Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its position in Northern Trust Co. (NASDAQ:NTRS) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,856 shares of the asset manager’s stock after selling 191 shares during the quarter. Kentucky Retirement Systems’ holdings in Northern Trust were worth $1,420,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NTRS. Creative Planning lifted its position in Northern Trust by 4.1% in the third quarter. Creative Planning now owns 24,582 shares of the asset manager’s stock valued at $2,213,000 after acquiring an additional 968 shares during the last quarter. Eastern Bank acquired a new position in Northern Trust in the third quarter valued at $51,000. IFM Investors Pty Ltd increased its stake in Northern Trust by 1.3% in the third quarter. IFM Investors Pty Ltd now owns 47,938 shares of the asset manager’s stock valued at $4,316,000 after purchasing an additional 594 shares during the period. Allworth Financial LP increased its stake in Northern Trust by 9.1% in the third quarter. Allworth Financial LP now owns 1,170 shares of the asset manager’s stock valued at $105,000 after purchasing an additional 98 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Northern Trust by 28.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,687 shares of the asset manager’s stock worth $1,593,000 after acquiring an additional 3,894 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Northern Trust

In related news, EVP Thomas A. South sold 3,804 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total transaction of $429,852.00. Following the completion of the sale, the executive vice president now directly owns 81,794 shares of the company’s stock, valued at approximately $9,242,722. This trade represents a 4.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Steven L. Fradkin sold 9,100 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the sale, the insider now directly owns 47,797 shares of the company’s stock, valued at approximately $5,305,467. The trade was a 15.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 44,435 shares of company stock valued at $4,980,311. Corporate insiders own 0.64% of the company’s stock.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $112.97 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The company has a market cap of $22.39 billion, a P/E ratio of 11.55, a P/E/G ratio of 1.72 and a beta of 1.08. Northern Trust Co. has a fifty-two week low of $79.30 and a fifty-two week high of $114.67. The firm’s 50 day moving average is $107.25 and its two-hundred day moving average is $100.31.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. Analysts expect that Northern Trust Co. will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on NTRS. The Goldman Sachs Group boosted their price target on shares of Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. UBS Group upped their target price on shares of Northern Trust from $110.00 to $114.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Wells Fargo & Company upped their price target on shares of Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. Finally, Truist Financial upped their price target on shares of Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Northern Trust currently has an average 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.