Northern Trust Corporation $NTRS Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lessened its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 35.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 13,685 shares of the asset manager’s stock after selling 7,650 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Northern Trust were worth $1,735,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. New York Life Investment Management LLC increased its stake in Northern Trust by 0.3% during the second quarter. New York Life Investment Management LLC now owns 29,132 shares of the asset manager’s stock worth $3,694,000 after acquiring an additional 80 shares during the last quarter. Welch Group LLC lifted its stake in shares of Northern Trust by 2.8% in the 2nd quarter. Welch Group LLC now owns 3,153 shares of the asset manager’s stock valued at $400,000 after purchasing an additional 87 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Northern Trust by 9.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,062 shares of the asset manager’s stock worth $135,000 after purchasing an additional 88 shares during the period. Harbour Investments Inc. increased its position in shares of Northern Trust by 10.0% during the 2nd quarter. Harbour Investments Inc. now owns 1,032 shares of the asset manager’s stock worth $131,000 after purchasing an additional 94 shares during the last quarter. Finally, Twin Capital Management Inc. raised its holdings in Northern Trust by 0.5% in the 2nd quarter. Twin Capital Management Inc. now owns 20,071 shares of the asset manager’s stock valued at $2,545,000 after buying an additional 94 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $140.26 on Tuesday. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $140.75. The company has a fifty day simple moving average of $130.50 and a two-hundred day simple moving average of $127.75. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.58. The company has a market cap of $26.53 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 1.50 and a beta of 1.27.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data 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 return on equity of 14.37% and a net margin of 11.99%.The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period last year, the firm earned $2.22 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, equities analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 5th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, December 5th. Northern Trust’s dividend payout ratio (DPR) is presently 37.30%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of Northern Trust from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Truist Financial lowered their price objective on shares of Northern Trust from $142.00 to $139.00 and set a “hold” rating for the company in a research 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. Cowen restated a “buy” rating on shares of Northern Trust in a research note on Thursday, October 23rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Northern Trust in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $132.46.

Insider Transactions at Northern Trust

In related news, EVP Susan Cohen Levy sold 27,591 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total transaction of $3,535,234.83. Following the sale, the executive vice president directly owned 48,257 shares in the company, valued at approximately $6,183,169.41. This represents a 36.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Edward Jr. Moritz bought 3,891 shares of Northern Trust stock in a transaction that occurred on Tuesday, November 4th. The stock was purchased at an average cost of $128.57 per share, for a total transaction of $500,265.87. Following the acquisition, the director owned 6,686 shares of the company’s stock, valued at $859,619.02. This represents a 139.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.77% of the company’s stock.

Northern Trust 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.