Northern Trust Co. (NASDAQ:NTRS) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lessened its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 14.7% in the 4th quarter, Holdings Channel reports. The firm owned 5,241 shares of the asset manager’s stock after selling 900 shares during the period. OLD National Bancorp IN’s holdings in Northern Trust were worth $442,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Ballast Inc. raised its position in shares of Northern Trust by 1.1% during the 4th quarter. Ballast Inc. now owns 12,208 shares of the asset manager’s stock worth $1,030,000 after purchasing an additional 136 shares during the last quarter. Diversified Trust Co raised its holdings in Northern Trust by 1.9% in the 4th quarter. Diversified Trust Co now owns 8,531 shares of the asset manager’s stock valued at $720,000 after acquiring an additional 156 shares during the last quarter. Quent Capital LLC raised its holdings in Northern Trust by 77.8% in the 4th quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 158 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in Northern Trust by 33.5% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 654 shares of the asset manager’s stock valued at $55,000 after acquiring an additional 164 shares during the last quarter. Finally, Smith Salley & Associates raised its holdings in Northern Trust by 2.9% in the 4th quarter. Smith Salley & Associates now owns 6,001 shares of the asset manager’s stock valued at $506,000 after acquiring an additional 167 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Analysts Set New Price Targets

NTRS has been the subject of several analyst reports. Wolfe Research cut shares of Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 price target for the company. in a research note on Wednesday, January 3rd. Evercore ISI increased their price objective on shares of Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Barclays increased their price objective on shares of Northern Trust from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Morgan Stanley reaffirmed an “underweight” rating and set a $86.00 price objective (up previously from $82.00) on shares of Northern Trust in a research report on Tuesday, January 30th. Finally, TheStreet raised shares of Northern Trust from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $84.92.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $84.30 on Thursday. The company’s fifty day moving average price is $83.55 and its 200 day moving average price is $79.38. Northern Trust Co. has a 12 month low of $62.44 and a 12 month high of $89.25. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $17.20 billion, a P/E ratio of 18.61, a P/E/G ratio of 1.21 and a beta of 1.13.

Northern Trust Announces Dividend

The firm 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. This represents a $3.00 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Friday, June 7th. Northern Trust’s payout ratio is currently 66.23%.

Insiders Place Their Bets

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

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.