Northern Trust Co. (NASDAQ:NTRS) Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System raised its position in Northern Trust Co. (NASDAQ:NTRS) by 0.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 328,724 shares of the asset manager’s stock after acquiring an additional 1,472 shares during the quarter. California State Teachers Retirement System’s holdings in Northern Trust were worth $29,230,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Primecap Management Co. CA boosted its position in shares of Northern Trust by 6.1% during the 4th quarter. Primecap Management Co. CA now owns 6,891,902 shares of the asset manager’s stock worth $581,539,000 after purchasing an additional 394,855 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Northern Trust by 31.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,533,855 shares of the asset manager’s stock worth $551,327,000 after purchasing an additional 1,553,783 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Northern Trust by 140.2% during the 4th quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager’s stock worth $489,640,000 after purchasing an additional 3,387,002 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Northern Trust by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,771,463 shares of the asset manager’s stock worth $149,485,000 after purchasing an additional 8,724 shares in the last quarter. Finally, Confluence Investment Management LLC purchased a new stake in shares of Northern Trust during the 1st quarter worth $105,665,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NTRS has been the topic of several research analyst reports. Bank of America boosted their target price on shares of Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. The Goldman Sachs Group decreased their price objective on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Keefe, Bruyette & Woods decreased their price objective on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a research report on Thursday, June 27th. Morgan Stanley decreased their price objective on shares of Northern Trust from $97.00 to $93.00 and set an “underweight” rating on the stock in a research report on Tuesday. Finally, Jefferies Financial Group boosted their price objective on shares of Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $87.33.

Northern Trust Trading Down 0.3 %

NASDAQ:NTRS traded down $0.30 on Wednesday, reaching $88.65. The stock had a trading volume of 931,855 shares, compared to its average volume of 1,373,149. Northern Trust Co. has a 12-month low of $62.44 and a 12-month high of $92.46. The firm’s fifty day moving average is $84.39 and its two-hundred day moving average is $83.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $18.14 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 1.31 and a beta of 1.10.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.03. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the company posted $1.79 EPS. The company’s quarterly revenue was up 53.8% compared to the same quarter last year. Equities analysts expect that Northern Trust Co. will post 7.02 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, September 6th. Northern Trust’s dividend payout ratio is currently 66.23%.

Insider Buying and Selling

In related news, insider Peter Cherecwich sold 12,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the completion of the sale, the insider now owns 31,471 shares of the company’s stock, valued at approximately $2,740,809.39. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.64% of the company’s stock.

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, 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.