Illinois Municipal Retirement Fund Has $9.11 Million Holdings in Northern Trust Co. (NASDAQ:NTRS)

Illinois Municipal Retirement Fund grew its position in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 30.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,921 shares of the asset manager's stock after purchasing an additional 25,397 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.05% of Northern Trust worth $9,106,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. FMR LLC increased its position in Northern Trust by 1.2% during the third quarter. FMR LLC now owns 10,791,735 shares of the asset manager's stock worth $749,810,000 after acquiring an additional 126,172 shares during the period. Primecap Management Co. CA increased its position in Northern Trust by 4.2% during the third quarter. Primecap Management Co. CA now owns 6,497,047 shares of the asset manager's stock worth $451,415,000 after acquiring an additional 264,805 shares during the period. Northern Trust Corp increased its position in Northern Trust by 1.5% during the third quarter. Northern Trust Corp now owns 5,955,048 shares of the asset manager's stock worth $413,757,000 after acquiring an additional 89,696 shares during the period. Massachusetts Financial Services Co. MA increased its position in Northern Trust by 1.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,980,072 shares of the asset manager's stock worth $346,015,000 after acquiring an additional 64,707 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Northern Trust by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,486,840 shares of the asset manager's stock worth $311,746,000 after acquiring an additional 119,484 shares during the period. Institutional investors own 83.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Morgan Stanley reiterated an "underweight" rating and set a $86.00 price target (up previously from $82.00) on shares of Northern Trust in a research note on Tuesday, January 30th. Evercore ISI lifted their price target on shares of Northern Trust from $86.00 to $87.00 and gave the stock an "in-line" rating in a research note on Thursday, April 4th. Jefferies Financial Group lifted their price target on shares of Northern Trust from $101.00 to $103.00 and gave the stock a "buy" rating in a research note on Thursday, April 18th. Royal Bank of Canada lifted their price target on shares of Northern Trust from $82.00 to $86.00 and gave the stock an "outperform" rating in a research note on Friday, January 19th. Finally, Barclays lifted their price target on shares of Northern Trust from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Northern Trust has an average rating of "Hold" and an average price target of $84.92.

Insider Activity at Northern Trust

In related news, insider Steven L. Fradkin sold 30,392 shares of Northern Trust stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total value of $2,434,703.12. Following the completion of the transaction, the insider now directly owns 55,707 shares of the company's stock, valued at $4,462,687.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.64% of the stock is currently owned by company insiders.

Northern Trust Price Performance

Shares of NASDAQ:NTRS traded up $0.12 on Wednesday, hitting $84.30. The stock had a trading volume of 1,332,918 shares, compared to its average volume of 1,520,003. Northern Trust Co. has a twelve month low of $62.44 and a twelve month high of $89.25. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.71. The firm's 50 day moving average price is $83.44 and its 200-day moving average price is $79.34. The company has a market capitalization of $17.20 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 1.20 and a beta of 1.13.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a $0.75 dividend. 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 3.56%. Northern Trust's dividend payout ratio is 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.