Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its stake in Northern Trust Co. (NASDAQ:NTRS) by 2.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 45,627 shares of the asset manager’s stock after selling 1,179 shares during the quarter. Retirement Systems of Alabama’s holdings in Northern Trust were worth $3,850,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Trust Asset Management LLC acquired a new stake in Northern Trust in the fourth quarter worth about $204,000. GAMMA Investing LLC bought a new stake in Northern Trust in the fourth quarter worth about $104,000. Illinois Municipal Retirement Fund raised its position in Northern Trust by 30.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 107,921 shares of the asset manager’s stock worth $9,106,000 after acquiring an additional 25,397 shares in the last quarter. RWA Wealth Partners LLC bought a new stake in Northern Trust in the fourth quarter worth about $1,583,000. Finally, Duality Advisers LP raised its position in Northern Trust by 31.7% in the fourth quarter. Duality Advisers LP now owns 11,185 shares of the asset manager’s stock worth $944,000 after acquiring an additional 2,695 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. TheStreet upgraded shares of Northern Trust from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Evercore ISI boosted their price target 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. Bank of America boosted their price target on shares of Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Royal Bank of Canada boosted their price target on shares of Northern Trust from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Finally, UBS Group boosted their price target on shares of Northern Trust from $72.00 to $84.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $84.92.

Insider Activity

In related news, insider Steven L. Fradkin sold 30,392 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 55,707 shares of the company’s stock, valued at approximately $4,462,687.77. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Steven L. Fradkin sold 30,392 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 55,707 shares of the company’s stock, valued at approximately $4,462,687.77. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Steven L. Fradkin sold 4,097 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total value of $338,248.32. Following the completion of the sale, the insider now directly owns 46,078 shares of the company’s stock, valued at approximately $3,804,199.68. The disclosure for this sale can be found here. 0.64% of the stock is owned by corporate insiders.

Northern Trust Price Performance

Shares of NTRS opened at $85.02 on Tuesday. The company has a market capitalization of $17.39 billion, a price-to-earnings ratio of 18.77, a P/E/G ratio of 1.21 and a beta of 1.13. Northern Trust Co. has a fifty-two week low of $62.44 and a fifty-two week 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 business’s 50-day moving average is $84.07 and its 200-day moving average is $80.36.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a $0.75 dividend. The ex-dividend date is Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.53%. Northern Trust’s dividend payout ratio is 66.23%.

About Northern Trust

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.