Public Employees Retirement System of Ohio Buys Shares of 60,251 Northern Trust Corporation $NTRS

Public Employees Retirement System of Ohio purchased a new position in Northern Trust Corporation (NASDAQ:NTRS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 60,251 shares of the asset manager’s stock, valued at approximately $10,474,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in NTRS. Reflection Asset Management purchased a new position in Northern Trust in the fourth quarter worth $25,000. Triumph Capital Management purchased a new stake in Northern Trust during the third quarter valued at about $25,000. Basecamp Wealth Advisors LLC raised its position in Northern Trust by 99.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 101 shares in the last quarter. Keating Financial Advisory Services Inc. bought a new stake in Northern Trust during the second quarter worth about $31,000. Finally, Elyxium Wealth LLC bought a new stake in Northern Trust during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NTRS shares. Citigroup raised their price objective on Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. Keefe, Bruyette & Woods increased their price target on shares of Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a research report on Thursday, July 9th. UBS Group set a $186.00 price target on shares of Northern Trust in a research note on Friday, June 26th. Bank of America boosted their price objective on shares of Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Finally, Royal Bank Of Canada cut shares of Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price objective for the company. in a research note on Wednesday, July 22nd. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $180.68.

Northern Trust Stock Down 0.7%

Shares of NASDAQ NTRS opened at $185.56 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a 12 month low of $121.12 and a 12 month high of $195.78. The firm has a fifty day simple moving average of $183.06 and a two-hundred day simple moving average of $164.87. The firm has a market capitalization of $33.95 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 1.05 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, beating the consensus estimate of $2.71 by $1.52. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the previous year, the firm posted $2.13 EPS. The business’s revenue was up 35.1% on a year-over-year basis. Equities analysts expect that Northern Trust Corporation will post 11.59 earnings per share for the current year.

Northern Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, September 4th. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.9%. Northern Trust’s payout ratio is presently 27.47%.

Insider Buying and Selling

In other news, EVP Thomas A. South sold 1,800 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of the transaction, the executive vice president directly owned 92,917 shares in the company, valued at $17,180,353.30. This trade represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Edward Jr. Moritz purchased 255 shares of the stock in a transaction dated Wednesday, July 29th. The stock was bought at an average cost of $179.57 per share, with a total value of $45,790.35. Following the transaction, the director owned 8,400 shares in the company, valued at $1,508,388. The trade was a 3.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.66% of the company’s stock.

Northern Trust Profile

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.