Municipal Employees Retirement System of Michigan increased its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 1.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,870 shares of the asset manager’s stock after buying an additional 90 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Northern Trust Corporation were worth $595,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in NTRS. Trust Department MB Financial Bank N A boosted its position in shares of Northern Trust Corporation by 6.5% in the first quarter. Trust Department MB Financial Bank N A now owns 1,172 shares of the asset manager’s stock valued at $101,000 after buying an additional 72 shares during the last quarter. Kings Point Capital Management bought a new position in shares of Northern Trust Corporation during the first quarter valued at about $101,000. Bessemer Group Inc. boosted its position in shares of Northern Trust Corporation by 689.7% in the fourth quarter. Bessemer Group Inc. now owns 1,303 shares of the asset manager’s stock valued at $116,000 after buying an additional 1,138 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Northern Trust Corporation during the first quarter valued at about $117,000. Finally, Jolley Asset Management LLC boosted its position in shares of Northern Trust Corporation by 25.9% in the first quarter. Jolley Asset Management LLC now owns 1,700 shares of the asset manager’s stock valued at $147,000 after buying an additional 350 shares during the last quarter. Institutional investors and hedge funds own 82.90% of the company’s stock.
Northern Trust Corporation (NASDAQ:NTRS) opened at 94.34 on Friday. The stock has a 50 day moving average price of $90.06 and a 200-day moving average price of $88.11. Northern Trust Corporation has a 12-month low of $61.32 and a 12-month high of $95.63. The firm has a market cap of $21.66 billion, a price-to-earnings ratio of 21.51 and a beta of 0.97.
Northern Trust Corporation (NASDAQ:NTRS) last posted its earnings results on Tuesday, April 25th. The asset manager reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. Northern Trust Corporation had a return on equity of 11.96% and a net margin of 20.20%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the firm earned $0.99 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. Equities analysts forecast that Northern Trust Corporation will post $4.81 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Investors of record on Friday, June 2nd will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Wednesday, May 31st. Northern Trust Corporation’s dividend payout ratio is currently 34.78%.
Several equities research analysts recently weighed in on NTRS shares. Zacks Investment Research cut Northern Trust Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. Bank of America Corporation restated a “buy” rating and set a $98.00 target price (up previously from $61.32) on shares of Northern Trust Corporation in a research note on Friday, May 26th. Credit Suisse Group restated a “hold” rating and set a $90.00 target price on shares of Northern Trust Corporation in a research note on Monday, May 15th. BidaskClub upgraded Northern Trust Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Finally, Deutsche Bank AG decreased their target price on Northern Trust Corporation from $94.00 to $93.00 and set a “hold” rating for the company in a research note on Thursday, April 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Northern Trust Corporation presently has an average rating of “Hold” and an average price target of $90.18.
In other news, insider Stephen N. Potter sold 48,110 shares of Northern Trust Corporation stock in a transaction on Monday, June 19th. The stock was sold at an average price of $95.20, for a total transaction of $4,580,072.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman William L. Morrison sold 25,000 shares of Northern Trust Corporation stock in a transaction on Friday, May 19th. The shares were sold at an average price of $87.28, for a total value of $2,182,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 429,533 shares of company stock worth $39,117,116. 1.27% of the stock is owned by insiders.
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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