Private Advisor Group LLC Sells 10,388 Shares of Northern Trust Corporation (NTRS)
Private Advisor Group LLC lowered its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 79.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,637 shares of the asset manager’s stock after selling 10,388 shares during the period. Private Advisor Group LLC’s holdings in Northern Trust Corporation were worth $260,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in NTRS. Kings Point Capital Management bought a new position in shares of Northern Trust Corporation during the 1st quarter valued at $101,000. Huntington National Bank grew its holdings in shares of Northern Trust Corporation by 54.0% during the 2nd 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 during the last quarter. Dupont Capital Management Corp bought a new position in shares of Northern Trust Corporation during the 2nd quarter valued at $107,000. Bessemer Group Inc. grew its holdings in shares of Northern Trust Corporation by 16.9% during the 2nd 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 during the last quarter. Finally, Atria Investments LLC bought a new position in shares of Northern Trust Corporation during the 2nd quarter valued at $200,000. 81.89% of the stock is currently owned by institutional investors.
Shares of Northern Trust Corporation (NTRS) opened at 89.68 on Thursday. Northern Trust Corporation has a 52-week low of $66.40 and a 52-week high of $99.30. The stock has a market capitalization of $20.49 billion, a PE ratio of 20.36 and a beta of 0.92. The stock has a 50 day moving average of $88.43 and a 200 day moving average of $89.76.
Northern Trust Corporation (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 19th. The asset manager reported $1.18 earnings per share for the quarter, missing the Zacks’ 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 for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the firm earned $1.09 EPS. The company’s revenue was up .5% on a year-over-year basis. Analysts forecast that Northern Trust Corporation will post $4.72 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 1st will be given a dividend of $0.42 per share. This is a boost from Northern Trust Corporation’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.68 dividend on an annualized basis and a yield of 1.87%. Northern Trust Corporation’s payout ratio is 38.18%.
Northern Trust Corporation declared that its board has approved a share buyback program on Wednesday, June 28th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to purchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other Northern Trust Corporation news, insider Stephen N. Potter sold 28,469 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $99.08, for a total transaction of $2,820,708.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Teresa Parker sold 11,399 shares of the business’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $87.65, for a total transaction of $999,122.35. The disclosure for this sale can be found here. Insiders have sold 84,563 shares of company stock worth $7,814,018 in the last quarter. Company insiders own 1.27% of the company’s stock.
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Several equities analysts recently commented on NTRS shares. Wells Fargo & Company started coverage on shares of Northern Trust Corporation in a report on Wednesday, August 9th. They set a “market perform” rating and a $90.00 target price on the stock. BidaskClub lowered shares of Northern Trust Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Zacks Investment Research raised shares of Northern Trust Corporation from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Wednesday, July 12th. Buckingham Research reaffirmed a “neutral” rating and set a $103.00 target price (up previously from $93.00) on shares of Northern Trust Corporation in a report on Monday, July 10th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $97.00 target price on shares of Northern Trust Corporation in a report on Thursday, June 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Northern Trust Corporation currently has an average rating of “Hold” and a consensus target price 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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