California State Teachers Retirement System Sells 10,347 Shares of Northern Trust Corporation $NTRS

California State Teachers Retirement System decreased its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 3.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 330,175 shares of the asset manager’s stock after selling 10,347 shares during the period. California State Teachers Retirement System’s holdings in Northern Trust were worth $46,083,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NTRS. Reflection Asset Management bought a new stake in Northern Trust during the 4th quarter worth about $25,000. Triumph Capital Management bought a new position in shares of Northern Trust in the 3rd quarter valued at about $25,000. Elyxium Wealth LLC acquired a new stake in shares of Northern Trust in the fourth quarter valued at about $34,000. International Assets Investment Management LLC acquired a new stake in shares of Northern Trust in the fourth quarter valued at about $35,000. Finally, Transamerica Financial Advisors LLC raised its holdings in Northern Trust by 54.1% during the fourth quarter. Transamerica Financial Advisors LLC now owns 265 shares of the asset manager’s stock worth $36,000 after acquiring an additional 93 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $182.51 on Friday. The business’s 50 day moving average price is $176.01 and its two-hundred day moving average price is $159.01. The company has a market cap of $33.77 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 1.00 and a beta of 1.25. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a twelve month low of $121.12 and a twelve month high of $191.60.

Northern Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be paid a dividend of $0.88 per share. The ex-dividend date is Friday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s dividend payout ratio is presently 27.47%.

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 255 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were acquired at an average cost of $179.57 per share, with a total value of $45,790.35. Following the acquisition, the director owned 8,400 shares of the company’s stock, valued at $1,508,388. The trade was a 3.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on NTRS. Evercore set a $179.00 price target on Northern Trust in a research note on Monday, July 6th. Royal Bank Of Canada cut Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price objective on the stock. in a research note on Wednesday, July 22nd. Citigroup increased their price objective on Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. BMO Capital Markets upgraded shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 target price on the stock in a report on Monday, April 6th. Finally, Weiss Ratings raised shares of Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $180.25.

About Northern Trust

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.