State of Tennessee Department of Treasury Has $8.52 Million Stock Position in Northern Trust Co. (NASDAQ:NTRS)

State of Tennessee Department of Treasury reduced its stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,158 shares of the asset manager's stock after selling 3,762 shares during the quarter. State of Tennessee Department of Treasury's holdings in Northern Trust were worth $8,524,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Juncture Wealth Strategies LLC grew its holdings in shares of Northern Trust by 2.4% in the fourth quarter. Juncture Wealth Strategies LLC now owns 4,212 shares of the asset manager's stock worth $432,000 after purchasing an additional 100 shares during the last quarter. Ballentine Partners LLC raised its position in Northern Trust by 4.4% during the 4th quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager's stock valued at $255,000 after purchasing an additional 105 shares in the last quarter. Pallas Capital Advisors LLC grew its holdings in Northern Trust by 1.8% during the 4th quarter. Pallas Capital Advisors LLC now owns 6,091 shares of the asset manager's stock worth $624,000 after acquiring an additional 107 shares in the last quarter. Bradley Foster & Sargent Inc. CT lifted its holdings in Northern Trust by 2.4% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 4,774 shares of the asset manager's stock worth $489,000 after buying an additional 114 shares during the period. Finally, Brooklyn Investment Group boosted its holdings in shares of Northern Trust by 51.2% in the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager's stock valued at $39,000 after buying an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.

Insider Buying and Selling at Northern Trust

In related news, insider John Landers sold 900 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $111.44, for a total transaction of $100,296.00. Following the completion of the transaction, the insider now directly owns 7,640 shares in the company, valued at approximately $851,401.60. This trade represents a 10.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas A. South sold 3,804 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total value of $429,852.00. Following the completion of the sale, the executive vice president now directly owns 81,794 shares of the company's stock, valued at approximately $9,242,722. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,335 shares of company stock valued at $3,970,211 in the last 90 days. 0.77% of the stock is currently owned by insiders.

Northern Trust Trading Up 0.9 %

NASDAQ NTRS traded up $0.87 during mid-day trading on Tuesday, hitting $93.38. The company's stock had a trading volume of 318,822 shares, compared to its average volume of 1,247,279. Northern Trust Co. has a 52-week low of $79.68 and a 52-week high of $114.67. The firm has a market capitalization of $18.27 billion, a P/E ratio of 9.51, a price-to-earnings-growth ratio of 1.72 and a beta of 1.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. The stock's fifty day simple moving average is $97.37 and its two-hundred day simple moving average is $102.89.

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

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Friday, June 6th. Northern Trust's payout ratio is 27.99%.

Analysts Set New Price Targets

Several brokerages recently weighed in on NTRS. UBS Group boosted their target price on Northern Trust from $110.00 to $114.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Evercore ISI lowered their target price on shares of Northern Trust from $104.00 to $100.00 and set an "in-line" rating for the company in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods raised their price target on shares of Northern Trust from $113.00 to $122.00 and gave the stock a "market perform" rating in a report on Friday, January 24th. The Goldman Sachs Group raised their target price on Northern Trust from $92.00 to $102.00 and gave the stock a "sell" rating in a research note on Friday, January 24th. Finally, Morgan Stanley decreased their target price on Northern Trust from $136.00 to $132.00 and set an "equal weight" rating for the company in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Northern Trust currently has a consensus rating of "Hold" and an average price target of $110.83.

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.