California State Teachers Retirement System Boosts Stock Position in Northern Trust Co. (NASDAQ:NTRS)

California State Teachers Retirement System lifted its stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 355,732 shares of the asset manager's stock after acquiring an additional 5,022 shares during the quarter. California State Teachers Retirement System owned approximately 0.18% of Northern Trust worth $36,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its holdings in Northern Trust by 1.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,486,616 shares of the asset manager's stock worth $767,378,000 after purchasing an additional 92,162 shares in the last quarter. Geode Capital Management LLC increased its holdings in Northern Trust by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,904,871 shares of the asset manager's stock worth $501,444,000 after purchasing an additional 30,908 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Northern Trust by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock worth $386,809,000 after purchasing an additional 388,692 shares in the last quarter. Invesco Ltd. increased its holdings in Northern Trust by 7.5% in the fourth quarter. Invesco Ltd. now owns 2,885,312 shares of the asset manager's stock worth $295,744,000 after purchasing an additional 202,327 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Northern Trust by 1.6% in the fourth quarter. Wellington Management Group LLP now owns 2,532,401 shares of the asset manager's stock worth $259,571,000 after purchasing an additional 39,592 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Stock Down 0.4%

Shares of NASDAQ:NTRS traded down $0.43 during mid-day trading on Monday, hitting $106.31. 1,063,721 shares of the company traded hands, compared to its average volume of 1,294,983. The stock has a market cap of $20.68 billion, a P/E ratio of 10.87, a P/E/G ratio of 1.72 and a beta of 1.18. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a 12-month low of $79.68 and a 12-month high of $114.67. The stock has a 50-day moving average price of $97.11 and a two-hundred day moving average price of $103.23.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.05. The company had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.95 billion. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. On average, equities research analysts forecast that Northern Trust Co. will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.82%. Northern Trust's payout ratio is 27.99%.

Insider Activity at Northern Trust

In other Northern Trust news, insider Teresa Parker sold 6,467 shares of the business's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $100.62, for a total value of $650,709.54. Following the transaction, the insider now owns 79,391 shares of the company's stock, valued at approximately $7,988,322.42. The trade was a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Clive Bellows sold 3,300 shares of the business's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the transaction, the executive vice president now directly owns 28,736 shares in the company, valued at approximately $2,872,163.20. This represents a 10.30% decrease in their position. The disclosure for this sale can be found here. 0.77% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NTRS shares. Evercore ISI lowered their target price on Northern Trust from $104.00 to $100.00 and set an "in-line" rating for the company in a report on Wednesday, April 23rd. Morgan Stanley reduced their price objective on Northern Trust from $136.00 to $132.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 2nd. Royal Bank of Canada reduced their price objective on Northern Trust from $115.00 to $105.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Citigroup reduced their price objective on Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Finally, Truist Financial reduced their price objective on Northern Trust from $98.00 to $92.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $110.83.

Northern Trust 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.