Ontario Teachers Pension Plan Board Sells 1,151 Shares of Northern Trust Corporation $NTRS

Ontario Teachers Pension Plan Board lessened its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 12.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,772 shares of the asset manager’s stock after selling 1,151 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Northern Trust were worth $985,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of NTRS. FNY Investment Advisers LLC bought a new stake in Northern Trust during the 2nd quarter worth approximately $25,000. Hantz Financial Services Inc. raised its stake in shares of Northern Trust by 5,225.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 209 shares during the period. Clearstead Trust LLC bought a new stake in shares of Northern Trust in the second quarter valued at about $29,000. GFG Capital LLC bought a new stake in shares of Northern Trust in the second quarter valued at about $35,000. Finally, Zions Bancorporation National Association UT acquired a new position in shares of Northern Trust during the first quarter worth about $29,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Trading Down 1.2%

Shares of Northern Trust stock opened at $127.39 on Monday. The stock has a market cap of $24.09 billion, a P/E ratio of 14.85, a P/E/G ratio of 1.37 and a beta of 1.32. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.58. Northern Trust Corporation has a 12-month low of $81.62 and a 12-month high of $135.48. The business’s 50 day moving average is $129.26 and its 200-day moving average is $122.53.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the company earned $2.22 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities research analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 5th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, December 5th. Northern Trust’s dividend payout ratio is presently 37.30%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Morgan Stanley lifted their target price on Northern Trust from $110.00 to $131.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. BMO Capital Markets started coverage on shares of Northern Trust in a research note on Friday, October 3rd. They set a “market perform” rating and a $142.00 price target for the company. Cowen reiterated a “buy” rating on shares of Northern Trust in a report on Thursday, October 23rd. Barclays boosted their price objective on shares of Northern Trust from $128.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Northern Trust in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Northern Trust currently has an average rating of “Hold” and a consensus target price of $132.46.

Insider Transactions at Northern Trust

In other news, Director Robert Edward Jr. Moritz bought 3,891 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was acquired at an average cost of $128.57 per share, for a total transaction of $500,265.87. Following the purchase, the director owned 6,686 shares of the company’s stock, valued at approximately $859,619.02. This trade represents a 139.21% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Susan Cohen Levy sold 27,591 shares of Northern Trust stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $128.13, for a total value of $3,535,234.83. Following the transaction, the executive vice president owned 48,257 shares of the company’s stock, valued at $6,183,169.41. The trade was a 36.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.77% of the stock is currently owned by corporate insiders.

Northern Trust Company 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, 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.