California Public Employees Retirement System Raises Stock Holdings in Northern Trust Corporation $NTRS

California Public Employees Retirement System increased its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 6.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 373,691 shares of the asset manager’s stock after acquiring an additional 21,185 shares during the quarter. California Public Employees Retirement System owned approximately 0.20% of Northern Trust worth $47,380,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. FNY Investment Advisers LLC purchased a new stake in Northern Trust during the second quarter valued at about $25,000. Hantz Financial Services Inc. raised its holdings in Northern Trust by 5,225.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 209 shares during the period. AlphaCore Capital LLC lifted its position in shares of Northern Trust by 87.4% during the second quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock worth $27,000 after acquiring an additional 97 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Northern Trust in the first quarter worth $29,000. Finally, Clearstead Trust LLC purchased a new position in shares of Northern Trust in the second quarter valued at $29,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Stock Performance

NASDAQ NTRS opened at $133.38 on Wednesday. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $135.48. The company has a fifty day moving average of $128.98 and a 200-day moving average of $125.72. The company has a market capitalization of $25.22 billion, a P/E ratio of 15.55, a P/E/G ratio of 1.44 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.70 and a current ratio of 0.70.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.02 billion. During the same quarter last year, the business posted $2.22 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities research analysts predict that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be given a $0.80 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.4%. Northern Trust’s payout ratio is presently 37.30%.

Insiders Place Their Bets

In other news, EVP Susan Cohen Levy sold 27,591 shares of the business’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 value of $3,535,234.83. Following the completion of the sale, the executive vice president directly owned 48,257 shares in the company, valued at approximately $6,183,169.41. The trade was a 36.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Edward Jr. Moritz bought 3,891 shares of Northern Trust stock in a transaction that occurred on Tuesday, November 4th. The shares were acquired 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 in the company, valued at $859,619.02. The trade was a 139.21% increase in their position. The SEC filing for this purchase provides additional information. 0.77% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NTRS has been the topic of a number of recent research reports. Truist Financial dropped their price objective on Northern Trust from $142.00 to $139.00 and set a “hold” rating on the stock in a report on Thursday, October 23rd. Wall Street Zen downgraded shares of Northern Trust from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. The Goldman Sachs Group set a $135.00 price objective on shares of Northern Trust in a research report on Tuesday, September 30th. BMO Capital Markets initiated coverage on shares of Northern Trust in a report on Friday, October 3rd. They set a “market perform” rating and a $142.00 target price on the stock. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Northern Trust in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $132.46.

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.