Northern Trust Co. (NASDAQ:NTRS) Holdings Lowered by California Public Employees Retirement System

California Public Employees Retirement System trimmed its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 2.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 379,913 shares of the asset manager’s stock after selling 11,174 shares during the quarter. California Public Employees Retirement System owned about 0.18% of Northern Trust worth $32,057,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Ballast Inc. increased its position in shares of Northern Trust by 1.1% in the fourth quarter. Ballast Inc. now owns 12,208 shares of the asset manager’s stock worth $1,030,000 after acquiring an additional 136 shares in the last quarter. Diversified Trust Co increased its position in shares of Northern Trust by 1.9% in the fourth quarter. Diversified Trust Co now owns 8,531 shares of the asset manager’s stock worth $720,000 after acquiring an additional 156 shares in the last quarter. Quent Capital LLC increased its position in shares of Northern Trust by 77.8% in the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after acquiring an additional 158 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Northern Trust by 33.5% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 654 shares of the asset manager’s stock worth $55,000 after acquiring an additional 164 shares in the last quarter. Finally, Smith Salley & Associates increased its position in shares of Northern Trust by 2.9% in the fourth quarter. Smith Salley & Associates now owns 6,001 shares of the asset manager’s stock worth $506,000 after acquiring an additional 167 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Northern Trust from $72.00 to $84.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. Jefferies Financial Group boosted their price objective on shares of Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Morgan Stanley reaffirmed an “underweight” rating and set a $86.00 price objective (up from $82.00) on shares of Northern Trust in a research report on Tuesday, January 30th. Royal Bank of Canada boosted their price objective on shares of Northern Trust from $82.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Finally, Barclays boosted their price objective on shares of Northern Trust from $90.00 to $98.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $84.92.

Insider Transactions at Northern Trust

In other news, insider Steven L. Fradkin sold 30,392 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total value of $2,434,703.12. Following the completion of the sale, the insider now directly owns 55,707 shares in the company, valued at $4,462,687.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.64% of the stock is owned by corporate insiders.

Northern Trust Price Performance

NASDAQ NTRS opened at $83.38 on Friday. The company has a 50 day moving average price of $83.67 and a two-hundred day moving average price of $79.60. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. Northern Trust Co. has a 12-month low of $62.44 and a 12-month high of $89.25. The stock has a market capitalization of $17.06 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 1.20 and a beta of 1.13.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Friday, June 7th. Northern Trust’s payout ratio is 66.23%.

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.