Allspring Global Investments Holdings LLC Lowers Stake in Northern Trust Co. (NASDAQ:NTRS)

Allspring Global Investments Holdings LLC cut its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 6.6% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 9,885 shares of the asset manager’s stock after selling 699 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Northern Trust were worth $890,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NTRS. Olistico Wealth LLC acquired a new position in shares of Northern Trust in the 2nd quarter valued at about $25,000. Innealta Capital LLC acquired a new position in shares of Northern Trust in the 2nd quarter valued at about $26,000. Ridgewood Investments LLC bought a new stake in shares of Northern Trust in the 2nd quarter valued at approximately $30,000. Versant Capital Management Inc lifted its holdings in Northern Trust by 343.9% in the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock worth $37,000 after purchasing an additional 337 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Northern Trust by 303.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 798 shares of the asset manager’s stock worth $72,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NTRS. Barclays upped their target price on shares of Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Morgan Stanley upped their target price on shares of Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their target price on Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Bank of America lifted their target price on Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Evercore ISI boosted their target price on shares of Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Northern Trust currently has an average rating of “Hold” and an average target price of $99.33.

Insiders Place Their Bets

In related news, Director Charles A. Tribbett sold 1,855 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the transaction, the director now owns 1,000 shares in the company, valued at $88,120. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $100.50, for a total transaction of $2,801,337.00. Following the completion of the sale, the insider now directly owns 46,078 shares in the company, valued at approximately $4,630,839. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the sale, the director now directly owns 1,000 shares of the company’s stock, valued at $88,120. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,636 shares of company stock worth $6,443,204. 0.64% of the stock is currently owned by company insiders.

Northern Trust Stock Down 0.9 %

Shares of Northern Trust stock opened at $100.52 on Friday. Northern Trust Co. has a 52-week low of $64.96 and a 52-week high of $104.25. The stock has a market capitalization of $20.27 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 1.45 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The company’s 50 day moving average price is $92.28 and its 200-day moving average price is $87.17.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.98%. The ex-dividend date is Friday, December 6th. Northern Trust’s dividend payout ratio is currently 37.31%.

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.