trust had a net margin of 22.88% and a return on equity of 15.02%. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm earned $1.12 earnings per share. The business’s quarterly revenue was up 13.9% on a year-over-year basis. On average, sell-side analysts forecast that Northern Trust Co. will post 6.69 earnings per share for the current year.
Northern Trust announced that its Board of Directors has initiated a stock buyback program on Tuesday, July 17th that authorizes the company to buyback 25,000,000 shares. This buyback authorization authorizes the asset manager to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, September 14th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Thursday, September 13th. This is an increase from Northern Trust’s previous quarterly dividend of $0.42. Northern Trust’s dividend payout ratio is presently 45.55%.
In other Northern Trust news, insider Clair Joyce St sold 3,166 shares of the company’s stock in a transaction that occurred on Wednesday, July 18th. The shares were sold at an average price of $110.00, for a total value of $348,260.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Teresa Parker sold 5,606 shares of the company’s stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $108.23, for a total transaction of $606,737.38. The disclosure for this sale can be found here. Insiders sold 76,636 shares of company stock valued at $8,488,828 in the last ninety days. Insiders own 1.04% of the company’s stock.
NTRS has been the topic of a number of research reports. Credit Suisse Group upped their target price on shares of Northern Trust from $112.00 to $114.00 and gave the stock a “neutral” rating in a research report on Friday, August 10th. Morgan Stanley upped their target price on shares of Northern Trust from $110.00 to $117.00 and gave the stock a “$108.44” rating in a research report on Thursday, July 19th. BidaskClub lowered shares of Northern Trust from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 18th. Deutsche Bank reduced their target price on shares of Northern Trust from $119.00 to $118.00 and set a “hold” rating on the stock in a research report on Thursday, August 16th. Finally, Zacks Investment Research lowered shares of Northern Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $115.06.
Northern Trust Company Profile
Northern Trust Corporation, a financial holding company, provides asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates through Corporate & Institutional Services (C&IS) and Wealth Management segments.
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