New York State Teachers Retirement System Has $18.55 Million Stock Position in Northern Trust Corporation (NASDAQ:NTRS)

New York State Teachers Retirement System cut its stake in Northern Trust Corporation (NASDAQ:NTRS) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 188,001 shares of the asset manager’s stock after selling 5,819 shares during the period. New York State Teachers Retirement System owned 0.10% of Northern Trust worth $18,546,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Northern Trust in the 4th quarter valued at $83,550,000. Royal Bank of Canada lifted its holdings in Northern Trust by 60.2% in the fourth quarter. Royal Bank of Canada now owns 1,497,484 shares of the asset manager’s stock valued at $153,493,000 after buying an additional 562,976 shares during the period. Cerity Partners LLC boosted its position in Northern Trust by 451.9% during the fourth quarter. Cerity Partners LLC now owns 555,631 shares of the asset manager’s stock valued at $56,866,000 after acquiring an additional 454,956 shares during the last quarter. Raiffeisen Bank International AG bought a new stake in Northern Trust during the fourth quarter valued at $46,197,000. Finally, GAMMA Investing LLC grew its holdings in Northern Trust by 10,340.5% during the 1st quarter. GAMMA Investing LLC now owns 445,602 shares of the asset manager’s stock worth $43,959,000 after acquiring an additional 441,334 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Analyst Ratings Changes

NTRS has been the topic of several research analyst reports. Truist Financial cut their target price on Northern Trust from $98.00 to $92.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. Royal Bank Of Canada set a $123.00 price target on Northern Trust and gave the company an “outperform” rating in a research note on Monday. Morgan Stanley increased their price target on Northern Trust from $103.00 to $106.00 and gave the stock an “underweight” rating in a report on Tuesday. Evercore ISI lifted their price objective on shares of Northern Trust from $108.00 to $121.00 and gave the company an “in-line” rating in a research note on Wednesday. Finally, Wells Fargo & Company dropped their target price on shares of Northern Trust from $118.00 to $111.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $111.83.

Northern Trust Stock Up 3.2%

Shares of NASDAQ NTRS opened at $132.06 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust Corporation has a 1 year low of $80.81 and a 1 year high of $132.12. The stock has a market capitalization of $25.69 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.92 and a beta of 1.26. The company has a 50-day moving average price of $107.63 and a 200-day moving average price of $104.20.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.05. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.95 billion. Northern Trust had a return on equity of 13.73% and a net margin of 13.93%. On average, equities research analysts forecast that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, June 6th. This represents a $3.00 annualized dividend and a yield of 2.27%. Northern Trust’s dividend payout ratio (DPR) is currently 27.99%.

Insiders Place Their Bets

In other Northern Trust news, EVP Clive Bellows sold 3,300 shares of the company’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the sale, the executive vice president directly owned 28,736 shares of the company’s stock, valued at approximately $2,872,163.20. This represents a 10.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Teresa Parker sold 6,467 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $100.62, for a total transaction of $650,709.54. Following the completion of the sale, the insider owned 79,391 shares of the company’s stock, valued at approximately $7,988,322.42. This trade represents a 7.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,772 shares of company stock valued at $981,069 over the last three months. 0.77% of the stock is currently owned by insiders.

About Northern Trust

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, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.