Employees Retirement System of Texas Continues to Hold Stake in Northern Trust Corporation (NTRS)

Employees Retirement System of Texas held its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,500 shares of the asset manager’s stock at the close of the 2nd quarter. Employees Retirement System of Texas’ holdings in Northern Trust Corporation were worth $2,090,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NTRS. Neuberger Berman Group LLC lifted its position in shares of Northern Trust Corporation by 13.5% in the 1st quarter. Neuberger Berman Group LLC now owns 15,087 shares of the asset manager’s stock worth $1,306,000 after purchasing an additional 1,798 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in shares of Northern Trust Corporation by 1.3% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 6,870 shares of the asset manager’s stock worth $595,000 after purchasing an additional 90 shares during the period. OppenheimerFunds Inc. lifted its position in shares of Northern Trust Corporation by 14.3% in the 1st quarter. OppenheimerFunds Inc. now owns 8,609 shares of the asset manager’s stock worth $745,000 after purchasing an additional 1,080 shares during the period. Teachers Advisors LLC lifted its position in shares of Northern Trust Corporation by 25.0% in the 1st quarter. Teachers Advisors LLC now owns 681,437 shares of the asset manager’s stock worth $58,999,000 after purchasing an additional 136,130 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its position in shares of Northern Trust Corporation by 8.9% in the 1st quarter. TIAA CREF Investment Management LLC now owns 668,437 shares of the asset manager’s stock worth $57,873,000 after purchasing an additional 54,748 shares during the period. 81.90% of the stock is owned by hedge funds and other institutional investors.

In other Northern Trust Corporation news, insider Teresa Parker sold 11,399 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $87.65, for a total transaction of $999,122.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Aileen B. Blake sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $94.00, for a total transaction of $94,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 166,094 shares of company stock valued at $15,115,309 in the last quarter. 1.27% of the stock is currently owned by company insiders.

NTRS has been the subject of several research reports. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $97.00 price target on shares of Northern Trust Corporation in a research report on Friday, August 18th. UBS AG raised shares of Northern Trust Corporation from a “neutral” rating to a “buy” rating and upped their price target for the stock from $92.00 to $100.00 in a research report on Friday, September 8th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $92.00 price target (up previously from $90.00) on shares of Northern Trust Corporation in a research report on Monday. BidaskClub cut shares of Northern Trust Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Morgan Stanley lowered their price target on shares of Northern Trust Corporation from $86.00 to $83.00 and set an “underweight” rating for the company in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Northern Trust Corporation has an average rating of “Hold” and an average target price of $95.93.

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Shares of Northern Trust Corporation (NASDAQ:NTRS) opened at 93.73 on Thursday. Northern Trust Corporation has a 52-week low of $68.78 and a 52-week high of $99.30. The stock has a market cap of $21.42 billion, a PE ratio of 21.28 and a beta of 0.93. The company’s 50-day moving average is $90.01 and its 200-day moving average is $90.14.

Northern Trust Corporation (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, July 19th. The asset manager reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). Northern Trust Corporation had a return on equity of 12.08% and a net margin of 20.21%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the firm earned $1.09 EPS. The company’s revenue was up .5% on a year-over-year basis. Equities analysts anticipate that Northern Trust Corporation will post $4.69 EPS for the current year.

Northern Trust Corporation declared that its board has approved a stock repurchase program on Wednesday, June 28th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the asset manager to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Friday, September 1st were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend was Wednesday, August 30th. This is a boost from Northern Trust Corporation’s previous quarterly dividend of $0.38. Northern Trust Corporation’s payout ratio is 38.18%.

About Northern Trust Corporation

Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.

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Institutional Ownership by Quarter for Northern Trust Corporation (NASDAQ:NTRS)

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