Texas Permanent School Fund Corp Has $2.85 Million Stake in Northern Trust Co. (NASDAQ:NTRS)

Texas Permanent School Fund Corp reduced its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 28.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,902 shares of the asset manager’s stock after selling 13,397 shares during the period. Texas Permanent School Fund Corp’s holdings in Northern Trust were worth $2,847,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Olistico Wealth LLC acquired a new position in Northern Trust during the second quarter valued at approximately $25,000. Innealta Capital LLC acquired a new position in Northern Trust during the second quarter valued at approximately $26,000. Spartan Planning & Wealth Management raised its position in Northern Trust by 10,566.7% during the fourth quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 317 shares in the last quarter. Ridgewood Investments LLC acquired a new position in Northern Trust during the second quarter valued at approximately $30,000. Finally, Versant Capital Management Inc raised its position in Northern Trust by 343.9% during the second quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 337 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Performance

Shares of Northern Trust stock opened at $88.24 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a twelve month low of $62.44 and a twelve month high of $92.46. The stock has a market cap of $18.05 billion, a price-to-earnings ratio of 19.48, a P/E/G ratio of 1.46 and a beta of 1.08. The company’s fifty day moving average is $87.05 and its 200 day moving average is $85.02.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, July 17th. The asset manager reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.03. The business had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The business’s quarterly revenue was up 53.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.79 earnings per share. Sell-side analysts forecast that Northern Trust Co. will post 7.01 EPS for the current year.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, September 6th. This represents a $3.00 dividend on an annualized basis and a yield of 3.40%. Northern Trust’s dividend payout ratio (DPR) is currently 66.23%.

Insider Buying and Selling at Northern Trust

In other news, EVP Mark C. Gossett sold 6,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total transaction of $533,400.00. Following the transaction, the executive vice president now owns 28,707 shares in the company, valued at $2,552,052.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Teresa Parker sold 5,883 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction of $494,524.98. Following the transaction, the executive vice president now owns 83,765 shares in the company, valued at $7,041,285.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark C. Gossett sold 6,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total transaction of $533,400.00. Following the transaction, the executive vice president now owns 28,707 shares in the company, valued at approximately $2,552,052.30. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a research report on Thursday, June 27th. Morgan Stanley lowered their price target on shares of Northern Trust from $97.00 to $93.00 and set an “underweight” rating for the company in a report on Tuesday, July 30th. Royal Bank of Canada upped their price target on shares of Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Northern Trust from $85.00 to $84.00 and set a “hold” rating for the company in a report on Thursday, August 15th. Finally, The Goldman Sachs Group lowered their price target on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $88.75.

Northern Trust 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.