Bokf Na trimmed its position in shares of Northern Trust Co. (NASDAQ:NTRS – Free Report) by 31.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 635 shares of the asset manager’s stock after selling 287 shares during the period. Bokf Na’s holdings in Northern Trust were worth $47,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Northern Trust by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 22,711,584 shares of the asset manager’s stock worth $2,644,763,000 after buying an additional 457,748 shares in the last quarter. BlackRock Inc. raised its stake in shares of Northern Trust by 0.5% in the second quarter. BlackRock Inc. now owns 15,457,299 shares of the asset manager’s stock valued at $1,146,004,000 after acquiring an additional 71,725 shares in the last quarter. FMR LLC boosted its holdings in Northern Trust by 7.5% in the first quarter. FMR LLC now owns 10,460,839 shares of the asset manager’s stock valued at $921,914,000 after purchasing an additional 731,301 shares during the period. State Street Corp increased its holdings in Northern Trust by 2.8% during the 2nd quarter. State Street Corp now owns 8,788,466 shares of the asset manager’s stock worth $657,985,000 after purchasing an additional 237,230 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in Northern Trust by 17.8% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,108,597 shares of the asset manager’s stock valued at $450,221,000 after purchasing an additional 772,279 shares in the last quarter. 81.64% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Northern Trust
In related news, CEO Michael O’grady bought 20,000 shares of the company’s stock in a transaction dated Monday, October 23rd. The shares were acquired at an average price of $65.10 per share, with a total value of $1,302,000.00. Following the completion of the acquisition, the chief executive officer now owns 219,779 shares in the company, valued at approximately $14,307,612.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Northern Trust news, CFO Jason J. Tyler bought 1,350 shares of the business’s stock in a transaction dated Tuesday, October 24th. The stock was acquired at an average cost of $64.55 per share, with a total value of $87,142.50. Following the purchase, the chief financial officer now owns 41,077 shares in the company, valued at approximately $2,651,520.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael O’grady acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The shares were acquired at an average cost of $65.10 per share, for a total transaction of $1,302,000.00. Following the acquisition, the chief executive officer now directly owns 219,779 shares of the company’s stock, valued at $14,307,612.90. The disclosure for this purchase can be found here. Insiders have purchased 26,356 shares of company stock worth $1,711,872 in the last quarter. Company insiders own 0.63% of the company’s stock.
Northern Trust Stock Performance
Northern Trust (NASDAQ:NTRS – Get Free Report) last announced its earnings results on Wednesday, October 18th. The asset manager reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.01). The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. Northern Trust had a net margin of 10.44% and a return on equity of 13.06%. The business’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.80 earnings per share. Equities research analysts predict that Northern Trust Co. will post 6.07 earnings per share for the current year.
Northern Trust Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Thursday, December 7th. Northern Trust’s dividend payout ratio is currently 56.93%.
Analyst Upgrades and Downgrades
NTRS has been the topic of a number of recent research reports. Bank of America initiated coverage on shares of Northern Trust in a research note on Tuesday, October 10th. They set a “buy” rating on the stock. Morgan Stanley dropped their price objective on shares of Northern Trust from $82.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 2nd. The Goldman Sachs Group lowered their target price on shares of Northern Trust from $87.00 to $76.00 and set a “neutral” rating for the company in a research note on Tuesday, October 3rd. Evercore ISI cut their price target on Northern Trust from $75.00 to $73.00 and set an “in-line” rating on the stock in a research note on Thursday, October 19th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $71.00 price objective (down from $90.00) on shares of Northern Trust in a research report on Thursday, October 19th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $78.55.
Northern Trust Profile
Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.
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