Speece Thorson Capital Group Inc. decreased its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 21.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 156,020 shares of the asset manager’s stock after selling 42,721 shares during the quarter. Northern Trust Corporation accounts for about 3.0% of Speece Thorson Capital Group Inc.’s holdings, making the stock its 15th biggest holding. Speece Thorson Capital Group Inc. owned about 0.07% of Northern Trust Corporation worth $14,343,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Northern Trust Corporation by 2.6% in the second quarter. Vanguard Group Inc. now owns 14,255,623 shares of the asset manager’s stock worth $1,385,789,000 after acquiring an additional 363,691 shares during the last quarter. BlackRock Inc. raised its holdings in Northern Trust Corporation by 0.3% during the second quarter. BlackRock Inc. now owns 13,318,550 shares of the asset manager’s stock worth $1,294,697,000 after purchasing an additional 38,780 shares in the last quarter. Northern Trust Corp raised its holdings in Northern Trust Corporation by 1.5% during the second quarter. Northern Trust Corp now owns 12,414,424 shares of the asset manager’s stock worth $1,206,806,000 after purchasing an additional 184,112 shares in the last quarter. Burgundy Asset Management Ltd. raised its holdings in Northern Trust Corporation by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 2,373,551 shares of the asset manager’s stock worth $230,733,000 after purchasing an additional 32,849 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Northern Trust Corporation by 2.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,078,796 shares of the asset manager’s stock valued at $202,200,000 after acquiring an additional 56,465 shares during the period. 82.00% of the stock is owned by institutional investors and hedge funds.
Several brokerages have issued reports on NTRS. Zacks Investment Research raised shares of Northern Trust Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. BidaskClub upgraded shares of Northern Trust Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Wells Fargo & Company started coverage on shares of Northern Trust Corporation in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $90.00 price objective on the stock. Buckingham Research upped their target price on shares of Northern Trust Corporation from $95.00 to $97.00 and gave the company a “neutral” rating in a report on Thursday, October 19th. Finally, UBS AG upped their target price on shares of Northern Trust Corporation from $100.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Northern Trust Corporation has a consensus rating of “Hold” and a consensus target price of $97.07.
In other Northern Trust Corporation news, Chairman Frederick H. Waddell sold 100,000 shares of Northern Trust Corporation stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $92.00, for a total value of $9,200,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Clair Joyce St sold 13,814 shares of Northern Trust Corporation stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $89.32, for a total value of $1,233,866.48. The disclosure for this sale can be found here. Insiders sold a total of 338,082 shares of company stock worth $31,732,330 over the last three months. 1.27% of the stock is owned by company insiders.
Shares of Northern Trust Corporation (NASDAQ NTRS) opened at $92.64 on Wednesday. The firm has a market capitalization of $21,038.73, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 2.04 and a beta of 0.96. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.37. Northern Trust Corporation has a 52-week low of $80.49 and a 52-week high of $99.30.
Northern Trust Corporation (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, October 18th. The asset manager reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.08. Northern Trust Corporation had a return on equity of 12.33% and a net margin of 20.27%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the company earned $1.11 earnings per share. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. equities analysts anticipate that Northern Trust Corporation will post 4.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 1st will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Thursday, November 30th. Northern Trust Corporation’s payout ratio is 37.17%.
Northern Trust Corporation announced that its board has authorized a share repurchase program on Tuesday, July 18th that permits the company to buyback 9,500,000 shares. This buyback authorization permits the asset manager to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Northern Trust Corporation 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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