King Luther Capital Management Corp Has $10,170,000 Stake in Northern Trust Corporation (NTRS)
King Luther Capital Management Corp held its position in Northern Trust Corporation (NASDAQ:NTRS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,618 shares of the asset manager’s stock at the end of the 2nd quarter. King Luther Capital Management Corp’s holdings in Northern Trust Corporation were worth $10,170,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in NTRS. Kings Point Capital Management purchased a new stake in Northern Trust Corporation during the first quarter valued at $101,000. Huntington National Bank raised its stake in Northern Trust Corporation by 54.0% during the second quarter. Huntington National Bank now owns 1,089 shares of the asset manager’s stock valued at $106,000 after purchasing an additional 382 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in Northern Trust Corporation during the second quarter valued at $107,000. Bessemer Group Inc. raised its stake in Northern Trust Corporation by 16.9% during the second quarter. Bessemer Group Inc. now owns 1,461 shares of the asset manager’s stock valued at $143,000 after purchasing an additional 211 shares in the last quarter. Finally, Atria Investments LLC purchased a new stake in Northern Trust Corporation during the second quarter valued at $200,000. 81.92% of the stock is currently owned by institutional investors.
In other Northern Trust Corporation news, EVP Aileen B. Blake sold 1,000 shares of Northern Trust Corporation stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $90.00, for a total value of $90,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen N. Potter sold 48,110 shares of Northern Trust Corporation stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $95.20, for a total value of $4,580,072.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,673 shares of company stock worth $12,394,090. 1.27% of the stock is owned by insiders.
Northern Trust Corporation (NASDAQ:NTRS) traded up 0.38% on Friday, hitting $88.14. 240,110 shares of the stock were exchanged. Northern Trust Corporation has a 52-week low of $66.40 and a 52-week high of $99.30. The stock’s 50 day moving average price is $88.36 and its 200 day moving average price is $89.73. The firm has a market cap of $20.14 billion, a PE ratio of 20.01 and a beta of 0.92.
Northern Trust Corporation (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, July 19th. The asset manager reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $1.33 billion during 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 firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 earnings per share. Equities research analysts forecast that Northern Trust Corporation will post $4.72 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 1st will be issued a $0.42 dividend. This is a positive change from Northern Trust Corporation’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a yield of 1.91%. The ex-dividend date is Wednesday, August 30th. Northern Trust Corporation’s payout ratio is 38.18%.
Northern Trust Corporation declared that its board has authorized a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the asset manager to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
NTRS has been the topic of a number of recent research reports. Deutsche Bank AG decreased their price target on shares of Northern Trust Corporation from $103.00 to $93.00 and set a “hold” rating on the stock in a research note on Thursday, July 20th. Morgan Stanley reissued an “underweight” rating and issued a $86.00 target price (up previously from $80.00) on shares of Northern Trust Corporation in a research note on Friday, July 7th. Zacks Investment Research downgraded shares of Northern Trust Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 28th. Bank of America Corporation reduced their target price on shares of Northern Trust Corporation from $106.00 to $97.00 and set a “buy” rating on the stock in a research note on Thursday, July 20th. Finally, BidaskClub downgraded shares of Northern Trust Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Northern Trust Corporation presently has an average rating of “Hold” and a consensus price target of $94.57.
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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