Northern Trust Corporation $NTRS Position Lowered by California Public Employees Retirement System

California Public Employees Retirement System trimmed its position in Northern Trust Corporation (NASDAQ:NTRS) by 2.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 376,942 shares of the asset manager’s stock after selling 10,370 shares during the period. California Public Employees Retirement System owned 0.20% of Northern Trust worth $52,610,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Triumph Capital Management bought a new position in Northern Trust during the 3rd quarter worth approximately $25,000. Reflection Asset Management bought a new stake in shares of Northern Trust in the 4th quarter valued at approximately $25,000. Elyxium Wealth LLC bought a new stake in shares of Northern Trust in the 4th quarter valued at approximately $34,000. International Assets Investment Management LLC acquired a new stake in shares of Northern Trust during the 4th quarter valued at approximately $35,000. Finally, Transamerica Financial Advisors LLC raised its position in shares of Northern Trust by 54.1% during the 4th quarter. Transamerica Financial Advisors LLC now owns 265 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 93 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

NTRS has been the subject of a number of research reports. Truist Financial lifted their price objective on shares of Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Weiss Ratings raised shares of Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. The Goldman Sachs Group raised their price target on shares of Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 22nd. Citigroup lifted their price target on shares of Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. Finally, Barclays boosted their price objective on shares of Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $178.75.

Northern Trust Trading Down 1.0%

Shares of NTRS stock opened at $182.78 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. Northern Trust Corporation has a 1 year low of $118.99 and a 1 year high of $191.60. The stock has a fifty day moving average of $173.43 and a two-hundred day moving average of $156.80. The firm has a market capitalization of $33.82 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 1.18 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the company earned $1.90 earnings per share. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, research analysts expect that Northern Trust Corporation will post 11.29 EPS for the current year.

Insider Buying and Selling

In related news, Director Robert Edward Jr. Moritz purchased 225 shares of the company’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 transaction, the director owned 8,145 shares of the company’s stock, valued at $1,355,409.45. This represents a 2.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Clive Bellows sold 2,800 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $165.02, for a total transaction of $462,056.00. Following the completion of the sale, the insider directly owned 28,217 shares of the company’s stock, valued at approximately $4,656,369.34. This represents a 9.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 22,800 shares of company stock valued at $3,785,251 over the last 90 days. 0.66% of the stock is currently owned by company insiders.

Northern Trust 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.