Public Employees Retirement System of Ohio Has $7.04 Million Stake in Northern Trust Co. (NASDAQ:NTRS)

Public Employees Retirement System of Ohio raised its position in Northern Trust Co. (NASDAQ:NTRS) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,137 shares of the asset manager’s stock after acquiring an additional 1,015 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Northern Trust were worth $7,035,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NTRS. Innealta Capital LLC acquired a new position in shares of Northern Trust during the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC bought a new position in Northern Trust during the second quarter worth $30,000. Northwest Investment Counselors LLC acquired a new position in shares of Northern Trust in the third quarter valued at $39,000. Capital Performance Advisors LLP bought a new position in shares of Northern Trust in the third quarter valued at about $48,000. Finally, Eastern Bank bought a new position in shares of Northern Trust in the third quarter valued at about $51,000. Institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. StockNews.com upgraded shares of Northern Trust from a “hold” rating to a “buy” rating in a research note on Tuesday. UBS Group upped their target price on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Evercore ISI lifted their price target on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods upped their price objective on Northern Trust from $100.00 to $113.00 and gave the company a “market perform” rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company lifted their target price on Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $105.00.

Northern Trust Price Performance

NTRS stock opened at $104.98 on Friday. The company’s 50-day moving average price is $103.30 and its two-hundred day moving average price is $92.20. The firm has a market cap of $20.81 billion, a P/E ratio of 13.06, a P/E/G ratio of 1.18 and a beta of 1.07. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a 12 month low of $76.67 and a 12 month high of $111.87.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 2.86%. Northern Trust’s dividend payout ratio is currently 37.31%.

Insiders Place Their Bets

In related news, COO Peter Cherecwich sold 16,153 shares of Northern Trust stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the sale, the chief operating officer now directly owns 4,397 shares of the company’s stock, valued at approximately $462,476.46. The trade was a 78.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Steven L. Fradkin sold 9,100 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the completion of the transaction, the insider now directly owns 47,797 shares of the company’s stock, valued at approximately $5,305,467. The trade was a 15.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,151 shares of company stock worth $8,489,889 over the last three months. Insiders own 0.64% of the company’s stock.

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.