Strs Ohio Purchases New Holdings in Northern Trust Corporation $NTRS

Strs Ohio acquired a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 21,697 shares of the asset manager’s stock, valued at approximately $2,140,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Continuum Advisory LLC raised its position in shares of Northern Trust by 5,340.0% during the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock worth $27,000 after purchasing an additional 267 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Northern Trust during the 1st quarter worth approximately $29,000. Wayfinding Financial LLC acquired a new stake in shares of Northern Trust during the 1st quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Northern Trust during the 1st quarter worth approximately $43,000. Finally, Assetmark Inc. raised its position in shares of Northern Trust by 54.9% during the 1st quarter. Assetmark Inc. now owns 584 shares of the asset manager’s stock worth $58,000 after purchasing an additional 207 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Trading Up 0.6%

Shares of NASDAQ:NTRS opened at $130.26 on Tuesday. The company has a market cap of $24.91 billion, a P/E ratio of 15.31, a P/E/G ratio of 1.54 and a beta of 1.30. The stock’s 50-day moving average is $127.99 and its 200-day moving average is $111.79. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $133.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.72.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.05. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%.The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the business earned $4.34 earnings per share. The firm’s revenue for the quarter was down 26.4% compared to the same quarter last year. Equities research analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. This is a boost from Northern Trust’s previous quarterly dividend of $0.75. Northern Trust’s dividend payout ratio (DPR) is presently 37.60%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $118.00 price objective (down from $120.00) on shares of Northern Trust in a report on Thursday, July 24th. Citigroup increased their price objective on Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Evercore ISI increased their price objective on Northern Trust from $108.00 to $121.00 and gave the stock an “in-line” rating in a report on Wednesday, July 2nd. The Goldman Sachs Group increased their price target on Northern Trust from $89.00 to $101.00 and gave the company a “sell” rating in a research note on Wednesday, July 2nd. Finally, Royal Bank Of Canada set a $123.00 price target on Northern Trust and gave the company an “outperform” rating in a research note on Monday, June 30th. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $119.58.

Insider Buying and Selling

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 256 shares of the stock in a transaction on Wednesday, August 13th. The stock was purchased at an average price of $126.34 per share, with a total value of $32,343.04. Following the acquisition, the director owned 2,525 shares of the company’s stock, valued at approximately $319,008.50. The trade was a 11.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.77% of the company’s stock.

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.