Texas Permanent School Fund Corp Cuts Stock Holdings in Northern Trust Corporation $NTRS

Texas Permanent School Fund Corp reduced its position in Northern Trust Corporation (NASDAQ:NTRS) by 35.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,685 shares of the asset manager’s stock after selling 7,650 shares during the period. Texas Permanent School Fund Corp’s holdings in Northern Trust were worth $1,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New York Life Investment Management LLC boosted its stake in shares of Northern Trust by 0.3% during the 2nd quarter. New York Life Investment Management LLC now owns 29,132 shares of the asset manager’s stock worth $3,694,000 after acquiring an additional 80 shares in the last quarter. Welch Group LLC raised its holdings in Northern Trust by 2.8% in the 2nd quarter. Welch Group LLC now owns 3,153 shares of the asset manager’s stock worth $400,000 after purchasing an additional 87 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Northern Trust by 9.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,062 shares of the asset manager’s stock worth $135,000 after purchasing an additional 88 shares in the last quarter. Harbour Investments Inc. grew its holdings in Northern Trust by 10.0% in the second quarter. Harbour Investments Inc. now owns 1,032 shares of the asset manager’s stock valued at $131,000 after purchasing an additional 94 shares during the period. Finally, Twin Capital Management Inc. increased its position in shares of Northern Trust by 0.5% in the second quarter. Twin Capital Management Inc. now owns 20,071 shares of the asset manager’s stock valued at $2,545,000 after buying an additional 94 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insiders Place Their Bets

In other Northern Trust news, insider John Landers sold 766 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $124.35, for a total transaction of $95,252.10. Following the transaction, the insider owned 7,313 shares of the company’s stock, valued at approximately $909,371.55. The trade was a 9.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert Edward Jr. Moritz bought 3,891 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was bought at an average cost of $128.57 per share, with a total value of $500,265.87. Following the completion of the purchase, the director directly owned 6,686 shares in the company, valued at approximately $859,619.02. The trade was a 139.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.77% of the stock is currently owned by corporate insiders.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $140.26 on Tuesday. The company has a market cap of $26.53 billion, a P/E ratio of 16.35, a P/E/G ratio of 1.50 and a beta of 1.27. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $140.75. The company’s 50-day moving average price is $130.50 and its 200-day moving average price is $127.75. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.02 billion. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. Northern Trust’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.22 EPS. On average, sell-side analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, December 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.3%. Northern Trust’s dividend payout ratio (DPR) is presently 37.30%.

Analyst Upgrades and Downgrades

NTRS has been the topic of a number of recent analyst reports. Citigroup increased their target price on Northern Trust from $110.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, September 5th. Keefe, Bruyette & Woods increased their price objective on shares of Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a report on Thursday, October 23rd. TD Cowen boosted their target price on shares of Northern Trust from $152.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Northern Trust in a research report on Wednesday, October 8th. Finally, Morgan Stanley lifted their price objective on Northern Trust from $127.00 to $131.00 and gave the stock an “underweight” rating in a report on Wednesday, December 17th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Northern Trust currently has a consensus rating of “Hold” and an average price target of $132.46.

Northern Trust Company Profile

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.