Allspring Global Investments Holdings LLC Cuts Stake in Northern Trust Co. (NASDAQ:NTRS)

Allspring Global Investments Holdings LLC cut its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 6.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,885 shares of the asset manager’s stock after selling 699 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Northern Trust were worth $890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Northern Trust by 13.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock valued at $622,596,000 after buying an additional 850,556 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Northern Trust by 4,660.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 399,932 shares of the asset manager’s stock worth $33,586,000 after purchasing an additional 391,531 shares in the last quarter. Primecap Management Co. CA lifted its stake in Northern Trust by 3.9% during the 2nd quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock valued at $591,787,000 after acquiring an additional 261,285 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Northern Trust by 12.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock valued at $168,253,000 after acquiring an additional 219,387 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Northern Trust by 55.1% during the second quarter. AQR Capital Management LLC now owns 597,146 shares of the asset manager’s stock valued at $49,575,000 after purchasing an additional 212,089 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NTRS shares. Wells Fargo & Company increased their price target on Northern Trust from $92.00 to $108.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Barclays boosted their price objective on Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Bank of America lifted their target price on shares of Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Morgan Stanley lifted their target price on Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, Evercore ISI boosted their target price on shares of Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and an average price target of $99.33.

Insider Buying and Selling

In other news, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the sale, the director now directly owns 1,000 shares in the company, valued at $88,120. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at $88,120. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Susan Cohen Levy sold 19,585 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $102.26, for a total transaction of $2,002,762.10. Following the completion of the sale, the executive vice president now directly owns 17,132 shares in the company, valued at approximately $1,751,918.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,636 shares of company stock valued at $6,443,204. Corporate insiders own 0.64% of the company’s stock.

Northern Trust Stock Performance

Shares of Northern Trust stock opened at $100.52 on Friday. The company has a 50 day moving average price of $92.28 and a 200 day moving average price of $87.17. Northern Trust Co. has a 52 week low of $64.96 and a 52 week high of $104.25. 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 firm has a market capitalization of $20.27 billion, a P/E ratio of 12.50, a PEG ratio of 1.45 and a beta of 1.08.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.98%. The ex-dividend date is Friday, December 6th. Northern Trust’s payout ratio is 37.31%.

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.