Independence Bank of Kentucky Raises Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Independence Bank of Kentucky boosted its holdings in Northern Trust Co. (NASDAQ:NTRSFree Report) by 342.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 775 shares of the asset manager’s stock after purchasing an additional 600 shares during the period. Independence Bank of Kentucky’s holdings in Northern Trust were worth $65,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vontobel Holding Ltd. lifted its holdings in Northern Trust by 2.4% during the 1st quarter. Vontobel Holding Ltd. now owns 5,921 shares of the asset manager’s stock worth $715,000 after buying an additional 140 shares during the last quarter. Allianz Asset Management GmbH raised its position in shares of Northern Trust by 26.4% during the 1st quarter. Allianz Asset Management GmbH now owns 12,985 shares of the asset manager’s stock worth $1,512,000 after purchasing an additional 2,716 shares during the period. Prudential PLC acquired a new stake in shares of Northern Trust during the 1st quarter worth approximately $548,000. Vanguard Group Inc. raised its position in shares of Northern Trust by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 22,711,584 shares of the asset manager’s stock worth $2,644,763,000 after purchasing an additional 457,748 shares during the period. Finally, Zions Bancorporation N.A. raised its position in shares of Northern Trust by 271.7% during the 1st quarter. Zions Bancorporation N.A. now owns 918 shares of the asset manager’s stock worth $107,000 after purchasing an additional 671 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wolfe Research cut Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 price target on the stock. in a research report on Wednesday, January 3rd. UBS Group increased their price target on Northern Trust from $72.00 to $84.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. Royal Bank of Canada raised their target price on Northern Trust from $82.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. TheStreet upgraded Northern Trust from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Finally, Barclays raised their target price on Northern Trust from $90.00 to $98.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Northern Trust presently has an average rating of “Hold” and a consensus target price of $83.04.

Check Out Our Latest Stock Analysis on NTRS

Northern Trust Stock Up 0.4 %

Shares of NTRS stock opened at $87.93 on Thursday. Northern Trust Co. has a 1 year low of $62.44 and a 1 year high of $90.59. The stock has a market cap of $17.94 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 1.91 and a beta of 1.13. The business’s fifty day moving average is $82.08 and its 200-day moving average is $77.69. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust (NASDAQ:NTRSGet Free Report) last issued its quarterly earnings results on Thursday, January 18th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.81). Northern Trust had a net margin of 9.14% and a return on equity of 12.44%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the business posted $1.65 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts expect that Northern Trust Co. will post 6.32 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Thursday, March 7th. Northern Trust’s dividend payout ratio (DPR) is presently 59.06%.

Insider Activity

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

Northern Trust Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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