Northern Trust Co. (NTRS) Stake Lowered by California Public Employees Retirement System
California Public Employees Retirement System lessened its holdings in Northern Trust Co. (NASDAQ:NTRS) by 4.6% during the 1st quarter, Holdings Channel reports. The firm owned 527,254 shares of the asset manager’s stock after selling 25,343 shares during the period. California Public Employees Retirement System’s holdings in Northern Trust were worth $47,669,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in NTRS. First Mercantile Trust Co. increased its holdings in Northern Trust by 63.6% during the 4th quarter. First Mercantile Trust Co. now owns 360 shares of the asset manager’s stock worth $30,000 after purchasing an additional 140 shares during the period. Parallel Advisors LLC increased its holdings in Northern Trust by 93.5% during the 1st quarter. Parallel Advisors LLC now owns 389 shares of the asset manager’s stock worth $35,000 after purchasing an additional 188 shares during the period. Brand Asset Management Group Inc. purchased a new stake in Northern Trust during the 1st quarter worth about $38,000. Synovus Financial Corp increased its holdings in Northern Trust by 66.0% during the 4th quarter. Synovus Financial Corp now owns 503 shares of the asset manager’s stock worth $43,000 after purchasing an additional 200 shares during the period. Finally, Exane Asset Management purchased a new stake in Northern Trust during the 4th quarter worth about $44,000. 78.89% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on NTRS shares. Credit Suisse Group restated a “hold” rating and set a $101.00 price target on shares of Northern Trust in a report on Tuesday, February 19th. Buckingham Research upgraded Northern Trust from a “neutral” rating to a “buy” rating and upped their price target for the stock from $104.00 to $115.00 in a report on Thursday, March 14th. ValuEngine upgraded Northern Trust from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Zacks Investment Research raised Northern Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, March 12th. Finally, BidaskClub raised Northern Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $109.92.
Shares of NASDAQ NTRS opened at $94.91 on Wednesday. The stock has a market capitalization of $20.45 billion, a P/E ratio of 14.10, a PEG ratio of 1.41 and a beta of 1.08. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.35. Northern Trust Co. has a 52-week low of $75.96 and a 52-week high of $115.61.
Northern Trust (NASDAQ:NTRS) last announced its earnings results on Tuesday, April 23rd. The asset manager reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Northern Trust had a return on equity of 16.03% and a net margin of 22.44%. The business’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.58 EPS. As a group, research analysts forecast that Northern Trust Co. will post 6.8 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.60 dividend. The ex-dividend date is Thursday, June 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.53%. Northern Trust’s dividend payout ratio (DPR) is presently 35.66%.
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About Northern Trust
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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