State Board of Administration of Florida Retirement System Sells 2,653 Shares of Northern Trust Co. (NASDAQ:NTRS)

State Board of Administration of Florida Retirement System decreased its position in Northern Trust Co. (NASDAQ:NTRSGet Rating) by 1.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,657 shares of the asset manager’s stock after selling 2,653 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.12% of Northern Trust worth $28,956,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV lifted its stake in Northern Trust by 1.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,379 shares of the asset manager’s stock valued at $643,000 after acquiring an additional 91 shares during the period. Kentucky Retirement Systems lifted its stake in Northern Trust by 0.8% during the 4th quarter. Kentucky Retirement Systems now owns 12,592 shares of the asset manager’s stock valued at $1,506,000 after acquiring an additional 99 shares during the period. Louisiana State Employees Retirement System lifted its stake in Northern Trust by 0.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the asset manager’s stock valued at $1,483,000 after acquiring an additional 100 shares during the period. Atwood & Palmer Inc. lifted its stake in Northern Trust by 34.5% during the 1st quarter. Atwood & Palmer Inc. now owns 390 shares of the asset manager’s stock valued at $46,000 after acquiring an additional 100 shares during the period. Finally, Chicago Capital LLC lifted its stake in Northern Trust by 0.9% during the 1st quarter. Chicago Capital LLC now owns 11,627 shares of the asset manager’s stock valued at $1,354,000 after acquiring an additional 108 shares during the period. Institutional investors own 81.35% of the company’s stock.

Northern Trust Trading Up 0.0 %

Northern Trust stock opened at $99.86 on Friday. The firm has a 50 day moving average of $99.24 and a 200 day moving average of $108.13. The firm has a market capitalization of $20.81 billion, a price-to-earnings ratio of 13.60 and a beta of 1.12. Northern Trust Co. has a 12-month low of $89.68 and a 12-month high of $135.15. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43.

Northern Trust (NASDAQ:NTRSGet Rating) last released its earnings results on Wednesday, July 20th. The asset manager reported $1.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.07). The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Northern Trust had a return on equity of 14.82% and a net margin of 23.13%. The company’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.72 earnings per share. As a group, research analysts predict that Northern Trust Co. will post 7.45 earnings per share for the current year.

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 9th will be issued a dividend of $0.75 per share. This is a positive change from Northern Trust’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Thursday, September 8th. Northern Trust’s dividend payout ratio (DPR) is 38.15%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on NTRS shares. Wells Fargo & Company lowered their target price on shares of Northern Trust from $141.00 to $121.00 and set an “overweight” rating on the stock in a research note on Friday, July 1st. Credit Suisse Group lowered their target price on shares of Northern Trust from $106.00 to $99.00 and set an “underperform” rating on the stock in a research note on Thursday, July 21st. Morgan Stanley increased their price objective on shares of Northern Trust from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 21st. Piper Sandler lowered their price objective on shares of Northern Trust from $141.00 to $121.00 and set an “overweight” rating on the stock in a research note on Friday, June 24th. Finally, Barclays lowered their price objective on shares of Northern Trust from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Northern Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.35.

Northern Trust Profile

(Get Rating)

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.

Featured Articles

Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

Receive News & Ratings for Northern Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Trust and related companies with MarketBeat.com's FREE daily email newsletter.