Northern Trust Corporation $NTRS Stock: Illinois Municipal Retirement Fund Trims Holdings

Illinois Municipal Retirement Fund decreased its position in Northern Trust Corporation (NASDAQ:NTRS) by 11.4% during the 3rd quarter, Holdings Channel reports. The firm owned 124,336 shares of the asset manager’s stock after selling 15,927 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Northern Trust were worth $21,058,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. AlphaCore Capital LLC grew its stake in Northern Trust by 22.9% during the third quarter. AlphaCore Capital LLC now owns 4,059 shares of the asset manager’s stock worth $691,000 after buying an additional 756 shares during the last quarter. Fulcrum Asset Management LLP acquired a new stake in shares of Northern Trust during the third quarter worth approximately $208,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Northern Trust by 20.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 16,307 shares of the asset manager’s stock worth $2,759,000 after buying an additional 2,724 shares in the last quarter. Brighton Jones LLC raised its stake in shares of Northern Trust by 2.4% in the third quarter. Brighton Jones LLC now owns 11,435 shares of the asset manager’s stock valued at $1,937,000 after acquiring an additional 265 shares during the last quarter. Finally, Uhlmann Price Securities LLC raised its stake in shares of Northern Trust by 68.6% in the third quarter. Uhlmann Price Securities LLC now owns 4,423 shares of the asset manager’s stock valued at $749,000 after acquiring an additional 1,800 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

Northern Trust Trading Up 0.1%

NTRS opened at $177.89 on Wednesday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $32.22 billion, a PE ratio of 15.35, a PEG ratio of 0.91 and a beta of 1.21. Northern Trust Corporation has a 1-year low of $121.53 and a 1-year high of $195.78. The firm has a 50-day moving average price of $173.87 and a two-hundred day moving average price of $166.27.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, October 21st. The asset manager reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $0.53. Northern Trust had a net margin of 15.86% and a return on equity of 17.97%. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the firm posted $2.29 earnings per share. The company’s revenue was up 13.4% on a year-over-year basis. As a group, equities analysts anticipate that Northern Trust Corporation will post 12.00 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 1st. Investors of record on Friday, December 4th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.0%. Northern Trust’s dividend payout ratio (DPR) is currently 27.59%.

Insider Activity at Northern Trust

In related news, EVP Susan Levy sold 3,922 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $168.69, for a total value of $661,602.18. Following the completion of the transaction, the executive vice president owned 59,378 shares in the company, valued at $10,016,474.82. The trade was a 6.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas A. South sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of the transaction, the executive vice president owned 92,917 shares of the company’s stock, valued at $17,180,353.30. This trade represents a 1.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 22,706 shares of company stock valued at $3,850,282 over the last quarter. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on NTRS shares. Barclays boosted their target price on Northern Trust from $189.00 to $194.00 and gave the stock an “equal weight” rating in a report on Thursday, October 22nd. BMO Capital Markets dropped their price target on Northern Trust from $208.00 to $190.00 and set an “outperform” rating for the company in a report on Tuesday, October 6th. The Goldman Sachs Group lifted their price objective on Northern Trust from $190.00 to $192.00 and gave the company a “neutral” rating in a research report on Friday, October 2nd. Capital One Financial set a $190.00 price objective on Northern Trust in a research note on Tuesday, October 6th. Finally, Citigroup reduced their price objective on Northern Trust from $186.00 to $170.00 and set a “neutral” rating on the stock in a research note on Friday, October 23rd. Two equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Northern Trust has an average rating of “Hold” and an average target price of $181.03.

About Northern Trust

Northern Trust Corporation is a financial services company headquartered in Chicago. Founded in 1889, it provides services to institutions, corporations, governments, and individuals and families. The company’s businesses include asset servicing, asset management, wealth management, and banking. Its services include investment management, custody and administration, fiduciary services, banking, and financial planning. Northern Trust serves clients in the United States and internationally, with operations across multiple regions.