Retirement Systems of Alabama raised its stake in Northern Trust Corporation (NASDAQ:NTRS) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,636 shares of the asset manager’s stock after buying an additional 677 shares during the period. Retirement Systems of Alabama’s holdings in Northern Trust Corporation were worth $10,172,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Speece Thorson Capital Group Inc. raised its position in shares of Northern Trust Corporation by 2.8% in the first quarter. Speece Thorson Capital Group Inc. now owns 197,795 shares of the asset manager’s stock valued at $17,125,000 after buying an additional 5,471 shares during the last quarter. BTIM Corp. raised its position in shares of Northern Trust Corporation by 5.8% in the first quarter. BTIM Corp. now owns 457,774 shares of the asset manager’s stock valued at $39,634,000 after buying an additional 25,231 shares during the last quarter. Personal Capital Advisors Corp raised its position in shares of Northern Trust Corporation by 8.5% in the first quarter. Personal Capital Advisors Corp now owns 212,557 shares of the asset manager’s stock valued at $18,305,000 after buying an additional 16,649 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of Northern Trust Corporation by 3.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,737 shares of the asset manager’s stock valued at $464,000 after buying an additional 165 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. raised its position in shares of Northern Trust Corporation by 8.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 48,859 shares of the asset manager’s stock valued at $4,230,000 after buying an additional 3,618 shares during the last quarter. Institutional investors own 83.48% of the company’s stock.

Shares of Northern Trust Corporation (NTRS) opened at 87.15 on Friday. The company has a market capitalization of $19.91 billion, a price-to-earnings ratio of 19.78 and a beta of 0.92. The stock has a 50 day moving average of $92.53 and a 200-day moving average of $89.21. Northern Trust Corporation has a 52 week low of $66.40 and a 52 week high of $99.30.

Northern Trust Corporation (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, July 19th. The asset manager reported $1.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by $0.05. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Northern Trust Corporation had a net margin of 20.21% and a return on equity of 12.08%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 earnings per share. On average, analysts anticipate that Northern Trust Corporation will post $4.72 EPS for the current year.

Northern Trust Corporation declared that its board has initiated a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 1st will be issued a dividend of $0.42 per share. The ex-dividend date is Wednesday, August 30th. This represents a $1.68 annualized dividend and a dividend yield of 1.93%. This is an increase from Northern Trust Corporation’s previous quarterly dividend of $0.38. Northern Trust Corporation’s dividend payout ratio is 34.55%.

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A number of analysts have weighed in on the stock. Buckingham Research restated a “neutral” rating and set a $103.00 price objective (up from $93.00) on shares of Northern Trust Corporation in a research note on Monday, July 10th. BidaskClub upgraded shares of Northern Trust Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 5th. Zacks Investment Research upgraded shares of Northern Trust Corporation from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Wednesday, July 12th. Morgan Stanley restated an “underweight” rating and set a $86.00 price objective (up from $80.00) on shares of Northern Trust Corporation in a research note on Friday, July 7th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $97.00 price objective on shares of Northern Trust Corporation in a research note on Thursday, June 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $94.15.

In other news, Vice Chairman William L. Morrison sold 25,000 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $87.28, for a total transaction of $2,182,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jana R. Schreuder sold 5,538 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $88.33, for a total transaction of $489,171.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,974 shares of company stock worth $17,103,543. Corporate insiders own 1.27% of the company’s stock.

About Northern Trust Corporation

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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Institutional Ownership by Quarter for Northern Trust Corporation (NASDAQ:NTRS)

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