Northern Trust Corporation $NTRS Shares Sold by Rathbones Group PLC

Rathbones Group PLC lessened its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 72.2% during the first quarter, Holdings Channel.com reports. The firm owned 9,697 shares of the asset manager’s stock after selling 25,171 shares during the quarter. Rathbones Group PLC’s holdings in Northern Trust were worth $1,353,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Northern Trust by 1.0% during the 3rd quarter. State Street Corp now owns 9,493,634 shares of the asset manager’s stock worth $1,285,236,000 after buying an additional 97,584 shares in the last quarter. Invesco Ltd. lifted its holdings in Northern Trust by 8.7% in the fourth quarter. Invesco Ltd. now owns 3,747,840 shares of the asset manager’s stock valued at $511,917,000 after acquiring an additional 301,164 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Northern Trust by 5.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock worth $395,395,000 after purchasing an additional 161,826 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Northern Trust by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager’s stock worth $342,744,000 after purchasing an additional 36,322 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Northern Trust by 4.3% during the 1st quarter. Bank of New York Mellon Corp now owns 2,036,137 shares of the asset manager’s stock worth $284,184,000 after purchasing an additional 83,117 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Activity at Northern Trust

In related news, Director Robert Edward Jr. Moritz acquired 255 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was purchased at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the transaction, the director owned 8,400 shares in the company, valued at $1,508,388. This trade represents a 3.13% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NTRS. Royal Bank Of Canada downgraded shares of Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price target for the company. in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods upped their target price on shares of Northern Trust from $157.00 to $175.00 and gave the stock an “underperform” rating in a research report on Thursday, July 9th. Barclays increased their target price on shares of Northern Trust from $176.00 to $189.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Truist Financial boosted their price target on Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a research note on Friday, June 26th. Finally, Morgan Stanley upped their price target on Northern Trust from $170.00 to $173.00 and gave the stock an “underweight” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $180.68.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $182.41 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. The business’s fifty day moving average price is $176.84 and its two-hundred day moving average price is $159.78. The stock has a market cap of $33.37 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 1.03 and a beta of 1.25. Northern Trust Corporation has a one year low of $121.12 and a one year high of $191.60.

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, September 4th. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.9%. Northern Trust’s dividend payout ratio is 27.47%.

About Northern Trust

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.