Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 4.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,147 shares of the asset manager’s stock after selling 1,748 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Northern Trust were worth $4,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ballentine Partners LLC lifted its position in Northern Trust by 4.4% during the fourth quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager’s stock valued at $255,000 after purchasing an additional 105 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Northern Trust by 24.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,061 shares of the asset manager’s stock worth $2,286,000 after acquiring an additional 4,374 shares during the period. JPMorgan Chase & Co. raised its position in shares of Northern Trust by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock worth $386,809,000 after acquiring an additional 388,692 shares during the period. Kovitz Investment Group Partners LLC raised its position in shares of Northern Trust by 68.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 13,765 shares of the asset manager’s stock worth $1,239,000 after acquiring an additional 5,578 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Northern Trust by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager’s stock worth $129,909,000 after acquiring an additional 8,102 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Down 0.1 %

Shares of NASDAQ NTRS opened at $98.77 on Monday. Northern Trust Co. has a 12-month low of $79.32 and a 12-month high of $114.67. The stock has a market cap of $19.33 billion, a PE ratio of 10.10, a P/E/G ratio of 1.72 and a beta of 1.07. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average of $107.42 and a 200 day moving average of $102.55.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, beating 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%. As a group, sell-side analysts predict that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 3.04%. Northern Trust’s dividend payout ratio (DPR) is 30.67%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Royal Bank of Canada upped their price objective on shares of Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Barclays upped their price target on shares of Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. The Goldman Sachs Group upped their price target on shares of Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a research report on Friday, January 24th. Truist Financial upped their price target on shares of Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Finally, Morgan Stanley reduced their price target on shares of Northern Trust from $138.00 to $136.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $113.50.

Insider Activity

In other news, EVP Thomas A. South sold 3,804 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total value of $429,852.00. Following the completion of the sale, the executive vice president now owns 81,794 shares of the company’s stock, valued at $9,242,722. This represents a 4.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John Landers sold 900 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total transaction of $100,296.00. Following the completion of the sale, the insider now directly owns 7,640 shares of the company’s stock, valued at approximately $851,401.60. This trade represents a 10.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,335 shares of company stock valued at $3,970,211 in the last 90 days. Company insiders own 0.64% of the company’s stock.

Northern Trust Company 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.