Trade Report: Today, British Columbia Investment Management Corp Boosts Stake in Northern Trust Corp. (NTRS)

Today, British Columbia Investment Management Corp Boosts Stake in Northern Trust Corp. (NTRS)

British Columbia Investment Management Corp increased its stake in shares of Northern Trust Corp. (NASDAQ:NTRS) by 5.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 165,787 shares of the company’s stock after buying an additional 7,993 shares during the period. British Columbia Investment Management Corp’s holdings in Northern Trust Corp. were worth $11,272,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NTRS. Envestnet Asset Management Inc. boosted its position in shares of Northern Trust Corp. by 3.8% in the first quarter. Envestnet Asset Management Inc. now owns 36,283 shares of the company’s stock valued at $2,365,000 after buying an additional 1,324 shares during the period. A.R.T. Advisors LLC acquired a new stake in Northern Trust Corp. during the first quarter worth about $1,530,000. Panagora Asset Management Inc. boosted its stake in Northern Trust Corp. by 269.5% in the first quarter. Panagora Asset Management Inc. now owns 199,161 shares of the company’s stock worth $12,979,000 after buying an additional 145,265 shares during the last quarter. Arizona State Retirement System boosted its stake in Northern Trust Corp. by 1.6% in the first quarter. Arizona State Retirement System now owns 58,404 shares of the company’s stock worth $3,806,000 after buying an additional 900 shares during the last quarter. Finally, Lowe Brockenbrough & Co. Inc. acquired a new stake in Northern Trust Corp. during the first quarter worth about $595,000. 81.31% of the stock is owned by hedge funds and other institutional investors.

Shares of Northern Trust Corp. (NASDAQ:NTRS) traded up 0.16% during trading on Friday, hitting $82.15. The stock had a trading volume of 471,621 shares. The firm’s 50 day moving average is $74.90 and its 200 day moving average is $70.39. Northern Trust Corp. has a 1-year low of $54.38 and a 1-year high of $83.09. The company has a market cap of $18.60 billion, a PE ratio of 19.57 and a beta of 1.02.

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

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Friday, December 2nd will be paid a $0.38 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $1.52 annualized dividend and a yield of 1.85%. Northern Trust Corp.’s payout ratio is 36.45%.

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

In related news, Vice Chairman William L. Morrison sold 98,239 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $72.57, for a total value of $7,129,204.23. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Frederick H. Waddell sold 160,367 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $69.81, for a total value of $11,195,220.27. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

About Northern Trust Corp.

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 around the world. The Company’s segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.

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