Louisiana State Employees Retirement System Invests $1.06 Million in Northern Trust Co. (NASDAQ:NTRS)

Louisiana State Employees Retirement System acquired a new position in shares of Northern Trust Co. (NASDAQ:NTRS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,500 shares of the asset manager’s stock, valued at approximately $1,055,000.

Other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC acquired a new stake in shares of Northern Trust during the 4th quarter worth approximately $28,000. Quent Capital LLC grew its holdings in shares of Northern Trust by 77.8% during the 4th quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after purchasing an additional 158 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Northern Trust by 94.1% during the 4th quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock worth $30,000 after purchasing an additional 174 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Northern Trust by 306.3% during the 3rd quarter. Hexagon Capital Partners LLC now owns 581 shares of the asset manager’s stock worth $40,000 after buying an additional 438 shares during the period. Finally, Covestor Ltd lifted its position in shares of Northern Trust by 147.5% during the 3rd quarter. Covestor Ltd now owns 604 shares of the asset manager’s stock worth $42,000 after buying an additional 360 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Trading Up 0.8 %

NTRS stock opened at $84.18 on Wednesday. The company has a market cap of $17.17 billion, a P/E ratio of 18.58, a PEG ratio of 1.17 and a beta of 1.13. Northern Trust Co. has a twelve month low of $62.44 and a twelve month high of $89.25. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The business has a fifty day moving average of $83.44 and a 200-day moving average of $79.34.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.56%. Northern Trust’s payout ratio is currently 66.23%.

Insider Transactions at Northern Trust

In other news, insider Steven L. Fradkin sold 30,392 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total transaction of $2,434,703.12. Following the completion of the sale, the insider now owns 55,707 shares in the company, valued at $4,462,687.77. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.64% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NTRS has been the subject of several analyst reports. Wolfe Research downgraded Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 target price for the company. in a research report on Wednesday, January 3rd. Jefferies Financial Group raised their target price on Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. TheStreet upgraded Northern Trust from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Royal Bank of Canada raised their target price on Northern Trust from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Finally, Barclays raised their target price on Northern Trust from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $84.92.

Northern Trust 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.