Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 18.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,348 shares of the asset manager’s stock after selling 2,299 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Northern Trust were worth $873,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. acquired a new position in Northern Trust during the 4th quarter worth approximately $5,252,000. TFC Financial Management Inc. increased its position in Northern Trust by 1,650.0% during the 4th quarter. TFC Financial Management Inc. now owns 630 shares of the asset manager’s stock worth $53,000 after purchasing an additional 594 shares during the period. Nisa Investment Advisors LLC increased its position in Northern Trust by 27.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 39,968 shares of the asset manager’s stock worth $3,372,000 after purchasing an additional 8,504 shares during the period. Smith Salley & Associates increased its position in Northern Trust by 2.9% during the 4th quarter. Smith Salley & Associates now owns 6,001 shares of the asset manager’s stock worth $506,000 after purchasing an additional 167 shares during the period. Finally, New York State Teachers Retirement System increased its position in Northern Trust by 6.2% during the 4th quarter. New York State Teachers Retirement System now owns 221,263 shares of the asset manager’s stock worth $18,670,000 after purchasing an additional 13,006 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Price Performance

NTRS stock opened at $84.30 on Thursday. Northern Trust Co. has a 52-week low of $62.44 and a 52-week high of $89.25. The stock’s fifty day simple moving average is $83.55 and its 200-day simple moving average is $79.38. 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 stock has a market capitalization of $17.20 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 1.20 and a beta of 1.13.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Friday, June 7th. Northern Trust’s dividend payout ratio (DPR) is currently 66.23%.

Analyst Ratings Changes

Several brokerages have recently commented on NTRS. Royal Bank of Canada boosted their price target on Northern Trust from $82.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Barclays boosted their price target on Northern Trust from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Jefferies Financial Group boosted their price target on Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Bank of America boosted their price target on Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, TheStreet raised Northern Trust from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Northern Trust has a consensus rating of “Hold” and an average target price of $84.92.

Insider Buying and Selling

In related news, insider Steven L. Fradkin sold 30,392 shares of the 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 directly owns 55,707 shares of the company’s stock, valued at approximately $4,462,687.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.64% of the company’s stock.

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.