Commonwealth Bank of Australia Buys 1,809 Shares of Northern Trust Co. (NASDAQ:NTRS)

Commonwealth Bank of Australia boosted its stake in Northern Trust Co. (NASDAQ:NTRS) by 8.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,532 shares of the asset manager’s stock after purchasing an additional 1,809 shares during the quarter. Commonwealth Bank of Australia’s holdings in Northern Trust were worth $2,115,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Litman Gregory Asset Management LLC bought a new stake in shares of Northern Trust in the second quarter worth about $25,000. Resources Investment Advisors Inc. boosted its position in shares of Northern Trust by 194.2% during the first quarter. Resources Investment Advisors Inc. now owns 306 shares of the asset manager’s stock worth $28,000 after buying an additional 202 shares during the period. Trust Co. of Vermont boosted its position in shares of Northern Trust by 750.0% during the second quarter. Trust Co. of Vermont now owns 340 shares of the asset manager’s stock worth $31,000 after buying an additional 300 shares during the period. Kavar Capital Partners LLC acquired a new position in shares of Northern Trust during the second quarter worth about $32,000. Finally, Oakworth Capital Inc. acquired a new position in shares of Northern Trust during the second quarter worth about $34,000. Institutional investors and hedge funds own 80.88% of the company’s stock.

In other news, CFO Biff Bowman sold 46,204 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $92.81, for a total value of $4,288,193.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert P. Browne sold 31,595 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $99.47, for a total value of $3,142,754.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,567 shares of company stock valued at $10,639,832. Insiders own 1.15% of the company’s stock.

NTRS has been the subject of several recent research reports. Citigroup cut Northern Trust from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $94.00 to $85.00 in a research report on Friday, July 12th. Morgan Stanley set a $89.00 price objective on Northern Trust and gave the stock a “sell” rating in a research report on Friday, August 9th. Bank of America reaffirmed a “neutral” rating and set a $97.00 price objective (down from $107.00) on shares of Northern Trust in a research report on Thursday, June 6th. BidaskClub raised Northern Trust from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Zacks Investment Research cut Northern Trust from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $104.00.

Shares of NASDAQ NTRS opened at $97.37 on Thursday. The stock has a 50 day moving average price of $90.45 and a 200 day moving average price of $91.60. Northern Trust Co. has a 52 week low of $75.96 and a 52 week high of $107.45. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market capitalization of $20.30 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.66 and a beta of 1.19.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, July 24th. The asset manager reported $1.75 EPS for the quarter, beating the consensus estimate of $1.68 by $0.07. Northern Trust had a return on equity of 15.74% and a net margin of 22.20%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the prior year, the firm posted $1.68 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. As a group, research analysts forecast that Northern Trust Co. will post 6.59 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.88%. This is a boost from Northern Trust’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, September 12th. Northern Trust’s dividend payout ratio (DPR) is presently 35.66%.

Northern Trust Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Corporate & Institutional Services (C&IS) and Wealth Management.

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

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