OLD National Bancorp IN trimmed its position in Northern Trust Co. (NASDAQ:NTRS) by 12.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,533 shares of the asset manager’s stock after selling 651 shares during the quarter. OLD National Bancorp IN’s holdings in Northern Trust were worth $410,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the stock. Brand Asset Management Group Inc. acquired a new position in Northern Trust during the 1st quarter valued at $38,000. First Mercantile Trust Co. raised its stake in Northern Trust by 63.6% during the 4th quarter. First Mercantile Trust Co. now owns 360 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 140 shares during the last quarter. Parallel Advisors LLC raised its stake in Northern Trust by 93.5% during the 1st quarter. Parallel Advisors LLC now owns 389 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 188 shares during the last quarter. Synovus Financial Corp raised its stake in Northern Trust by 66.0% during the 4th quarter. Synovus Financial Corp now owns 503 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 200 shares during the last quarter. Finally, Exane Asset Management acquired a new position in Northern Trust during the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 78.89% of the company’s stock.
Shares of Northern Trust stock opened at $94.91 on Thursday. The firm has a market capitalization of $20.51 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.63 and a current ratio of 0.63. Northern Trust Co. has a 52-week low of $75.96 and a 52-week high of $115.61.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Thursday, June 13th. Northern Trust’s payout ratio is 35.66%.
In other news, insider Teresa Parker sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $97.50, for a total value of $292,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.15% of the stock is currently owned by corporate insiders.
NTRS has been the subject of several research analyst reports. Credit Suisse Group reiterated a “hold” rating and set a $101.00 target price on shares of Northern Trust in a research note on Tuesday, February 19th. Buckingham Research upgraded shares of Northern Trust from a “neutral” rating to a “buy” rating and upped their target price for the company from $104.00 to $115.00 in a research note on Thursday, March 14th. ValuEngine raised shares of Northern Trust from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Zacks Investment Research raised shares of Northern Trust from a “sell” rating to a “hold” rating in a report on Tuesday, March 12th. Finally, BidaskClub raised shares of Northern Trust from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. Northern Trust presently has a consensus rating of “Hold” and a consensus price target of $109.92.
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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, Corporate & Institutional Services (C&IS) and Wealth Management.
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