Northern Trust Corporation $NTRS Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System increased its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 15,388.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,137,991 shares of the asset manager’s stock after buying an additional 50,807,816 shares during the quarter. California State Teachers Retirement System owned about 0.28% of Northern Trust worth $8,889,828,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC lifted its position in Northern Trust by 1.3% during the 1st quarter. V Square Quantitative Management LLC now owns 4,793 shares of the asset manager’s stock worth $669,000 after acquiring an additional 61 shares during the period. Greenleaf Trust increased its holdings in shares of Northern Trust by 0.6% in the second quarter. Greenleaf Trust now owns 12,575 shares of the asset manager’s stock valued at $2,186,000 after purchasing an additional 71 shares during the period. CWS Financial Advisors LLC raised its stake in shares of Northern Trust by 2.0% in the first quarter. CWS Financial Advisors LLC now owns 3,997 shares of the asset manager’s stock worth $558,000 after purchasing an additional 77 shares during the last quarter. SJS Investment Consulting Inc. lifted its holdings in shares of Northern Trust by 16.5% during the first quarter. SJS Investment Consulting Inc. now owns 559 shares of the asset manager’s stock worth $78,000 after purchasing an additional 79 shares during the period. Finally, Compound Planning Inc. boosted its position in Northern Trust by 4.7% in the first quarter. Compound Planning Inc. now owns 1,770 shares of the asset manager’s stock valued at $247,000 after buying an additional 79 shares during the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Northern Trust

In other news, Director Robert Moritz, Jr. purchased 255 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were purchased at an average cost of $179.57 per share, with a total value of $45,790.35. Following the completion of the acquisition, the director owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. This represents a 3.13% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas A. South sold 1,800 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following the sale, the executive vice president owned 92,917 shares in the company, valued at approximately $17,180,353.30. This represents a 1.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.66% of the company’s stock.

Northern Trust Stock Down 0.9%

Northern Trust stock opened at $184.88 on Wednesday. The business’s 50-day moving average price is $184.33 and its 200 day moving average price is $166.52. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. The firm has a market cap of $33.82 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 1.05 and a beta of 1.24. Northern Trust Corporation has a 52 week low of $121.12 and a 52 week high of $195.78.

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

Northern Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be issued a dividend of $0.88 per share. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Friday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. Northern Trust’s payout ratio is presently 30.21%.

Analysts Set New Price Targets

NTRS has been the subject of a number of recent research reports. Zacks Research lowered shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Evercore set a $179.00 price objective on shares of Northern Trust in a report on Monday, July 6th. Barclays increased their price objective on shares of Northern Trust from $176.00 to $189.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. UBS Group set a $186.00 target price on shares of Northern Trust in a report on Friday, June 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Northern Trust from $179.50 to $185.50 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $180.68.

Northern Trust Company 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.