Teacher Retirement System of Texas Sells 134,573 Shares of Northern Trust Corporation (NASDAQ:NTRS)

Teacher Retirement System of Texas reduced its position in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 37.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,731 shares of the asset manager's stock after selling 134,573 shares during the period. Teacher Retirement System of Texas owned approximately 0.11% of Northern Trust worth $22,170,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Northern Trust by 2.2% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,703 shares of the asset manager's stock worth $2,141,000 after acquiring an additional 467 shares in the last quarter. Mather Group LLC. boosted its stake in shares of Northern Trust by 20.9% in the 1st quarter. Mather Group LLC. now owns 3,426 shares of the asset manager's stock valued at $338,000 after purchasing an additional 592 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Northern Trust by 0.5% during the 1st quarter. Amalgamated Bank now owns 38,065 shares of the asset manager's stock valued at $3,755,000 after purchasing an additional 172 shares during the last quarter. Sunbelt Securities Inc. increased its position in Northern Trust by 30.5% during the 1st quarter. Sunbelt Securities Inc. now owns 942 shares of the asset manager's stock worth $93,000 after purchasing an additional 220 shares in the last quarter. Finally, U S Global Investors Inc. increased its position in Northern Trust by 68.3% during the 1st quarter. U S Global Investors Inc. now owns 11,950 shares of the asset manager's stock worth $1,179,000 after purchasing an additional 4,850 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wells Fargo & Company cut their target price on shares of Northern Trust from $118.00 to $111.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley increased their price target on Northern Trust from $103.00 to $106.00 and gave the company an "underweight" rating in a research note on Tuesday. Truist Financial boosted their price objective on Northern Trust from $116.00 to $126.00 and gave the stock a "hold" rating in a research report on Thursday. Bank of America lowered their target price on Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Finally, The Goldman Sachs Group increased their target price on Northern Trust from $89.00 to $101.00 and gave the company a "sell" rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, nine 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 has an average rating of "Hold" and a consensus price target of $114.67.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, insider Teresa Parker sold 6,467 shares of the business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $100.62, for a total value of $650,709.54. Following the completion of the sale, the insider owned 79,391 shares of the company's stock, valued at $7,988,322.42. The trade was a 7.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Clive Bellows sold 3,300 shares of the company'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 sale, the executive vice president owned 28,736 shares of the company's stock, valued at approximately $2,872,163.20. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,772 shares of company stock valued at $981,069 in the last ninety days. Insiders own 0.77% of the company's stock.

Northern Trust Trading Down 0.3%

Shares of NASDAQ NTRS traded down $0.36 during trading on Friday, reaching $131.71. The company had a trading volume of 1,442,540 shares, compared to its average volume of 1,431,142. The stock has a market cap of $25.62 billion, a P/E ratio of 12.29, a PEG ratio of 1.97 and a beta of 1.26. The company's fifty day moving average price is $109.22 and its 200-day moving average price is $104.57. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.57. Northern Trust Corporation has a 12 month low of $80.81 and a 12 month high of $133.00.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its earnings results on Tuesday, April 22nd. The asset manager reported $1.90 EPS for the quarter, beating the consensus estimate of $1.85 by $0.05. The firm 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 13.73% and a net margin of 13.93%. As a group, research analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $3.00 annualized dividend and a yield of 2.28%. Northern Trust's dividend payout ratio is 27.99%.

About Northern Trust

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.