Russell Investments Group Ltd. Sells 335,024 Shares of Northern Trust Co. (NASDAQ:NTRS)

Russell Investments Group Ltd. cut its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 38.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 531,406 shares of the asset manager’s stock after selling 335,024 shares during the period. Russell Investments Group Ltd. owned approximately 0.26% of Northern Trust worth $44,852,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Deutsche Bank AG boosted its position in shares of Northern Trust by 8.1% during the third quarter. Deutsche Bank AG now owns 597,143 shares of the asset manager’s stock worth $41,489,000 after purchasing an additional 44,516 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. increased its holdings in shares of Northern Trust by 51.3% in the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 70,384 shares of the asset manager’s stock worth $5,939,000 after acquiring an additional 23,859 shares in the last quarter. HB Wealth Management LLC acquired a new stake in shares of Northern Trust during the fourth quarter worth about $227,000. Nordea Investment Management AB grew its position in shares of Northern Trust by 2.4% in the 3rd quarter. Nordea Investment Management AB now owns 12,962 shares of the asset manager’s stock valued at $907,000 after purchasing an additional 305 shares during the period. Finally, Pathstone Family Office LLC bought a new stake in Northern Trust during the 3rd quarter worth approximately $715,000. Institutional investors own 83.19% of the company’s stock.

Northern Trust Price Performance

NTRS stock opened at $83.56 on Tuesday. The company’s 50-day moving average price is $83.74 and its two-hundred day moving average price is $79.80. Northern Trust Co. has a 12 month low of $62.44 and a 12 month high of $89.25. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm has a market cap of $17.10 billion, a P/E ratio of 18.45, a P/E/G ratio of 1.20 and a beta of 1.13.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, June 7th. This represents a $3.00 annualized dividend and a yield of 3.59%. Northern Trust’s dividend payout ratio is currently 66.23%.

Insiders Place Their Bets

In other news, insider Steven L. Fradkin sold 30,392 shares of Northern Trust 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 transaction, the insider now owns 55,707 shares in the company, valued at approximately $4,462,687.77. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on NTRS. Bank of America upped their price target on shares of Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Jefferies Financial Group upped their price objective on Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. UBS Group lifted their target price on Northern Trust from $72.00 to $84.00 and gave the company a “neutral” rating in a research report on Tuesday, January 9th. Wolfe Research downgraded Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 price target for the company. in a research report on Wednesday, January 3rd. Finally, Royal Bank of Canada boosted their price objective on shares of Northern Trust from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $84.92.

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.