Penobscot Investment Management Company Inc. boosted its position in Northern Trust Corp. (NASDAQ:NTRS) by 26.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,100 shares of the company’s stock after buying an additional 2,560 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Northern Trust Corp. were worth $802,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in NTRS. Primecap Management Co. CA purchased a new position in Northern Trust Corp. during the first quarter worth approximately $115,703,000. Bank of Montreal Can purchased a new position in Northern Trust Corp. during the second quarter worth approximately $36,022,000. American Century Companies Inc. increased its position in Northern Trust Corp. by 6.4% in the second quarter. American Century Companies Inc. now owns 7,702,813 shares of the company’s stock worth $510,388,000 after buying an additional 462,106 shares in the last quarter. Junto Capital Management LP purchased a new position in Northern Trust Corp. during the first quarter worth approximately $24,243,000. Finally, Canada Pension Plan Investment Board increased its position in Northern Trust Corp. by 377.4% in the first quarter. Canada Pension Plan Investment Board now owns 302,722 shares of the company’s stock worth $19,728,000 after buying an additional 239,310 shares in the last quarter. Hedge funds and other institutional investors own 81.68% of the company’s stock.
Shares of Northern Trust Corp. (NASDAQ:NTRS) traded up 0.97% on Tuesday, reaching $70.95. The company had a trading volume of 814,680 shares. The firm has a market capitalization of $16.08 billion, a price-to-earnings ratio of 17.53 and a beta of 1.13. The company’s 50-day moving average price is $69.61 and its 200-day moving average price is $68.94. Northern Trust Corp. has a 52-week low of $54.38 and a 52-week high of $76.11.
The company also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Friday, September 2nd were paid a $0.38 dividend. This is a boost from Northern Trust Corp.’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $1.52 annualized dividend and a yield of 2.14%. Northern Trust Corp.’s payout ratio is presently 37.53%.
A number of equities analysts recently commented on NTRS shares. Goldman Sachs Group Inc. downgraded Northern Trust Corp. from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $82.00 to $71.00 in a report on Thursday, July 7th. Zacks Investment Research upgraded Northern Trust Corp. from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a report on Wednesday, October 5th. Deutsche Bank AG set a $71.00 price target on Northern Trust Corp. and gave the company a “hold” rating in a report on Friday, August 5th. Credit Agricole SA increased their price target on Northern Trust Corp. from $70.00 to $73.00 and gave the company an “underperform” rating in a report on Friday, September 23rd. Finally, Jefferies Group reiterated a “hold” rating and set a $77.00 price target on shares of Northern Trust Corp. in a report on Monday, October 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $72.27.
In other Northern Trust Corp. news, insider Clair Joyce St sold 48,110 shares of the business’s 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jeffrey D. Cohodes sold 7,616 shares of the business’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $72.35, for a total value of $551,017.60. The disclosure for this sale can be found here. 1.90% of the stock is owned by company 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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