California State Teachers Retirement System Grows Holdings in Northern Trust Co. (NASDAQ:NTRS)

California State Teachers Retirement System raised its position in shares of Northern Trust Co. (NASDAQ:NTRS – Get Rating) by 2.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 339,184 shares of the asset manager’s stock after purchasing an additional 6,714 shares during the period. California State Teachers Retirement System’s holdings in Northern Trust were worth $29,021,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. National Pension Service raised its holdings in Northern Trust by 2.0% during the third quarter. National Pension Service now owns 283,790 shares of the asset manager’s stock valued at $24,483,000 after acquiring an additional 5,464 shares during the period. CENTRAL TRUST Co grew its position in shares of Northern Trust by 17.0% during the third quarter. CENTRAL TRUST Co now owns 3,099 shares of the asset manager’s stock worth $265,000 after purchasing an additional 450 shares in the last quarter. Glenmede Trust Co. NA raised its stake in Northern Trust by 17.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 550,227 shares of the asset manager’s stock valued at $47,076,000 after purchasing an additional 82,786 shares during the period. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in Northern Trust by 4.9% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,468 shares of the asset manager’s stock worth $639,000 after purchasing an additional 349 shares in the last quarter. Finally, Kentucky Retirement Systems boosted its stake in Northern Trust by 5.5% in the 3rd quarter. Kentucky Retirement Systems now owns 16,312 shares of the asset manager’s stock worth $1,396,000 after purchasing an additional 846 shares during the period. Hedge funds and other institutional investors own 81.44% of the company’s stock.

Insider Buying and Selling

In other Northern Trust news, CFO Jason J. Tyler sold 1,764 shares of the business’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $96.98, for a total transaction of $171,072.72. Following the transaction, the chief financial officer now owns 30,470 shares in the company, valued at $2,954,980.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Lauren E. Allnutt sold 559 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $87.30, for a total transaction of $48,800.70. Following the completion of the sale, the executive vice president now directly owns 5,576 shares of the company’s stock, valued at approximately $486,784.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jason J. Tyler sold 1,764 shares of the business’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $96.98, for a total value of $171,072.72. Following the transaction, the chief financial officer now owns 30,470 shares of the company’s stock, valued at approximately $2,954,980.60. The disclosure for this sale can be found here. 0.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NTRS shares. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Northern Trust from $95.00 to $90.00 in a research report on Friday, January 20th. Barclays lifted their price target on shares of Northern Trust from $105.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, January 3rd. The Goldman Sachs Group downgraded shares of Northern Trust from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $97.00 to $95.00 in a report on Wednesday, January 4th. StockNews.com assumed coverage on Northern Trust in a research report on Thursday. They set a “hold” rating for the company. Finally, Morgan Stanley boosted their target price on Northern Trust from $97.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $101.05.

Northern Trust Stock Performance

Northern Trust stock opened at $81.73 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.46. Northern Trust Co. has a twelve month low of $76.15 and a twelve month high of $121.25. The company’s 50-day moving average price is $94.34 and its 200-day moving average price is $90.94. The company has a market cap of $17.02 billion, a PE ratio of 13.31 and a beta of 1.08.

Northern Trust (NASDAQ:NTRS – Get Rating) last issued its quarterly earnings data on Thursday, January 19th. The asset manager reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($1.10). The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.75 billion. Northern Trust had a return on equity of 14.89% and a net margin of 17.24%. The company’s revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.91 earnings per share. On average, equities research analysts forecast that Northern Trust Co. will post 6.86 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, April 1st. Investors of record on Friday, March 10th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $3.00 annualized dividend and a yield of 3.67%. Northern Trust’s payout ratio is presently 48.86%.

About Northern Trust

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Northern Trust Corp. is a financial holding company, which engages in the provision of asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals. It operates through the following segments: Corporate & Institutional Services and Wealth Management.