New York State Teachers Retirement System cut its position in Northern Trust Co. (NASDAQ:NTRS) by 7.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 296,137 shares of the asset manager’s stock after selling 25,287 shares during the period. New York State Teachers Retirement System’s holdings in Northern Trust were worth $26,652,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Resources Investment Advisors Inc. boosted its stake in shares of Northern Trust by 194.2% in the first quarter. Resources Investment Advisors Inc. now owns 306 shares of the asset manager’s stock worth $28,000 after buying an additional 202 shares during the last quarter. Parallel Advisors LLC boosted its position in Northern Trust by 93.5% during the first quarter. Parallel Advisors LLC now owns 389 shares of the asset manager’s stock worth $35,000 after purchasing an additional 188 shares in the last quarter. Brand Asset Management Group Inc. purchased a new position in shares of Northern Trust in the first quarter valued at approximately $38,000. Osborn Williams & Donohoe LLC purchased a new position in shares of Northern Trust in the first quarter valued at approximately $49,000. Finally, Shine Investment Advisory Services Inc. lifted its position in shares of Northern Trust by 24.5% in the first quarter. Shine Investment Advisory Services Inc. now owns 574 shares of the asset manager’s stock valued at $52,000 after acquiring an additional 113 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:NTRS traded up $2.28 during midday trading on Tuesday, reaching $95.01. The company had a trading volume of 92,926 shares, compared to its average volume of 1,319,792. The firm has a market cap of $20.26 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 1.79 and a beta of 1.13. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.63 and a quick ratio of 0.63. The business’s fifty day simple moving average is $89.37. Northern Trust Co. has a 12-month low of $75.96 and a 12-month high of $115.61.
Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.02. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.47 billion. Northern Trust had a return on equity of 16.03% and a net margin of 22.44%. Northern Trust’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the business earned $1.58 EPS. As a group, equities research analysts predict that Northern Trust Co. will post 6.54 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend was Thursday, June 13th. Northern Trust’s dividend payout ratio (DPR) is currently 35.66%.
In related news, EVP Robert P. Browne sold 12,156 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $86.88, for a total value of $1,056,113.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Teresa Parker sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $97.50, for a total value of $292,500.00. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by insiders.
Several equities analysts have recently weighed in on the company. Wells Fargo & Co restated a “hold” rating and issued a $11.00 target price on shares of Coty in a research report on Wednesday, May 8th. Zacks Investment Research raised HANNOVER RUECK/S from a “sell” rating to a “hold” rating in a report on Friday, May 17th. BidaskClub cut Ames National from a “hold” rating to a “sell” rating in a report on Wednesday, July 17th. Citigroup raised Infosys from a “neutral” rating to a “buy” rating in a report on Friday, July 12th. Finally, Morgan Stanley reaffirmed a “top pick” rating on shares of in a report on Wednesday, June 5th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. Northern Trust has a consensus rating of “Hold” and a consensus price target of $106.21.
Northern Trust Company 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, Corporate & Institutional Services (C&IS) and Wealth Management.
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