Northern Trust Corporation $NTRS Shares Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 17.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 256,700 shares of the asset manager’s stock after purchasing an additional 38,600 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Northern Trust were worth $35,063,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Triumph Capital Management acquired a new stake in shares of Northern Trust in the third quarter valued at approximately $25,000. Board of the Pension Protection Fund acquired a new stake in shares of Northern Trust in the fourth quarter valued at approximately $27,000. International Assets Investment Management LLC acquired a new stake in shares of Northern Trust in the fourth quarter valued at approximately $35,000. Olistico Wealth LLC acquired a new stake in shares of Northern Trust in the fourth quarter valued at approximately $41,000. Finally, True Wealth Design LLC grew its position in shares of Northern Trust by 98.7% in the fourth quarter. True Wealth Design LLC now owns 314 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 156 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Performance

Shares of NTRS opened at $162.35 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market capitalization of $30.04 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 1.16 and a beta of 1.27. The company’s 50 day simple moving average is $149.35 and its 200 day simple moving average is $142.47. Northern Trust Corporation has a 1 year low of $104.09 and a 1 year high of $173.18.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.34. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.13 billion. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.90 earnings per share. On average, sell-side analysts predict that Northern Trust Corporation will post 10.63 EPS for the current year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $3.20 annualized dividend and a dividend yield of 2.0%. Northern Trust’s dividend payout ratio is presently 33.51%.

Analysts Set New Price Targets

NTRS has been the topic of several research reports. Evercore increased their price target on shares of Northern Trust from $142.00 to $155.00 and gave the company an “in-line” rating in a research report on Friday, January 23rd. Citigroup initiated coverage on shares of Northern Trust in a research report on Monday, February 23rd. They issued a “neutral” rating on the stock. Truist Financial increased their price target on shares of Northern Trust from $155.00 to $176.00 and gave the company a “hold” rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group upped their price objective on shares of Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a research note on Wednesday, April 22nd. Finally, Weiss Ratings raised shares of Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Northern Trust has an average rating of “Hold” and a consensus target price of $164.08.

Insider Activity at Northern Trust

In other Northern Trust news, insider Guy Gibson sold 3,009 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $142.39, for a total transaction of $428,451.51. Following the transaction, the insider owned 29,332 shares of the company’s stock, valued at $4,176,583.48. This trade represents a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Edward Jr. Moritz purchased 225 shares of the business’s stock in a transaction on Friday, May 1st. The shares were bought at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the purchase, the director owned 8,145 shares of the company’s stock, valued at $1,355,409.45. This trade represents a 2.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders sold 32,705 shares of company stock worth $5,211,464. Company insiders own 0.66% of the company’s stock.

About Northern Trust

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.