Gateway Investment Advisers LLC decreased its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 3.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,952 shares of the asset manager’s stock after selling 474 shares during the period. Gateway Investment Advisers LLC’s holdings in Northern Trust Corporation were worth $1,259,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Parametrica Management Ltd purchased a new stake in shares of Northern Trust Corporation during the first quarter worth approximately $567,000. Bank of Montreal Can raised its stake in shares of Northern Trust Corporation by 49.1% in the first quarter. Bank of Montreal Can now owns 1,043,696 shares of the asset manager’s stock worth $90,365,000 after buying an additional 343,687 shares during the last quarter. Chesley Taft & Associates LLC raised its stake in shares of Northern Trust Corporation by 0.9% in the first quarter. Chesley Taft & Associates LLC now owns 72,234 shares of the asset manager’s stock worth $6,254,000 after buying an additional 627 shares during the last quarter. Creative Planning raised its stake in shares of Northern Trust Corporation by 117.8% in the first quarter. Creative Planning now owns 2,354 shares of the asset manager’s stock worth $204,000 after buying an additional 1,273 shares during the last quarter. Finally, Confluence Investment Management LLC raised its stake in shares of Northern Trust Corporation by 1.2% in the first quarter. Confluence Investment Management LLC now owns 1,029,300 shares of the asset manager’s stock worth $89,117,000 after buying an additional 12,540 shares during the last quarter. 82.88% of the stock is currently owned by hedge funds and other institutional investors.
Northern Trust Corporation (NTRS) opened at 87.50 on Friday. The company has a 50 day moving average price of $94.30 and a 200-day moving average price of $89.21. Northern Trust Corporation has a 1-year low of $65.92 and a 1-year high of $99.30. The firm has a market capitalization of $20.09 billion, a price-to-earnings ratio of 19.95 and a beta of 0.94.
Northern Trust Corporation (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 19th. The asset manager reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by $0.05. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Northern Trust Corporation had a net margin of 20.21% and a return on equity of 12.08%. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 earnings per share. On average, analysts forecast that Northern Trust Corporation will post $4.76 EPS for the current fiscal year.
Northern Trust Corporation announced that its board has authorized a stock repurchase program on Wednesday, June 28th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the asset manager to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 1st will be issued a dividend of $0.42 per share. The ex-dividend date is Wednesday, August 30th. This is a boost from Northern Trust Corporation’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a yield of 1.92%. Northern Trust Corporation’s dividend payout ratio is currently 34.55%.
COPYRIGHT VIOLATION NOTICE: This article was reported by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this article can be accessed at https://stocknewstimes.com/2017/07/21/gateway-investment-advisers-llc-sells-474-shares-of-northern-trust-corporation-nasdaqntrs.html.
A number of analysts have recently commented on the company. Buckingham Research reissued a “neutral” rating and set a $103.00 price target (up from $93.00) on shares of Northern Trust Corporation in a research note on Monday, July 10th. BidaskClub raised Northern Trust Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 5th. Zacks Investment Research raised Northern Trust Corporation from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research note on Wednesday, July 12th. Morgan Stanley reissued an “underweight” rating and set a $86.00 price target (up from $80.00) on shares of Northern Trust Corporation in a research note on Friday, July 7th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $97.00 price target on shares of Northern Trust Corporation in a research note on Thursday, June 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Northern Trust Corporation has a consensus rating of “Hold” and a consensus price target of $93.08.
In other Northern Trust Corporation news, insider Clair Joyce St sold 17,406 shares of the stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $90.46, for a total value of $1,574,546.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Biff Bowman sold 23,167 shares of the stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $91.77, for a total value of $2,126,035.59. The disclosure for this sale can be found here. Insiders have sold a total of 458,002 shares of company stock valued at $41,937,824 over the last 90 days. 1.27% of the stock is currently owned by company 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.
Want to see what other hedge funds are holding NTRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northern Trust Corporation (NASDAQ:NTRS).
Receive News & Ratings for Northern Trust Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Trust Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
