Allspring Global Investments Holdings LLC Sells 2,299 Shares of Northern Trust Co. (NASDAQ:NTRS)

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

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in Northern Trust by 17.7% in the third quarter. Wellington Management Group LLP now owns 2,415,790 shares of the asset manager’s stock valued at $167,849,000 after buying an additional 363,747 shares during the period. Primecap Management Co. CA lifted its holdings in Northern Trust by 4.2% in the third quarter. Primecap Management Co. CA now owns 6,497,047 shares of the asset manager’s stock valued at $451,415,000 after buying an additional 264,805 shares during the period. AQR Capital Management LLC lifted its holdings in Northern Trust by 168.3% in the third quarter. AQR Capital Management LLC now owns 407,683 shares of the asset manager’s stock valued at $28,326,000 after buying an additional 255,740 shares during the period. Qube Research & Technologies Ltd lifted its holdings in Northern Trust by 194.3% in the third quarter. Qube Research & Technologies Ltd now owns 306,194 shares of the asset manager’s stock valued at $21,274,000 after buying an additional 202,167 shares during the period. Finally, Rathbones Group PLC lifted its holdings in Northern Trust by 938.4% in the third quarter. Rathbones Group PLC now owns 157,822 shares of the asset manager’s stock valued at $10,965,000 after buying an additional 142,624 shares during the period. Institutional investors own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NTRS shares. Evercore ISI increased their target price on shares of Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Barclays increased their target price on shares of Northern Trust from $90.00 to $98.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Jefferies Financial Group raised their price objective on shares of Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Wolfe Research lowered shares of Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 price objective on the stock. in a report on Wednesday, January 3rd. Finally, UBS Group raised their price objective on shares of Northern Trust from $72.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $84.92.

Northern Trust Trading Up 0.1 %

Shares of Northern Trust stock opened at $84.30 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust Co. has a 52 week low of $62.44 and a 52 week high of $89.25. The stock has a 50 day moving average price of $83.55 and a two-hundred day moving average price of $79.38. The stock has a market capitalization of $17.20 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.20 and a beta of 1.13.

Northern Trust Announces Dividend

The business 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 dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.00 annualized dividend and a dividend yield of 3.56%. Northern Trust’s payout ratio is 66.23%.

Insider Activity at Northern Trust

In related news, insider Steven L. Fradkin sold 30,392 shares of Northern Trust stock in a transaction that occurred 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 transaction, the insider now owns 55,707 shares of the company’s stock, valued at $4,462,687.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.64% of the stock is owned by insiders.

Northern Trust 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.