Northern Trust Corp. (NTRS) Shares Sold by Retirement Systems of Alabama
Retirement Systems of Alabama lowered its stake in Northern Trust Corp. (NASDAQ:NTRS) by 0.5% during the second quarter, Holdings Channel reports. The firm owned 109,343 shares of the company’s stock after selling 543 shares during the period. Retirement Systems of Alabama’s holdings in Northern Trust Corp. were worth $7,245,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of NTRS. HL Financial Services LLC raised its stake in Northern Trust Corp. by 3.1% in the second quarter. HL Financial Services LLC now owns 638,250 shares of the company’s stock valued at $42,290,000 after buying an additional 18,903 shares during the period. Callahan Advisors LLC raised its stake in Northern Trust Corp. by 13.9% in the second quarter. Callahan Advisors LLC now owns 34,404 shares of the company’s stock valued at $2,280,000 after buying an additional 4,207 shares during the period. Bank of Montreal Can purchased a new stake in Northern Trust Corp. during the second quarter valued at about $36,022,000. 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 period. Finally, Shell Asset Management Co. raised its stake in Northern Trust Corp. by 51.5% in the second quarter. Shell Asset Management Co. now owns 17,859 shares of the company’s stock valued at $1,183,000 after buying an additional 6,070 shares during the period. 81.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Northern Trust Corp. (NASDAQ:NTRS) traded down 0.12% during midday trading on Friday, reaching $71.95. 1,168,574 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $69.26 and a 200 day moving average price of $68.68. Northern Trust Corp. has a 12 month low of $54.38 and a 12 month high of $76.11. The company has a market cap of $16.30 billion, a P/E ratio of 17.77 and a beta of 1.13.
Northern Trust Corp. (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.03. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.22 billion. Northern Trust Corp. had a net margin of 19.38% and a return on equity of 11.38%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.01 EPS. Equities research analysts forecast that Northern Trust Corp. will post $4.24 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Friday, September 2nd were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.11%. This is an increase from Northern Trust Corp.’s previous quarterly dividend of $0.36. The ex-dividend date was Wednesday, August 31st. Northern Trust Corp.’s payout ratio is currently 37.53%.
Several research firms have issued reports on NTRS. Zacks Investment Research raised shares of Northern Trust Corp. from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Wednesday. Credit Agricole SA upped their price target on shares of Northern Trust Corp. from $70.00 to $73.00 and gave the stock an “underperform” rating in a research report on Friday, September 23rd. Deutsche Bank AG upped their price objective on shares of Northern Trust Corp. from $75.00 to $76.00 and gave the company a “hold” rating in a report on Friday, September 9th. Jefferies Group reiterated a “hold” rating and issued a $71.00 price objective (up from $68.00) on shares of Northern Trust Corp. in a report on Sunday, July 24th. Finally, Credit Suisse Group AG set a $68.00 price objective on shares of Northern Trust Corp. and gave the company a “hold” rating in a report on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Northern Trust Corp. currently has an average rating of “Hold” and a consensus price target of $71.81.
In other news, President William L. Morrison sold 170,563 shares of Northern Trust Corp. stock in a transaction on Friday, August 5th. The stock was sold at an average price of $67.36, for a total transaction of $11,489,123.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Frederick H. Waddell sold 160,367 shares of Northern Trust Corp. stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $69.81, for a total value of $11,195,220.27. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
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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