abrdn plc Boosts Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

abrdn plc boosted its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 16.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 434,559 shares of the asset manager’s stock after buying an additional 62,657 shares during the period. abrdn plc owned 0.21% of Northern Trust worth $36,668,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Ballast Inc. grew its position in shares of Northern Trust by 1.1% in the fourth quarter. Ballast Inc. now owns 12,208 shares of the asset manager’s stock valued at $1,030,000 after purchasing an additional 136 shares in the last quarter. Diversified Trust Co grew its position in shares of Northern Trust by 1.9% in the fourth quarter. Diversified Trust Co now owns 8,531 shares of the asset manager’s stock valued at $720,000 after purchasing an additional 156 shares in the last quarter. Quent Capital LLC grew its position in shares of Northern Trust by 77.8% in the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 158 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of Northern Trust by 33.5% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 654 shares of the asset manager’s stock valued at $55,000 after purchasing an additional 164 shares in the last quarter. Finally, Smith Salley & Associates grew its position in shares of Northern Trust by 2.9% in the fourth quarter. Smith Salley & Associates now owns 6,001 shares of the asset manager’s stock valued at $506,000 after purchasing an additional 167 shares in the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Royal Bank of Canada boosted their price target on Northern Trust from $82.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Bank of America boosted their price target on Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Morgan Stanley reissued an “underweight” rating and set a $86.00 price target (up previously from $82.00) on shares of Northern Trust in a research note on Tuesday, January 30th. Barclays boosted their price target on Northern Trust from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, TheStreet raised Northern Trust from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $84.92.

Northern Trust Price Performance

NTRS stock opened at $83.54 on Tuesday. The stock’s 50 day moving average price is $83.31 and its 200 day moving average price is $79.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $17.04 billion, a P/E ratio of 18.44, a PEG ratio of 1.17 and a beta of 1.13. Northern Trust Co. has a 1 year low of $62.44 and a 1 year high of $89.25.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.00 annualized dividend and a yield of 3.59%. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, insider Steven L. Fradkin sold 30,392 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total value of $2,434,703.12. Following the completion of the transaction, the insider now directly owns 55,707 shares in the company, valued at approximately $4,462,687.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.64% of the stock is currently owned by insiders.

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.