Northern Trust Corporation $NTRS Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 2.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 376,942 shares of the asset manager’s stock after selling 10,370 shares during the quarter. California Public Employees Retirement System’s holdings in Northern Trust were worth $52,610,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC raised its position in Northern Trust by 1.3% in the first quarter. V Square Quantitative Management LLC now owns 4,793 shares of the asset manager’s stock worth $669,000 after acquiring an additional 61 shares in the last quarter. CWS Financial Advisors LLC grew its stake in shares of Northern Trust by 2.0% in the 1st quarter. CWS Financial Advisors LLC now owns 3,997 shares of the asset manager’s stock worth $558,000 after purchasing an additional 77 shares during the last quarter. SJS Investment Consulting Inc. grew its stake in shares of Northern Trust by 16.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 559 shares of the asset manager’s stock worth $78,000 after purchasing an additional 79 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in shares of Northern Trust by 1.9% in the 4th quarter. Apollon Wealth Management LLC now owns 4,379 shares of the asset manager’s stock worth $598,000 after purchasing an additional 81 shares in the last quarter. Finally, OLD National Bancorp IN raised its holdings in shares of Northern Trust by 3.2% in the 1st quarter. OLD National Bancorp IN now owns 2,663 shares of the asset manager’s stock worth $372,000 after purchasing an additional 83 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NTRS. BMO Capital Markets upgraded shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 target price for the company in a report on Monday, April 6th. Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. UBS Group set a $186.00 price objective on Northern Trust in a research note on Friday, June 26th. Citigroup lifted their target price on Northern Trust from $162.00 to $172.00 and gave the stock a “neutral” rating in a report on Tuesday, June 30th. Finally, Royal Bank Of Canada boosted their target price on Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and an average price target of $178.75.

Northern Trust Trading Down 1.0%

Shares of NASDAQ:NTRS opened at $182.78 on Tuesday. The firm has a fifty day moving average of $173.43 and a two-hundred day moving average of $156.80. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51. Northern Trust Corporation has a 12-month low of $118.99 and a 12-month high of $191.60. The firm has a market capitalization of $33.82 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 1.18 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the business posted $1.90 earnings per share. Northern Trust’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities analysts expect that Northern Trust Corporation will post 11.29 EPS for the current fiscal year.

Insider Activity at Northern Trust

In other news, Director Robert Edward Jr. Moritz bought 225 shares of the stock in a transaction on Friday, May 1st. The shares were purchased at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the purchase, the director directly owned 8,145 shares of the company’s stock, valued at $1,355,409.45. This trade represents a 2.84% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David W. Fox, Jr. sold 19,987 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total value of $3,321,039.92. Following the completion of the transaction, the chief financial officer directly owned 18,588 shares in the company, valued at approximately $3,088,582.08. The trade was a 51.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 22,800 shares of company stock valued at $3,785,251. Insiders own 0.66% of the company’s stock.

Northern Trust Company Profile

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.