Raymond James Financial Services Advisors Inc. raised its stake in Northern Trust Corporation (NASDAQ:NTRS) by 11.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,364 shares of the asset manager’s stock after acquiring an additional 8,072 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Northern Trust Corporation were worth $7,715,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of NTRS. Pennsylvania Trust Co boosted its stake in shares of Northern Trust Corporation by 4.5% in the 2nd quarter. Pennsylvania Trust Co now owns 45,615 shares of the asset manager’s stock valued at $4,434,000 after purchasing an additional 1,945 shares during the last quarter. Boston Advisors LLC boosted its stake in shares of Northern Trust Corporation by 6,051.0% in the 2nd quarter. Boston Advisors LLC now owns 160,540 shares of the asset manager’s stock valued at $15,606,000 after purchasing an additional 157,930 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Northern Trust Corporation by 4.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 675,307 shares of the asset manager’s stock valued at $65,647,000 after purchasing an additional 26,164 shares during the last quarter. Eaton Vance Management boosted its stake in shares of Northern Trust Corporation by 0.3% in the 2nd quarter. Eaton Vance Management now owns 753,651 shares of the asset manager’s stock valued at $73,262,000 after purchasing an additional 2,397 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Northern Trust Corporation by 0.7% in the 2nd quarter. Principal Financial Group Inc. now owns 337,497 shares of the asset manager’s stock valued at $32,808,000 after purchasing an additional 2,298 shares during the last quarter. Hedge funds and other institutional investors own 81.90% of the company’s stock.

Several research analysts have recently issued reports on NTRS shares. BidaskClub raised shares of Northern Trust Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Royal Bank Of Canada reissued a “buy” rating and set a $97.00 price objective on shares of Northern Trust Corporation in a research note on Thursday, June 29th. Morgan Stanley reissued an “underweight” rating and set a $86.00 price objective (up previously from $80.00) on shares of Northern Trust Corporation in a research note on Friday, July 7th. Buckingham Research reissued a “neutral” rating and set a $103.00 price objective (up previously from $93.00) on shares of Northern Trust Corporation in a research note on Monday, July 10th. Finally, Zacks Investment Research raised shares of Northern Trust Corporation from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research note on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Northern Trust Corporation has an average rating of “Hold” and a consensus target price of $95.93.

Northern Trust Corporation (NASDAQ:NTRS) last posted 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). The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. Northern Trust Corporation had a return on equity of 12.08% and a net margin of 20.21%. Northern Trust Corporation’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.09 earnings per share.

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 outstanding shares. This repurchase authorization permits the asset manager to purchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Friday, September 1st were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.79%. This is a boost from Northern Trust Corporation’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Wednesday, August 30th. Northern Trust Corporation’s dividend payout ratio is presently 38.18%.

In other Northern Trust Corporation news, insider Teresa Parker sold 11,399 shares of the stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $87.65, for a total transaction of $999,122.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Aileen B. Blake sold 1,000 shares of the stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $94.00, for a total value of $94,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 166,094 shares of company stock worth $15,115,309 over the last 90 days. Company insiders own 1.27% of the company’s stock.

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Northern Trust Corporation Company 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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