State of Tennessee Treasury Department Boosts Holdings in Northern Trust Co. (NASDAQ:NTRS)

State of Tennessee Treasury Department lifted its stake in Northern Trust Co. (NASDAQ:NTRS) by 33.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,210 shares of the asset manager’s stock after purchasing an additional 32,603 shares during the quarter. State of Tennessee Treasury Department’s holdings in Northern Trust were worth $11,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new position in shares of Northern Trust in the 4th quarter worth about $28,000. Quent Capital LLC raised its position in Northern Trust by 77.8% in the 4th quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after buying an additional 158 shares during the last quarter. Allworth Financial LP raised its position in Northern Trust by 94.1% in the 4th quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock worth $30,000 after buying an additional 174 shares during the last quarter. Covestor Ltd raised its position in Northern Trust by 147.5% in the 3rd quarter. Covestor Ltd now owns 604 shares of the asset manager’s stock worth $42,000 after buying an additional 360 shares during the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new position in Northern Trust in the 4th quarter worth about $45,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NTRS shares. Evercore ISI boosted their target price on Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Bank of America boosted their target price on Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, Jefferies Financial Group boosted their target price on Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $84.92.

Insider Activity at Northern Trust

In other Northern Trust news, insider Peter Cherecwich sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $87.09, for a total value of $1,045,080.00. Following the completion of the transaction, the insider now directly owns 31,471 shares in the company, valued at approximately $2,740,809.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Northern Trust news, insider Steven L. Fradkin sold 4,097 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total value of $338,248.32. Following the completion of the transaction, the insider now directly owns 46,078 shares in the company, valued at approximately $3,804,199.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Cherecwich sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $87.09, for a total value of $1,045,080.00. Following the completion of the transaction, the insider now owns 31,471 shares of the company’s stock, valued at $2,740,809.39. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by corporate insiders.

Northern Trust Trading Down 3.6 %

Shares of NASDAQ:NTRS opened at $79.84 on Wednesday. The stock has a 50 day moving average of $84.09 and a 200 day moving average of $82.91. The company has a market cap of $16.33 billion, a PE ratio of 17.62, a price-to-earnings-growth ratio of 1.18 and a beta of 1.10. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Northern Trust Co. has a 12-month low of $62.44 and a 12-month high of $89.25.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Tuesday, April 16th. The asset manager reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.23. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.79 billion. Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. As a group, equities research analysts expect that Northern Trust Co. will post 6.85 EPS for the current year.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.76%. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

Northern Trust Company Profile

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, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.