Public Sector Pension Investment Board Has $2.92 Million Holdings in Northern Trust Co. (NASDAQ:NTRS)

Public Sector Pension Investment Board boosted its holdings in Northern Trust Co. (NASDAQ:NTRS) by 6.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,791 shares of the asset manager’s stock after purchasing an additional 2,201 shares during the quarter. Public Sector Pension Investment Board’s holdings in Northern Trust were worth $2,922,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA increased its position in shares of Northern Trust by 13.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock worth $622,596,000 after purchasing an additional 850,556 shares during the period. Primecap Management Co. CA increased its holdings in Northern Trust by 3.9% in the 2nd quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock valued at $591,787,000 after buying an additional 261,285 shares during the period. Wellington Management Group LLP raised its position in shares of Northern Trust by 140.2% in the 4th quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager’s stock valued at $489,640,000 after buying an additional 3,387,002 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Northern Trust by 12.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock worth $168,253,000 after acquiring an additional 219,387 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in shares of Northern Trust by 2.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,680 shares of the asset manager’s stock worth $117,713,000 after acquiring an additional 26,984 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Insider Transactions at Northern Trust

In related news, Director Charles A. Tribbett sold 1,855 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the sale, the director now directly owns 1,000 shares in the company, valued at $88,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction on Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the transaction, the director now owns 1,000 shares of the company’s stock, valued at $88,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Teresa Parker sold 5,883 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction of $494,524.98. Following the sale, the executive vice president now directly owns 83,765 shares in the company, valued at approximately $7,041,285.90. The disclosure for this sale can be found here. Insiders sold 13,738 shares of company stock worth $1,191,388 over the last ninety days. 0.64% of the stock is owned by insiders.

Northern Trust Stock Up 0.2 %

Shares of NASDAQ NTRS opened at $90.07 on Friday. Northern Trust Co. has a 1 year low of $62.44 and a 1 year high of $92.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market cap of $18.43 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 1.53 and a beta of 1.08. The company has a 50 day simple moving average of $87.88 and a 200 day simple moving average of $85.55.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, July 17th. The asset manager reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.03. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $1.84 billion. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. Northern Trust’s revenue was up 53.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.79 earnings per share. On average, research analysts forecast that Northern Trust Co. will post 7.01 EPS for the current year.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a $0.75 dividend. The ex-dividend date is Friday, September 6th. This represents a $3.00 annualized dividend and a dividend yield of 3.33%. Northern Trust’s payout ratio is 66.23%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Morgan Stanley cut their target price on Northern Trust from $97.00 to $93.00 and set an “underweight” rating for the company in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price objective on Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Keefe, Bruyette & Woods decreased their target price on Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a research report on Thursday, June 27th. Royal Bank of Canada boosted their target price on Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Finally, The Goldman Sachs Group downgraded shares of Northern Trust from a “neutral” rating to a “sell” rating and reduced their price target for the company from $84.00 to $82.00 in a research note on Thursday. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Northern Trust has a consensus rating of “Hold” and a consensus target price of $89.42.

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.