Today, Northern Trust Corp. (NTRS) Position Decreased by State Treasurer State of Michigan

Today, Northern Trust Corp. (NTRS) Position Decreased by State Treasurer State of Michigan

State Treasurer State of Michigan lowered its position in shares of Northern Trust Corp. (NASDAQ:NTRS) by 0.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 100,306 shares of the company’s stock after selling 200 shares during the period. State Treasurer State of Michigan’s holdings in Northern Trust Corp. were worth $6,820,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bank of Montreal Can bought a new stake in shares of Northern Trust Corp. during the second quarter worth $36,022,000. Nuance Investments LLC boosted its stake in shares of Northern Trust Corp. by 5.6% in the second quarter. Nuance Investments LLC now owns 641,461 shares of the company’s stock worth $42,503,000 after buying an additional 34,261 shares in the last quarter. Confluence Investment Management LLC boosted its stake in shares of Northern Trust Corp. by 9.6% in the second quarter. Confluence Investment Management LLC now owns 894,711 shares of the company’s stock worth $59,284,000 after buying an additional 78,216 shares in the last quarter. HL Financial Services LLC boosted its stake in shares of Northern Trust Corp. by 3.1% in the second quarter. HL Financial Services LLC now owns 638,250 shares of the company’s stock worth $42,290,000 after buying an additional 18,903 shares in the last quarter. Finally, Brown Advisory Inc. boosted its stake in shares of Northern Trust Corp. by 11.0% in the second quarter. Brown Advisory Inc. now owns 120,682 shares of the company’s stock valued at $7,997,000 after buying an additional 12,004 shares during the period. Institutional investors and hedge funds own 81.31% of the company’s stock.

Northern Trust Corp. (NASDAQ:NTRS) remained flat at $82.02 during trading on Thursday. The company had a trading volume of 1,191,514 shares. The company has a 50-day moving average of $74.53 and a 200 day moving average of $70.29. The company has a market cap of $18.57 billion, a P/E ratio of 19.54 and a beta of 1.02. Northern Trust Corp. has a 52-week low of $54.38 and a 52-week high of $83.09.

Northern Trust Corp. (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, October 19th. The company reported $1.08 EPS for the quarter, missing the Zacks’ consensus estimate of $1.09 by $0.01. The firm earned $1.22 billion during the quarter, compared to analyst estimates of $1.25 billion. Northern Trust Corp. had a return on equity of 11.55% and a net margin of 19.58%. Northern Trust Corp.’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.96 earnings per share. On average, analysts forecast that Northern Trust Corp. will post $4.28 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Friday, December 2nd will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Wednesday, November 30th. Northern Trust Corp.’s dividend payout ratio (DPR) is currently 36.45%.

Several equities research analysts have commented on NTRS shares. Zacks Investment Research upgraded shares of Northern Trust Corp. from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Wednesday, October 5th. Jefferies Group reiterated a “hold” rating and issued a $77.00 price target on shares of Northern Trust Corp. in a research report on Monday, October 10th. Deutsche Bank AG boosted their price target on shares of Northern Trust Corp. from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Friday, September 9th. Credit Suisse Group AG started coverage on shares of Northern Trust Corp. in a research report on Tuesday. They issued a “neutral” rating and a $71.00 price target on the stock. Finally, boosted their price target on shares of Northern Trust Corp. from $70.00 to $73.00 and gave the stock an “underperform” rating in a research report on Friday, September 23rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a strong buy rating to the company. Northern Trust Corp. presently has an average rating of “Hold” and a consensus price target of $73.65.

In other news, Chairman Frederick H. Waddell sold 160,367 shares of Northern Trust Corp. stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $69.81, for a total transaction of $11,195,220.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Steven L. Fradkin sold 323,192 shares of Northern Trust Corp. stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $80.98, for a total value of $26,172,088.16. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

About Northern Trust Corp.

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