Raymond James Trust N.A. grew its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,626 shares of the asset manager’s stock after acquiring an additional 112 shares during the quarter. Raymond James Trust N.A.’s holdings in Northern Trust Corporation were worth $352,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of NTRS. Vanguard Group Inc. raised its stake in shares of Northern Trust Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 13,891,932 shares of the asset manager’s stock worth $1,202,764,000 after purchasing an additional 527,025 shares during the last quarter. BlackRock Inc. raised its stake in shares of Northern Trust Corporation by 2,771.9% in the first quarter. BlackRock Inc. now owns 13,279,770 shares of the asset manager’s stock worth $1,149,760,000 after purchasing an additional 12,817,363 shares during the last quarter. FMR LLC raised its stake in shares of Northern Trust Corporation by 38.4% in the first quarter. FMR LLC now owns 12,370,754 shares of the asset manager’s stock worth $1,071,060,000 after purchasing an additional 3,430,332 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Northern Trust Corporation by 0.8% in the first quarter. JPMorgan Chase & Co. now owns 8,226,919 shares of the asset manager’s stock worth $712,287,000 after purchasing an additional 68,263 shares during the last quarter. Finally, Findlay Park Partners LLP raised its stake in shares of Northern Trust Corporation by 82.8% in the first quarter. Findlay Park Partners LLP now owns 2,742,643 shares of the asset manager’s stock worth $237,458,000 after purchasing an additional 1,242,643 shares during the last quarter. 81.89% of the stock is owned by institutional investors and hedge funds.

NTRS has been the subject of several recent research reports. Bank of America Corporation reiterated a “buy” rating and set a $98.00 price target (up from $61.32) on shares of Northern Trust Corporation in a research report on Friday, May 26th. Credit Suisse Group reiterated a “hold” rating and set a $90.00 price target on shares of Northern Trust Corporation in a research report on Sunday, May 28th. Zacks Investment Research cut Northern Trust Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. BidaskClub upgraded Northern Trust Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $97.00 price target on shares of Northern Trust Corporation in a research report on Thursday, June 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $94.57.

Northern Trust Corporation (NTRS) opened at 87.96 on Monday. The firm’s 50-day moving average price is $88.36 and its 200-day moving average price is $89.74. Northern Trust Corporation has a 1-year low of $66.39 and a 1-year high of $99.30. The firm has a market cap of $20.10 billion, a price-to-earnings ratio of 19.97 and a beta of 0.92.

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

Northern Trust Corporation announced that its board has initiated a stock repurchase program on Wednesday, June 28th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the asset manager to buy up to 3.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 1st will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Wednesday, August 30th. This is a boost from Northern Trust Corporation’s previous quarterly dividend of $0.38. Northern Trust Corporation’s dividend payout ratio is 38.18%.

In other Northern Trust Corporation news, insider Stephen N. Potter sold 28,469 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $99.08, for a total transaction of $2,820,708.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Robert P. Browne sold 11,000 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $90.21, for a total value of $992,310.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,563 shares of company stock worth $7,814,018. 1.27% of the stock is owned by insiders.

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Northern Trust Corporation Profile

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.

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

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