State Board of Administration of Florida Retirement System Sells 8,750 Shares of Northern Trust Co. (NASDAQ:NTRS)

State Board of Administration of Florida Retirement System trimmed its stake in Northern Trust Co. (NASDAQ:NTRS) by 3.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 273,861 shares of the asset manager’s stock after selling 8,750 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.13% of Northern Trust worth $24,647,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of NTRS. Associated Banc Corp grew its stake in shares of Northern Trust by 0.3% during the 1st quarter. Associated Banc Corp now owns 36,404 shares of the asset manager’s stock valued at $3,291,000 after purchasing an additional 103 shares during the period. Strs Ohio lifted its position in shares of Northern Trust by 2.1% during the 2nd quarter. Strs Ohio now owns 6,242 shares of the asset manager’s stock valued at $561,000 after buying an additional 126 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Northern Trust by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 23,331 shares of the asset manager’s stock valued at $2,100,000 after buying an additional 136 shares in the last quarter. Brand Asset Management Group Inc. purchased a new position in shares of Northern Trust during the 1st quarter valued at about $38,000. Finally, Boston Family Office LLC lifted its position in shares of Northern Trust by 0.8% during the 1st quarter. Boston Family Office LLC now owns 17,851 shares of the asset manager’s stock valued at $1,614,000 after buying an additional 150 shares in the last quarter. Institutional investors own 81.36% of the company’s stock.

A number of research analysts have recently weighed in on NTRS shares. Bank of America reaffirmed a “neutral” rating and set a $97.00 price objective (down from $107.00) on shares of Northern Trust in a research report on Thursday, June 6th. Morgan Stanley set a $89.00 price objective on Northern Trust and gave the company a “sell” rating in a research report on Friday, August 9th. Deutsche Bank lowered their price objective on Northern Trust from $91.00 to $87.00 and set a “hold” rating on the stock in a research report on Wednesday. BidaskClub cut Northern Trust from a “hold” rating to a “sell” rating in a research report on Monday, August 12th. Finally, Wells Fargo & Co set a $110.00 price objective on Northern Trust and gave the company a “buy” rating in a research report on Friday, August 16th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $104.00.

In other news, CFO Biff Bowman sold 46,204 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $92.81, for a total transaction of $4,288,193.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert P. Browne sold 21,612 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $99.61, for a total value of $2,152,771.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,567 shares of company stock worth $10,639,832. 1.15% of the stock is owned by insiders.

NASDAQ NTRS traded up $0.08 during trading hours on Friday, reaching $87.35. The company’s stock had a trading volume of 2,273 shares, compared to its average volume of 1,161,104. The firm’s 50-day moving average price is $91.90 and its 200-day moving average price is $91.90. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.40. Northern Trust Co. has a 1 year low of $75.96 and a 1 year high of $109.72. The company has a market capitalization of $18.75 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 1.54 and a beta of 1.16.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, July 24th. The asset manager reported $1.75 EPS for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.07. Northern Trust had a return on equity of 15.74% and a net margin of 22.20%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the previous year, the firm earned $1.68 EPS. The firm’s revenue was down .1% compared to the same quarter last year. Equities research analysts anticipate that Northern Trust Co. will post 6.6 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This is a boost from Northern Trust’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 3.21%. Northern Trust’s payout ratio is currently 35.66%.

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, Corporate & Institutional Services (C&IS) and Wealth Management.

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

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