HighTower Advisors LLC lifted its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 15.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,023 shares of the asset manager’s stock after acquiring an additional 3,097 shares during the quarter. HighTower Advisors LLC’s holdings in Northern Trust Corporation were worth $2,249,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank boosted 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 acquiring an additional 382 shares in the last quarter. Dupont Capital Management Corp acquired a new position in Northern Trust Corporation during the 2nd quarter worth about $107,000. Bessemer Group Inc. lifted its holdings in Northern Trust Corporation by 16.9% during the 2nd quarter. Bessemer Group Inc. now owns 1,461 shares of the asset manager’s stock worth $143,000 after buying an additional 211 shares during the period. Atria Investments LLC acquired a new position in Northern Trust Corporation during the 2nd quarter worth about $200,000. Finally, Legacy Capital Partners Inc. acquired a new position in Northern Trust Corporation during the 2nd quarter worth about $204,000. 81.89% of the stock is currently owned by institutional investors.
Several research firms have recently weighed in on NTRS. Citigroup Inc. reissued a “neutral” rating and issued a $92.00 price objective (up from $90.00) on shares of Northern Trust Corporation in a research report on Monday, October 9th. Zacks Investment Research raised Northern Trust Corporation from a “sell” rating to a “hold” rating in a research report on Monday, September 25th. UBS AG raised Northern Trust Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $92.00 to $100.00 in a research report on Friday, September 8th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $97.00 target price on shares of Northern Trust Corporation in a research report on Friday, August 18th. Finally, BidaskClub raised Northern Trust Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Northern Trust Corporation currently has a consensus rating of “Hold” and an average price target of $95.93.
Northern Trust Corporation (NTRS) traded down 0.81% during trading on Tuesday, reaching $91.18. The company had a trading volume of 132,555 shares. The firm has a market capitalization of $20.83 billion, a PE ratio of 20.70 and a beta of 0.93. Northern Trust Corporation has a 12-month low of $69.46 and a 12-month high of $99.30. The firm’s 50 day moving average price is $90.23 and its 200 day moving average price is $90.28.
Northern Trust Corporation (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 19th. The asset manager reported $1.18 EPS for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.05). The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. Northern Trust Corporation had a net margin of 20.21% and a return on equity of 12.08%. Northern Trust Corporation’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $1.09 earnings per share. Equities research analysts forecast that Northern Trust Corporation will post $4.69 EPS for the current year.
Northern Trust Corporation announced that its Board of Directors has authorized a share repurchase plan on Wednesday, June 28th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the asset manager to repurchase up to 3.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
In related news, EVP Aileen B. Blake sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $94.00, for a total transaction of $94,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Teresa Parker sold 11,399 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was 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 sold 166,094 shares of company stock valued at $15,115,309 over the last quarter. Company insiders own 1.27% of the company’s stock.
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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