State Board of Administration of Florida Retirement System Buys 2,290 Shares of Northern Trust Corporation $NTRS

State Board of Administration of Florida Retirement System increased its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,043 shares of the asset manager’s stock after purchasing an additional 2,290 shares during the period. State Board of Administration of Florida Retirement System owned 0.11% of Northern Trust worth $25,871,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. FNY Investment Advisers LLC bought a new stake in Northern Trust during the second quarter valued at about $25,000. Hantz Financial Services Inc. grew its position in shares of Northern Trust by 5,225.0% during the second quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock worth $27,000 after purchasing an additional 209 shares in the last quarter. AlphaCore Capital LLC grew its position in shares of Northern Trust by 87.4% during the second quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock worth $27,000 after purchasing an additional 97 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in Northern Trust during the 1st quarter valued at approximately $29,000. Finally, Clearstead Trust LLC purchased a new position in Northern Trust in the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Northern Trust from $127.00 to $131.00 and gave the stock an “equal weight” rating in a report on Thursday, October 23rd. Wall Street Zen downgraded shares of Northern Trust from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. BMO Capital Markets started coverage on shares of Northern Trust in a research note on Friday, October 3rd. They issued a “market perform” rating and a $142.00 price target on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Northern Trust in a research report on Wednesday, October 8th. Finally, Citigroup lifted their target price on Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $132.46.

Insider Activity

In related news, EVP Susan Cohen Levy sold 27,591 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total value of $3,535,234.83. Following the completion of the sale, the executive vice president owned 48,257 shares of the company’s stock, valued at approximately $6,183,169.41. This represents a 36.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert Edward Jr. Moritz bought 3,891 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were bought at an average cost of $128.57 per share, with a total value of $500,265.87. Following the completion of the purchase, the director directly owned 6,686 shares in the company, valued at $859,619.02. This represents a 139.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.77% of the company’s stock.

Northern Trust Trading Down 0.0%

Shares of NASDAQ NTRS opened at $131.34 on Friday. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $135.48. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.70. The company has a market cap of $24.84 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 1.37 and a beta of 1.32. The business’s 50 day moving average price is $128.94 and its 200-day moving average price is $124.33.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the company posted $2.22 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, sell-side analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.4%. Northern Trust’s payout ratio is 37.30%.

Northern Trust Company Profile

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.