New York State Teachers Retirement System Reduces Position in Northern Trust Co. (NASDAQ:NTRS)

New York State Teachers Retirement System decreased its position in Northern Trust Co. (NASDAQ:NTRS) by 4.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 212,181 shares of the asset manager’s stock after selling 9,148 shares during the quarter. New York State Teachers Retirement System’s holdings in Northern Trust were worth $17,819,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Olistico Wealth LLC bought a new position in shares of Northern Trust during the 2nd quarter valued at approximately $25,000. Spartan Planning & Wealth Management raised its position in shares of Northern Trust by 10,566.7% during the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 317 shares during the period. Versant Capital Management Inc lifted its stake in shares of Northern Trust by 343.9% during the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after buying an additional 337 shares in the last quarter. Tributary Capital Management LLC purchased a new position in shares of Northern Trust during the 1st quarter valued at $53,000. Finally, Quarry LP purchased a new stake in Northern Trust in the 4th quarter worth $56,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Northern Trust

In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of Northern Trust stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.06, for a total transaction of $494,524.98. Following the completion of the sale, the executive vice president now directly owns 83,765 shares of the company’s stock, valued at approximately $7,041,285.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. The Goldman Sachs Group lowered their price objective on 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 target price on 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. Royal Bank of Canada upped their price objective on Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Morgan Stanley cut their target price on shares of Northern Trust from $97.00 to $93.00 and set an “underweight” rating for the company in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Northern Trust from $85.00 to $84.00 and set a “hold” rating for the company in a research report on Thursday, August 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $88.75.

Northern Trust Trading Up 1.7 %

Shares of NTRS traded up $1.45 during mid-day trading on Friday, reaching $88.63. 359,756 shares of the company’s stock traded hands, compared to its average volume of 1,334,497. 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 stock’s 50-day moving average is $85.19 and its two-hundred day moving average is $83.95. Northern Trust Co. has a 12 month low of $62.44 and a 12 month high of $92.46. The stock has a market cap of $18.13 billion, a P/E ratio of 19.25, a P/E/G ratio of 1.29 and a beta of 1.10.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.03. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The business’s revenue for the quarter was up 53.8% compared to the same quarter last year. During the same period last year, the company earned $1.79 earnings per share. Research analysts forecast that Northern Trust Co. will post 7.02 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

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

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.