Northern Trust Corporation $NTRS Shares Acquired by Strs Ohio

Strs Ohio grew its stake in Northern Trust Corporation (NASDAQ:NTRS) by 18.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 161,430 shares of the asset manager’s stock after buying an additional 25,027 shares during the period. Strs Ohio owned 0.09% of Northern Trust worth $22,531,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NTRS. CWM LLC raised its stake in Northern Trust by 122.6% in the 4th quarter. CWM LLC now owns 48,284 shares of the asset manager’s stock worth $6,595,000 after acquiring an additional 26,594 shares during the last quarter. iSAM Funds UK Ltd purchased a new stake in Northern Trust during the 3rd quarter valued at about $2,253,000. Cinctive Capital Management LP increased its holdings in shares of Northern Trust by 113.7% in the third quarter. Cinctive Capital Management LP now owns 28,939 shares of the asset manager’s stock valued at $3,895,000 after purchasing an additional 15,398 shares during the period. Concurrent Investment Advisors LLC purchased a new position in shares of Northern Trust in the fourth quarter worth about $1,959,000. Finally, Barclays PLC raised its stake in shares of Northern Trust by 62.4% in the third quarter. Barclays PLC now owns 1,042,084 shares of the asset manager’s stock worth $140,265,000 after purchasing an additional 400,247 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Northern Trust

In related news, CFO David W. Fox, Jr. sold 19,987 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total value of $3,321,039.92. Following the completion of the transaction, the chief financial officer owned 18,588 shares of the company’s stock, valued at approximately $3,088,582.08. This represents a 51.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Clive Bellows sold 2,800 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $165.02, for a total value of $462,056.00. Following the transaction, the insider owned 28,217 shares in the company, valued at $4,656,369.34. This represents a 9.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,800 shares of company stock valued at $3,785,251 in the last ninety days. 0.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. The Goldman Sachs Group upped their target price on Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. BMO Capital Markets upgraded shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price objective for the company in a research note on Monday, April 6th. Citigroup upped their price objective on shares of Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday. Wells Fargo & Company increased their price objective on shares of Northern Trust from $175.00 to $189.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 24th. Finally, UBS Group set a $186.00 target price on shares of Northern Trust in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $170.69.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $176.50 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market capitalization of $32.66 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.20 and a beta of 1.25. The firm’s 50 day simple moving average is $168.93 and its 200-day simple moving average is $153.24. Northern Trust Corporation has a 12 month low of $118.99 and a 12 month high of $178.70.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.34. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.90 EPS. Analysts expect that Northern Trust Corporation will post 11.21 EPS for the current year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were given a $0.80 dividend. The ex-dividend date was Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.8%. Northern Trust’s dividend payout ratio is 33.51%.

About Northern Trust

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.