Nippon Life Global Investors Americas Inc. acquired a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS) during the second quarter, Holdings Channel reports. The fund acquired 50,860 shares of the asset manager’s stock, valued at approximately $4,944,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Pennsylvania Trust Co boosted its stake in shares of Northern Trust Corporation by 4.5% in the second quarter. Pennsylvania Trust Co now owns 45,615 shares of the asset manager’s stock valued at $4,434,000 after buying an additional 1,945 shares during the last quarter. Cleararc Capital Inc. boosted its stake in shares of Northern Trust Corporation by 1.7% in the first quarter. Cleararc Capital Inc. now owns 5,247 shares of the asset manager’s stock valued at $454,000 after buying an additional 89 shares during the last quarter. National Pension Service boosted its stake in shares of Northern Trust Corporation by 17.6% in the second quarter. National Pension Service now owns 211,118 shares of the asset manager’s stock valued at $20,478,000 after buying an additional 31,558 shares during the last quarter. BARING ASSET MANAGEMENT Ltd acquired a new stake in shares of Northern Trust Corporation during the first quarter valued at $1,638,000. Finally, First Citizens Bank & Trust Co. acquired a new stake in shares of Northern Trust Corporation during the first quarter valued at $892,000. 83.48% of the stock is owned by institutional investors.

Shares of Northern Trust Corporation (NASDAQ NTRS) opened at 87.15 on Friday. The company’s 50-day moving average is $92.53 and its 200-day moving average is $89.21. Northern Trust Corporation has a 52-week low of $66.40 and a 52-week high of $99.30. The stock has a market cap of $19.91 billion, a PE ratio of 19.78 and a beta of 0.92.

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

Northern Trust Corporation declared that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the asset manager to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

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

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Several brokerages have recently weighed in on NTRS. Zacks Investment Research cut shares of Northern Trust Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. BidaskClub cut shares of Northern Trust Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Bank of America Corporation reaffirmed a “buy” rating and issued a $98.00 price target (up previously from $61.32) on shares of Northern Trust Corporation in a research report on Friday, May 26th. Credit Suisse Group reaffirmed a “hold” rating and issued a $90.00 price target on shares of Northern Trust Corporation in a research report on Monday, May 15th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $86.00 price target (up previously from $80.00) on shares of Northern Trust Corporation in a research report on Friday, July 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $94.15.

In related news, Vice Chairman William L. Morrison sold 25,000 shares of Northern Trust Corporation stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $87.28, for a total value of $2,182,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jana R. Schreuder sold 5,538 shares of Northern Trust Corporation stock in a transaction that occurred on Monday, August 7th. The stock was 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. Insiders sold 184,974 shares of company stock valued at $17,103,543 in the last quarter. 1.27% of the stock is owned by insiders.

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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