Todays Report: Today: Northern Trust Corp. (NTRS) Stake Decreased by Fisher Asset Management LLC

Today: Northern Trust Corp. (NTRS) Stake Decreased by Fisher Asset Management LLC

Fisher Asset Management LLC decreased its position in shares of Northern Trust Corp. (NASDAQ:NTRS) by 13.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 89,690 shares of the company’s stock after selling 13,558 shares during the period. Fisher Asset Management LLC’s holdings in Northern Trust Corp. were worth $6,098,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in NTRS. Envestnet Asset Management Inc. increased its stake 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 worth $2,365,000 after buying an additional 1,324 shares during the last quarter. Panagora Asset Management Inc. increased its position 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 increased its position 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. BlueMountain Capital Management LLC acquired a new position in Northern Trust Corp. during the first quarter worth about $254,000. Finally, West Oak Capital LLC increased its position in Northern Trust Corp. by 0.4% in the second quarter. West Oak Capital LLC now owns 17,315 shares of the company’s stock worth $1,147,000 after buying an additional 65 shares during the last quarter. 79.70% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Northern Trust Corp. (NASDAQ:NTRS) traded down 1.90% during midday trading on Monday, reaching $80.59. 1,325,710 shares of the company traded hands. The firm has a market capitalization of $18.25 billion, a PE ratio of 19.20 and a beta of 1.02. The stock has a 50 day moving average price of $74.90 and a 200 day moving average price of $70.39. Northern Trust Corp. has a 1-year low of $54.38 and a 1-year high of $83.09.

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

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Friday, December 2nd will be given a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $1.52 annualized dividend and a yield of 1.89%. Northern Trust Corp.’s dividend payout ratio is presently 36.45%.

NTRS has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Northern Trust Corp. from a “buy” rating to a “hold” rating in a report on Thursday, October 20th. Deutsche Bank AG set a $71.00 price target on shares of Northern Trust Corp. and gave the company a “hold” rating in a report on Friday, August 5th. lifted their price target on shares of Northern Trust Corp. from $70.00 to $73.00 and gave the company an “underperform” rating in a report on Friday, September 23rd. Credit Suisse Group AG initiated coverage on shares of Northern Trust Corp. in a report on Tuesday, November 22nd. They set a “neutral” rating and a $71.00 price target on the stock. Finally, Jefferies Group reaffirmed a “hold” rating and set a $77.00 price target on shares of Northern Trust Corp. in a report on Monday, October 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned 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 other Northern Trust Corp. news, Chairman Frederick H. Waddell sold 160,367 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $69.81, for a total value of $11,195,220.27. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Steven L. Fradkin sold 323,192 shares of the company’s stock in a transaction that occurred on Wednesday, November 16th. The stock was 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. 1.90% of the stock is owned by company insiders.

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

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