Illinois Municipal Retirement Fund Has $19.67 Million Stock Position in Northern Trust Corporation $NTRS

Illinois Municipal Retirement Fund boosted its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 43.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 155,173 shares of the asset manager’s stock after purchasing an additional 47,179 shares during the period. Illinois Municipal Retirement Fund owned about 0.08% of Northern Trust worth $19,674,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NTRS. Envestnet Asset Management Inc. lifted its stake in Northern Trust by 73.6% in the first quarter. Envestnet Asset Management Inc. now owns 177,308 shares of the asset manager’s stock valued at $17,491,000 after buying an additional 75,185 shares during the period. Ballentine Partners LLC lifted its position in shares of Northern Trust by 90.5% in the first quarter. Ballentine Partners LLC now owns 4,729 shares of the asset manager’s stock valued at $467,000 after buying an additional 2,246 shares during the last quarter. Kathmere Capital Management LLC grew its position in shares of Northern Trust by 96.7% in the first quarter. Kathmere Capital Management LLC now owns 5,239 shares of the asset manager’s stock valued at $517,000 after purchasing an additional 2,575 shares during the last quarter. Fulton Breakefield Broenniman LLC bought a new stake in Northern Trust during the first quarter worth about $227,000. Finally, MQS Management LLC acquired a new stake in Northern Trust in the first quarter valued at about $413,000. 83.19% of the stock is owned by institutional investors.

Insider Activity

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 3,891 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were bought at an average cost of $128.57 per share, for a total transaction of $500,265.87. Following the acquisition, the director directly owned 6,686 shares in the company, valued at approximately $859,619.02. The trade was a 139.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Susan Cohen Levy sold 27,591 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $128.13, for a total value of $3,535,234.83. Following the sale, the executive vice president owned 48,257 shares in the company, valued at $6,183,169.41. The trade was a 36.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders bought 4,417 shares of company stock worth $566,807 over the last 90 days. Company insiders own 0.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Northern Trust in a report on Friday, October 3rd. They set a “market perform” rating and a $142.00 price objective for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Northern Trust in a research report on Wednesday, October 8th. The Goldman Sachs Group set a $135.00 target price on Northern Trust in a research report on Tuesday, September 30th. Barclays upped their target price on shares of Northern Trust from $128.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 24th. Finally, Evercore ISI raised their target price on Northern Trust from $125.00 to $135.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $130.71.

Northern Trust Trading Up 1.3%

Northern Trust stock opened at $129.96 on Monday. 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 $24.58 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 1.37 and a beta of 1.32. The firm has a 50 day moving average of $129.23 and a 200 day moving average of $121.23. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58.

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

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 5th will be issued a dividend of $0.80 per share. 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 (DPR) is currently 37.30%.

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.