California State Teachers Retirement System Sells 36,008 Shares of Northern Trust Corporation $NTRS

California State Teachers Retirement System lessened its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 10.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 294,167 shares of the asset manager's stock after selling 36,008 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Northern Trust worth $51,137,991 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Northern Trust during the second quarter worth about $2,523,781,000. Primecap Management Co. CA acquired a new position in shares of Northern Trust in the 2nd quarter worth $1,060,553,000. Goldman Sachs Group Inc. raised its position in Northern Trust by 5.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager's stock valued at $395,395,000 after acquiring an additional 161,826 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Northern Trust by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager's stock valued at $342,744,000 after acquiring an additional 36,322 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Northern Trust in the second quarter valued at about $361,079,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Thomas A. South sold 1,800 shares of Northern Trust stock in a transaction on Monday, August 24th. The stock was sold at an average price of $184.90, for a total value of $332,820.00. Following the completion of the transaction, the executive vice president directly owned 92,917 shares in the company, valued at approximately $17,180,353.30. This trade represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Moritz, Jr. bought 255 shares of the firm's stock in a transaction on Wednesday, July 29th. The shares were purchased at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the transaction, the director owned 8,400 shares of the company's stock, valued at $1,508,388. This represents a 3.13% increase in their position. The SEC filing for this purchase provides additional information. 0.66% of the stock is owned by company insiders.

Northern Trust Trading Down 1.9%

Northern Trust stock traded down $3.47 during trading hours on Tuesday, reaching $178.24. 378,990 shares of the company's stock traded hands, compared to its average volume of 1,079,982. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. The firm's 50 day moving average is $184.99 and its 200-day moving average is $167.73. The firm has a market capitalization of $32.61 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 1.06 and a beta of 1.24. Northern Trust Corporation has a fifty-two week low of $121.12 and a fifty-two week high of $195.78.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.71 by $1.52. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.69 billion. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The business's revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.13 EPS. On average, analysts predict that Northern Trust Corporation will post 11.59 earnings per share for the current year.

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be given a $0.88 dividend. The ex-dividend date is Friday, September 4th. This represents a $3.52 annualized dividend and a yield of 2.0%. This is a boost from Northern Trust's previous quarterly dividend of $0.80. Northern Trust's payout ratio is currently 30.21%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their target price on shares of Northern Trust from $157.00 to $175.00 and gave the stock an "underperform" rating in a report on Thursday, July 9th. Evercore set a $179.00 price target on Northern Trust in a research note on Monday, July 6th. UBS Group set a $186.00 price target on Northern Trust in a report on Friday, June 26th. JPMorgan Chase & Co. lifted their price target on shares of Northern Trust from $179.50 to $185.50 and gave the stock a "neutral" rating in a report on Tuesday, August 4th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Northern Trust in a research report on Friday, July 31st. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Northern Trust presently has an average rating of "Hold" and a consensus price target of $180.68.

Northern Trust Profile

Northern Trust Corporation is a financial services company headquartered in Chicago, Illinois, and the holding company for Northern Trust Company and related businesses. Founded in 1889, the company provides banking, investment management and fiduciary services to corporations, institutions, high-net-worth individuals, families and privately held businesses.

Northern Trust's institutional offerings include asset custody and servicing, fund administration, securities lending, foreign exchange, treasury services, capital markets support and related solutions.

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