Strs Ohio Boosts Stock Holdings in Northern Trust Corporation $NTRS

Strs Ohio raised its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 83.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 136,403 shares of the asset manager’s stock after buying an additional 61,858 shares during the period. Strs Ohio’s holdings in Northern Trust were worth $18,631,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. New Age Alpha Advisors LLC boosted its position in Northern Trust by 4.9% during the third quarter. New Age Alpha Advisors LLC now owns 1,659 shares of the asset manager’s stock valued at $223,000 after buying an additional 78 shares during the period. Compound Planning Inc. boosted its position in Northern Trust by 5.1% during the third quarter. Compound Planning Inc. now owns 1,666 shares of the asset manager’s stock valued at $224,000 after buying an additional 81 shares during the period. Apollon Wealth Management LLC boosted its position in Northern Trust by 1.9% during the fourth quarter. Apollon Wealth Management LLC now owns 4,379 shares of the asset manager’s stock valued at $598,000 after buying an additional 81 shares during the period. NorthRock Partners LLC raised its stake in shares of Northern Trust by 2.2% during the third quarter. NorthRock Partners LLC now owns 3,812 shares of the asset manager’s stock valued at $513,000 after acquiring an additional 83 shares during the last quarter. Finally, HighPoint Advisor Group LLC raised its stake in shares of Northern Trust by 2.3% during the third quarter. HighPoint Advisor Group LLC now owns 3,717 shares of the asset manager’s stock valued at $500,000 after acquiring an additional 84 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO David W. Fox, Jr. sold 19,987 shares of the stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the sale, the chief financial officer owned 18,588 shares in the company, valued at $3,088,582.08. This represents a 51.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Guy Gibson sold 3,009 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $142.39, for a total transaction of $428,451.51. Following the sale, the insider owned 29,332 shares in the company, valued at approximately $4,176,583.48. The trade was a 9.30% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 32,705 shares of company stock worth $5,211,464. Corporate insiders own 0.66% of the company’s stock.

Northern Trust Price Performance

Shares of NTRS opened at $164.48 on Monday. The stock has a market cap of $30.48 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. Northern Trust Corporation has a fifty-two week low of $95.88 and a fifty-two week high of $173.18. The firm’s 50-day simple moving average is $147.24 and its two-hundred day simple moving average is $141.02.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.34. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.90 earnings per share. Analysts anticipate that Northern Trust Corporation will post 10.63 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be issued a dividend of $0.80 per share. The ex-dividend date is Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.9%. Northern Trust’s dividend payout ratio is presently 33.51%.

Analyst Ratings Changes

NTRS has been the subject of several recent analyst reports. Zacks Research downgraded shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Barclays upped their price objective on shares of Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada upped their price objective on shares of Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Northern Trust in a research note on Thursday, January 22nd. Finally, Wells Fargo & Company upped their price objective on shares of Northern Trust from $150.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 22nd. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Northern Trust has an average rating of “Hold” and an average target price of $163.55.

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.