Thrivent Financial For Lutherans Increases Holdings in Northern Trust Corporation (NTRS)

Thrivent Financial For Lutherans raised its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,170 shares of the asset manager’s stock after buying an additional 270 shares during the period. Thrivent Financial For Lutherans’ holdings in Northern Trust Corporation were worth $794,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NTRS. Tdam USA Inc. grew its position in shares of Northern Trust Corporation by 0.4% during the 2nd quarter. Tdam USA Inc. now owns 2,629 shares of the asset manager’s stock valued at $255,000 after acquiring an additional 10 shares during the period. Creative Planning grew its position in shares of Northern Trust Corporation by 0.8% during the 2nd quarter. Creative Planning now owns 2,374 shares of the asset manager’s stock valued at $231,000 after acquiring an additional 20 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Northern Trust Corporation by 0.8% during the 1st quarter. Oppenheimer & Co. Inc. now owns 2,821 shares of the asset manager’s stock valued at $244,000 after acquiring an additional 21 shares during the period. Bank of The West grew its position in shares of Northern Trust Corporation by 0.7% during the 2nd quarter. Bank of The West now owns 3,506 shares of the asset manager’s stock valued at $341,000 after acquiring an additional 26 shares during the period. Finally, Wetherby Asset Management Inc. grew its position in shares of Northern Trust Corporation by 0.5% during the 2nd quarter. Wetherby Asset Management Inc. now owns 5,867 shares of the asset manager’s stock valued at $570,000 after acquiring an additional 27 shares during the period. Institutional investors and hedge funds own 81.90% of the company’s stock.

Northern Trust Corporation (NASDAQ:NTRS) opened at 93.27 on Wednesday. The company has a market cap of $21.31 billion, a P/E ratio of 21.17 and a beta of 0.93. Northern Trust Corporation has a one year low of $68.78 and a one year high of $99.30. The company has a 50-day moving average of $89.88 and a 200 day moving average of $90.12.

Northern Trust Corporation (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, July 19th. The asset manager reported $1.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.05). The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. Northern Trust Corporation had a net margin of 20.21% and a return on equity of 12.08%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.09 EPS. Analysts anticipate that Northern Trust Corporation will post $4.69 earnings per share for the current year.

Northern Trust Corporation announced that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

The company also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Friday, September 1st were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.80%. The ex-dividend date was 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 currently 38.18%.

A number of equities research analysts have recently issued reports on NTRS shares. Deutsche Bank AG cut their price objective on shares of Northern Trust Corporation from $103.00 to $93.00 and set a “hold” rating for the company in a research report on Thursday, July 20th. Zacks Investment Research downgraded shares of Northern Trust Corporation from a “hold” rating to a “sell” rating in a research report on Monday, August 28th. Morgan Stanley reissued an “underweight” rating and set a $86.00 price objective (up previously from $80.00) on shares of Northern Trust Corporation in a research report on Friday, July 7th. UBS AG raised shares of Northern Trust Corporation from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $92.00 to $100.00 in a research report on Friday, September 8th. Finally, Bank of America Corporation cut their price objective on shares of Northern Trust Corporation from $106.00 to $97.00 and set a “buy” rating for the company in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Northern Trust Corporation currently has a consensus rating of “Hold” and a consensus price target of $95.93.

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In related news, insider Teresa Parker sold 11,399 shares of the firm’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $87.65, for a total transaction of $999,122.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Jana R. Schreuder sold 5,538 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $88.33, for a total transaction of $489,171.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 166,094 shares of company stock worth $15,115,309. 1.27% of the stock is 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.

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Institutional Ownership by Quarter for Northern Trust Corporation (NASDAQ:NTRS)

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