Canada Pension Plan Investment Board Acquires 3,889 Shares of Northern Trust Co. (NASDAQ:NTRS)

Canada Pension Plan Investment Board raised its holdings in Northern Trust Co. (NASDAQ:NTRS) by 0.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 420,263 shares of the asset manager’s stock after purchasing an additional 3,889 shares during the quarter. Canada Pension Plan Investment Board owned 0.21% of Northern Trust worth $35,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in NTRS. Olistico Wealth LLC purchased a new stake in Northern Trust during the second quarter worth about $25,000. Innealta Capital LLC purchased a new position in Northern Trust in the second quarter valued at about $26,000. Spartan Planning & Wealth Management grew its position in shares of Northern Trust by 10,566.7% during the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 317 shares during the period. Ridgewood Investments LLC purchased a new stake in shares of Northern Trust during the 2nd quarter worth approximately $30,000. Finally, Versant Capital Management Inc raised its holdings in shares of Northern Trust by 343.9% in the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock worth $37,000 after purchasing an additional 337 shares during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NTRS has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lowered their target price on Northern Trust from $85.00 to $84.00 and set a “hold” rating on the stock in a research note on Thursday, August 15th. Morgan Stanley lowered their price target on shares of Northern Trust from $97.00 to $93.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods cut 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 report on Thursday, June 27th. Royal Bank of Canada boosted their target price on shares of Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Finally, The Goldman Sachs Group cut their price target on 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 assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Northern Trust currently has a consensus rating of “Hold” and an average target price of $88.75.

Insider Transactions at Northern Trust

In related news, EVP Mark C. Gossett sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the sale, the executive vice president now owns 28,707 shares in the company, valued at approximately $2,552,052.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Mark C. Gossett sold 6,000 shares of Northern Trust stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Teresa Parker sold 5,883 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the transaction, the executive vice president now directly owns 83,765 shares in the company, valued at $7,041,285.90. The disclosure for this sale can be found here. In the last three months, insiders sold 13,738 shares of company stock worth $1,191,388. 0.64% of the stock is currently owned by corporate insiders.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $91.90 on Friday. The stock has a market cap of $18.80 billion, a P/E ratio of 20.29, a PEG ratio of 1.46 and a beta of 1.08. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The business’s 50-day moving average price is $87.59 and its two-hundred day moving average price is $85.27. Northern Trust Co. has a twelve month low of $62.44 and a twelve month high of $92.82.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.03. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $1.84 billion. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. Northern Trust’s revenue for the quarter was up 53.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.79 earnings per share. As a group, equities analysts predict that Northern Trust Co. will post 7.01 EPS for the current fiscal year.

Northern Trust Announces Dividend

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 paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Friday, September 6th. Northern Trust’s dividend payout ratio (DPR) is currently 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.