Teacher Retirement System of Texas Has $11.37 Million Holdings in Northern Trust Corporation $NTRS

Teacher Retirement System of Texas cut its stake in Northern Trust Corporation (NASDAQ:NTRS) by 60.1% in the second quarter, Holdings Channel.com reports. The firm owned 89,666 shares of the asset manager’s stock after selling 135,065 shares during the quarter. Teacher Retirement System of Texas’ holdings in Northern Trust were worth $11,369,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new position in Northern Trust in the 2nd quarter worth $25,000. Zions Bancorporation National Association UT bought a new stake in Northern Trust during the 1st quarter worth about $29,000. Wayfinding Financial LLC bought a new stake in Northern Trust during the 1st quarter worth about $35,000. GFG Capital LLC bought a new stake in Northern Trust during the 2nd quarter worth about $35,000. Finally, Harbor Investment Advisory LLC lifted its position in Northern Trust by 68.4% during the 2nd quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager’s stock worth $41,000 after buying an additional 130 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 270 shares of the firm’s stock in a transaction on Monday, October 27th. The shares were purchased at an average price of $126.66 per share, for a total transaction of $34,198.20. Following the transaction, the director directly owned 2,795 shares in the company, valued at approximately $354,014.70. This trade represents a 10.69% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.77% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on NTRS. BMO Capital Markets began coverage on shares of Northern Trust in a research report on Friday, October 3rd. They set a “market perform” rating and a $142.00 price target on the stock. Morgan Stanley boosted their price target on shares of Northern Trust from $110.00 to $131.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th. Barclays boosted their price target on shares of Northern Trust from $128.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. TD Cowen boosted their price target on shares of Northern Trust from $152.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Finally, Citigroup boosted their price target on shares of Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and an average price target of $130.71.

Northern Trust Stock Down 0.1%

Shares of NTRS stock opened at $127.26 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.70. The firm’s 50-day moving average is $129.56 and its 200-day moving average is $119.07. The stock has a market cap of $24.34 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 1.37 and a beta of 1.31. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $135.48.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. Northern Trust’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.22 EPS. Sell-side analysts predict that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 5th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, December 5th. Northern Trust’s dividend payout ratio is presently 37.30%.

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.