BNP Paribas Arbitrage SA Purchases 55,703 Shares of Northern Trust Corporation (NTRS)
BNP Paribas Arbitrage SA boosted its position in Northern Trust Corporation (NASDAQ:NTRS) by 68.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,039 shares of the asset manager’s stock after purchasing an additional 55,703 shares during the quarter. BNP Paribas Arbitrage SA owned about 0.06% of Northern Trust Corporation worth $12,598,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NTRS. Atria Investments LLC bought a new stake in Northern Trust Corporation in the 2nd quarter valued at $200,000. Creative Planning boosted its stake in Northern Trust Corporation by 0.8% in the 2nd quarter. Creative Planning now owns 2,374 shares of the asset manager’s stock valued at $231,000 after purchasing an additional 20 shares during the period. State of Alaska Department of Revenue boosted its stake in Northern Trust Corporation by 39.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,596 shares of the asset manager’s stock valued at $835,000 after purchasing an additional 2,440 shares during the period. Palo Capital Inc. boosted its stake in Northern Trust Corporation by 0.5% in the 2nd quarter. Palo Capital Inc. now owns 31,671 shares of the asset manager’s stock valued at $3,079,000 after purchasing an additional 161 shares during the period. Finally, LS Investment Advisors LLC boosted its stake in Northern Trust Corporation by 3.6% in the 2nd quarter. LS Investment Advisors LLC now owns 6,663 shares of the asset manager’s stock valued at $648,000 after purchasing an additional 229 shares during the period. Institutional investors and hedge funds own 82.00% of the company’s stock.
Several research firms recently issued reports on NTRS. Zacks Investment Research upgraded Northern Trust Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. BidaskClub upgraded Northern Trust Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Wells Fargo & Company began coverage on Northern Trust Corporation in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $90.00 price target for the company. Buckingham Research boosted their price target on Northern Trust Corporation from $95.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, October 19th. Finally, UBS AG lifted their price objective on Northern Trust Corporation from $100.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $97.07.
Northern Trust Corporation (NTRS) opened at $92.46 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.37. Northern Trust Corporation has a fifty-two week low of $80.21 and a fifty-two week high of $99.30. The company has a market capitalization of $21,038.73, a price-to-earnings ratio of 20.20, a PEG ratio of 2.04 and a beta of 0.96.
Northern Trust Corporation (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, October 18th. The asset manager reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.08. Northern Trust Corporation had a return on equity of 12.33% and a net margin of 20.27%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the firm earned $1.11 EPS. Northern Trust Corporation’s revenue was up 11.2% on a year-over-year basis. research analysts expect that Northern Trust Corporation will post 4.68 earnings per share for the current fiscal year.
Northern Trust Corporation declared that its Board of Directors has initiated a share repurchase program on Tuesday, July 18th that permits the company to repurchase 9,500,000 shares. This repurchase authorization permits the asset manager to reacquire shares of its stock through open market purchases. Shares 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 will be paid on Monday, January 1st. Stockholders of record on Friday, December 1st will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.82%. Northern Trust Corporation’s dividend payout ratio (DPR) is currently 37.17%.
In other news, Chairman Frederick H. Waddell sold 177,964 shares of the business’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $95.64, for a total transaction of $17,020,476.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman William L. Morrison sold 11,058 shares of the business’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $94.34, for a total value of $1,043,211.72. The disclosure for this sale can be found here. Insiders have sold a total of 338,082 shares of company stock valued at $31,732,330 in the last three months. 1.27% of the stock is owned by insiders.
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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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