Northern Trust Corporation $NTRS Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its position in Northern Trust Corporation (NASDAQ:NTRS) by 27.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 175,937 shares of the asset manager’s stock after purchasing an additional 37,758 shares during the period. Illinois Municipal Retirement Fund owned 0.09% of Northern Trust worth $24,556,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Triumph Capital Management acquired a new position in shares of Northern Trust during the third quarter worth $25,000. Reflection Asset Management purchased a new position in Northern Trust in the fourth quarter valued at $25,000. Board of the Pension Protection Fund acquired a new stake in Northern Trust in the fourth quarter valued at $27,000. Elyxium Wealth LLC acquired a new stake in Northern Trust in the fourth quarter valued at $34,000. Finally, International Assets Investment Management LLC purchased a new stake in Northern Trust during the 4th quarter worth about $35,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NTRS. Morgan Stanley upped their price objective on Northern Trust from $157.00 to $170.00 and gave the stock an “underweight” rating in a research report on Monday, June 29th. 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 note on Wednesday, April 22nd. UBS Group set a $186.00 price target on Northern Trust in a report on Friday, June 26th. Evercore set a $179.00 price target on shares of Northern Trust in a research note on Monday, July 6th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Northern Trust from $157.00 to $175.00 and gave the stock an “underperform” rating in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and an average target price of $178.75.

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz acquired 225 shares of the stock in a transaction on Friday, May 1st. The shares were bought at an average cost of $166.41 per share, with a total value of $37,442.25. Following the transaction, the director owned 8,145 shares of the company’s stock, valued at approximately $1,355,409.45. This trade represents a 2.84% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Clive Bellows sold 2,800 shares of Northern Trust stock in a transaction on Friday, April 24th. The shares were sold at an average price of $165.02, for a total transaction of $462,056.00. Following the completion of the transaction, the insider owned 28,217 shares in the company, valued at approximately $4,656,369.34. This represents a 9.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,800 shares of company stock worth $3,785,251 in the last 90 days. 0.66% of the stock is owned by insiders.

Northern Trust Stock Up 2.4%

NTRS opened at $191.13 on Thursday. Northern Trust Corporation has a one year low of $118.99 and a one year high of $191.47. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market capitalization of $35.37 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 1.19 and a beta of 1.25. The business’s 50-day simple moving average is $171.94 and its 200-day simple moving average is $155.83.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The business’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.90 EPS. Analysts anticipate that Northern Trust Corporation will post 11.29 EPS for the current year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, June 5th. Northern Trust’s payout ratio is presently 33.51%.

Northern Trust 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.