Teacher Retirement System of Texas Sells 135,065 Shares of Northern Trust Corporation $NTRS

Teacher Retirement System of Texas lessened its stake in Northern Trust Corporation (NASDAQ:NTRS) by 60.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,666 shares of the asset manager’s stock after selling 135,065 shares during the period. Teacher Retirement System of Texas’ holdings in Northern Trust were worth $11,369,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of NTRS. GAMMA Investing LLC grew its holdings in Northern Trust by 5.8% during the 1st quarter. GAMMA Investing LLC now owns 4,517 shares of the asset manager’s stock worth $446,000 after acquiring an additional 249 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Northern Trust by 9.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,317 shares of the asset manager’s stock worth $1,610,000 after acquiring an additional 1,358 shares during the period. Oppenheimer & Co. Inc. grew its holdings in Northern Trust by 9.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 4,443 shares of the asset manager’s stock worth $438,000 after acquiring an additional 380 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Northern Trust by 23.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,305 shares of the asset manager’s stock worth $2,653,000 after acquiring an additional 5,244 shares during the period. Finally, Amalgamated Bank grew its holdings in Northern Trust by 0.5% during the 1st quarter. Amalgamated Bank now owns 38,065 shares of the asset manager’s stock worth $3,755,000 after acquiring an additional 172 shares during the period. Institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on NTRS shares. Wells Fargo & Company lifted their target price on shares of Northern Trust from $127.00 to $131.00 and gave the stock an “equal weight” rating in a report on Thursday, October 23rd. The Goldman Sachs Group set a $135.00 target price on shares of Northern Trust in a report on Tuesday, September 30th. Citigroup lifted their target price on shares of Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Zacks Research lowered shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. Finally, Truist Financial lowered their target price on shares of Northern Trust from $142.00 to $139.00 and set a “hold” rating for the company in a report on Thursday, October 23rd. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $130.71.

Northern Trust Price Performance

Shares of NTRS stock opened at $127.26 on Thursday. Northern Trust Corporation has a 12-month low of $81.62 and a 12-month high of $135.48. The firm has a market capitalization of $24.34 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 1.37 and a beta of 1.31. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average of $129.56 and a 200-day moving average of $119.07.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.03. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the previous year, the business earned $2.22 EPS. The firm’s revenue was up 2.8% on a year-over-year basis. On average, equities research analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. Northern Trust’s dividend payout ratio is presently 37.30%.

Insiders Place Their Bets

In related news, Director Robert Edward Jr. Moritz bought 270 shares of Northern Trust stock in a transaction that occurred on Monday, October 27th. The stock was purchased at an average cost of $126.66 per share, with a total value of $34,198.20. Following the purchase, the director owned 2,795 shares in the company, valued at approximately $354,014.70. This trade represents a 10.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.77% 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.