Teacher Retirement System of Texas Purchases 118,544 Shares of Northern Trust Co. (NASDAQ:NTRS)

Teacher Retirement System of Texas grew its position in Northern Trust Co. (NASDAQ:NTRS) by 49.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 359,304 shares of the asset manager’s stock after purchasing an additional 118,544 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.18% of Northern Trust worth $36,829,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of NTRS. Y.D. More Investments Ltd boosted its stake in Northern Trust by 118.4% during the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock worth $26,000 after acquiring an additional 135 shares in the last quarter. Assetmark Inc. boosted its stake in Northern Trust by 528.3% during the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock worth $39,000 after acquiring an additional 317 shares in the last quarter. Brooklyn Investment Group boosted its stake in Northern Trust by 51.2% during the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock worth $39,000 after acquiring an additional 128 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Northern Trust by 83.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 494 shares of the asset manager’s stock worth $51,000 after acquiring an additional 224 shares in the last quarter. Finally, Friedenthal Financial bought a new position in Northern Trust during the fourth quarter worth $57,000. 83.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NTRS shares. Keefe, Bruyette & Woods increased their target price on shares of Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a research note on Friday, January 24th. UBS Group raised their price objective on shares of Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Truist Financial lifted their price objective on shares of Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a report on Friday, January 24th. The Goldman Sachs Group lifted their price objective on shares of Northern Trust from $92.00 to $102.00 and gave the company a “sell” rating in a report on Friday, January 24th. Finally, Royal Bank of Canada lifted their price objective on shares of Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $113.50.

Insiders Place Their Bets

In other Northern Trust news, insider John Landers sold 900 shares of Northern Trust stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total value of $100,296.00. Following the sale, the insider now owns 7,640 shares of the company’s stock, valued at approximately $851,401.60. The trade was a 10.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jane Karpinski sold 2,262 shares of Northern Trust stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $111.33, for a total transaction of $251,828.46. Following the completion of the sale, the executive vice president now directly owns 17,236 shares in the company, valued at approximately $1,918,883.88. This represents a 11.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,335 shares of company stock valued at $3,970,211. Company insiders own 0.64% of the company’s stock.

Northern Trust Stock Down 0.4 %

Northern Trust stock opened at $98.87 on Friday. Northern Trust Co. has a fifty-two week low of $79.32 and a fifty-two week high of $114.67. The stock has a market cap of $19.35 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07. The firm’s 50-day simple moving average is $107.44 and its 200 day simple moving average is $102.32. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. Research analysts predict that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.03%. The ex-dividend date is Friday, March 14th. Northern Trust’s dividend payout ratio is 30.67%.

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.