Wilkins Investment Counsel Inc. Has $12.40 Million Stake in Northern Trust Corporation (NASDAQ:NTRS)

Wilkins Investment Counsel Inc. lessened its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 0.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,585 shares of the asset manager’s stock after selling 340 shares during the quarter. Northern Trust Corporation accounts for about 3.9% of Wilkins Investment Counsel Inc.’s holdings, making the stock its 2nd biggest holding. Wilkins Investment Counsel Inc. owned approximately 0.06% of Northern Trust Corporation worth $12,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in NTRS. BlackRock Inc. boosted its stake in Northern Trust Corporation by 2,771.9% during the first quarter. BlackRock Inc. now owns 13,279,770 shares of the asset manager’s stock worth $1,149,760,000 after buying an additional 12,817,363 shares during the period. FMR LLC lifted its position in shares of Northern Trust Corporation by 38.4% during the first quarter. FMR LLC now owns 12,370,754 shares of the asset manager’s stock worth $1,071,060,000 after purchasing an additional 3,430,332 shares in the last quarter. Findlay Park Partners LLP lifted its position in shares of Northern Trust Corporation by 82.8% during the first quarter. Findlay Park Partners LLP now owns 2,742,643 shares of the asset manager’s stock worth $237,458,000 after purchasing an additional 1,242,643 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of Northern Trust Corporation by 30.2% during the first quarter. Primecap Management Co. CA now owns 2,553,950 shares of the asset manager’s stock worth $221,121,000 after purchasing an additional 592,550 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Northern Trust Corporation by 3.9% during the first quarter. Vanguard Group Inc. now owns 13,891,932 shares of the asset manager’s stock worth $1,202,764,000 after purchasing an additional 527,025 shares in the last quarter. 81.92% of the stock is owned by institutional investors.

In related news, EVP Aileen B. Blake sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $90.00, for a total transaction of $90,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jana R. Schreuder sold 5,538 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $88.33, for a total value of $489,171.54. The disclosure for this sale can be found here. Insiders have sold a total of 132,673 shares of company stock worth $12,394,090 in the last three months. 1.27% of the stock is owned by insiders.

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Several brokerages have recently issued reports on NTRS. Zacks Investment Research raised shares of Northern Trust Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. BidaskClub raised shares of Northern Trust Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Wells Fargo & Company began coverage on shares of Northern Trust Corporation in a report on Wednesday, August 9th. They issued a “market perform” rating and a $90.00 target price on the stock. Bank of America Corporation reaffirmed a “buy” rating and issued a $98.00 target price (up previously from $61.32) on shares of Northern Trust Corporation in a report on Friday, May 26th. Finally, UBS AG raised shares of Northern Trust Corporation from a “neutral” rating to a “buy” rating and raised their target price for the company from $92.00 to $100.00 in a report on Friday, September 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $94.57.

Shares of Northern Trust Corporation (NTRS) traded up 0.03% during trading on Friday, hitting $87.84. 368,531 shares of the stock were exchanged. The stock has a market cap of $20.07 billion, a PE ratio of 19.94 and a beta of 0.92. Northern Trust Corporation has a one year low of $66.40 and a one year high of $99.30. The stock’s 50 day moving average price is $88.36 and its 200 day moving average price is $89.73.

Northern Trust Corporation (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, July 19th. The asset manager reported $1.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.05). Northern Trust Corporation had a return on equity of 12.08% and a net margin of 20.21%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the business posted $1.09 EPS. Northern Trust Corporation’s revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts predict that Northern Trust Corporation will post $4.72 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 1st will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Wednesday, August 30th. This is a positive change from Northern Trust Corporation’s previous quarterly dividend of $0.38. Northern Trust Corporation’s dividend payout ratio (DPR) is presently 38.18%.

Northern Trust Corporation declared that its board has approved a stock buyback program on Wednesday, June 28th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the asset manager to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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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