Northern Trust Co. (NASDAQ:NTRS) Position Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 8.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,064 shares of the asset manager’s stock after selling 821 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Northern Trust were worth $934,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Y.D. More Investments Ltd lifted its holdings in Northern Trust by 118.4% in the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock worth $26,000 after purchasing an additional 135 shares during the period. Empirical Asset Management LLC acquired a new stake in Northern Trust during the 4th quarter worth about $33,000. Brooklyn Investment Group raised its holdings in Northern Trust by 51.2% during the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock worth $39,000 after buying an additional 128 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Northern Trust in the 3rd quarter valued at about $48,000. Finally, Eastern Bank acquired a new position in shares of Northern Trust in the 3rd quarter valued at about $51,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Price Performance

Northern Trust stock opened at $112.97 on Monday. The business’s 50-day simple moving average is $107.25 and its 200 day simple moving average is $100.31. The stock has a market cap of $22.39 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 1.72 and a beta of 1.08. Northern Trust Co. has a 12-month low of $79.30 and a 12-month high of $114.67. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. As a group, research analysts anticipate that Northern Trust Co. will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, March 14th. Northern Trust’s dividend payout ratio is currently 30.67%.

Insider Transactions at Northern Trust

In other Northern Trust news, EVP Thomas A. South sold 3,804 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total transaction of $429,852.00. Following the transaction, the executive vice president now owns 81,794 shares of the company’s stock, valued at $9,242,722. The trade was a 4.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Landers sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $111.44, for a total value of $100,296.00. Following the transaction, the insider now directly owns 7,640 shares in the company, valued at $851,401.60. This trade represents a 10.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,435 shares of company stock valued at $4,980,311 over the last 90 days. 0.64% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on NTRS. Royal Bank of Canada boosted their price target on Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Barclays increased their price objective on Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. StockNews.com upgraded Northern Trust from a “hold” rating to a “buy” rating in a research note on Friday, January 24th. Morgan Stanley cut their target price on Northern Trust from $127.00 to $125.00 and set an “equal weight” rating for the company in a research note on Friday, January 3rd. Finally, UBS Group increased their price objective on Northern Trust from $110.00 to $114.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $112.58.

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, 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.