Sumitomo Mitsui Trust Holdings Inc. lowered its stake in shares of Northern Trust Corp. (NASDAQ:NTRS) by 0.6% during the second quarter, Holdings Channel reports. The firm owned 594,872 shares of the company’s stock after selling 3,716 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Northern Trust Corp. were worth $39,416,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Primecap Management Co. CA bought a new stake in Northern Trust Corp. during the first quarter valued at about $115,703,000. Bank of Montreal Can bought a new stake in Northern Trust Corp. during the second quarter valued at about $36,022,000. American Century Companies Inc. increased its stake 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 valued at $510,388,000 after buying an additional 462,106 shares in the last quarter. Junto Capital Management LP bought a new stake in Northern Trust Corp. during the first quarter valued at about $24,243,000. Finally, Canada Pension Plan Investment Board increased its stake 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 valued at $19,728,000 after buying an additional 239,310 shares in the last quarter. 81.68% of the stock is owned by institutional investors and hedge funds.
Shares of Northern Trust Corp. (NASDAQ:NTRS) traded up 0.25% on Wednesday, hitting $71.13. The stock had a trading volume of 1,696,983 shares. The stock has a market cap of $16.12 billion, a PE ratio of 17.57 and a beta of 1.13. The company has a 50 day moving average price of $69.64 and a 200-day moving average price of $68.98. 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 issued its earnings results on Wednesday, October 19th. The company reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. The company earned $1.22 billion during the quarter, compared to the consensus estimate of $1.25 billion. Northern Trust Corp. had a net margin of 19.38% and a return on equity of 11.38%. Northern Trust Corp.’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 EPS. On average, equities research analysts anticipate that Northern Trust Corp. will post $4.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Friday, December 2nd will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, November 30th. Northern Trust Corp.’s dividend payout ratio is currently 37.53%.
NTRS has been the topic of a number of recent analyst reports. Jefferies Group reiterated a “hold” rating and issued a $77.00 price objective on shares of Northern Trust Corp. in a research report on Monday, October 10th. Deutsche Bank AG increased their price objective on Northern Trust Corp. from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Friday, September 9th. Zacks Investment Research upgraded Northern Trust Corp. from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research report on Wednesday, October 5th. Credit Agricole SA increased their price objective on Northern Trust Corp. from $70.00 to $73.00 and gave the stock an “underperform” rating in a research report on Friday, September 23rd. Finally, Credit Suisse Group AG set a $68.00 price objective on Northern Trust Corp. and gave the stock a “hold” rating in a research report on Wednesday, July 20th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $72.27.
In other news, insider Clair Joyce St sold 48,110 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $67.02, for a total transaction of $3,224,332.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Biff Bowman sold 2,960 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $70.00, for a total value of $207,200.00. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate 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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