OLD National Bancorp IN Sells 900 Shares of Northern Trust Co. (NASDAQ:NTRS)

OLD National Bancorp IN cut its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 14.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,241 shares of the asset manager’s stock after selling 900 shares during the quarter. OLD National Bancorp IN’s holdings in Northern Trust were worth $442,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC bought a new stake in Northern Trust during the fourth quarter valued at about $28,000. Quent Capital LLC raised its holdings in Northern Trust by 77.8% during the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 158 shares during the period. Allworth Financial LP raised its holdings in Northern Trust by 94.1% during the fourth quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 174 shares during the period. Hexagon Capital Partners LLC raised its holdings in Northern Trust by 306.3% during the third quarter. Hexagon Capital Partners LLC now owns 581 shares of the asset manager’s stock valued at $40,000 after acquiring an additional 438 shares during the period. Finally, Covestor Ltd raised its holdings in Northern Trust by 147.5% during the third quarter. Covestor Ltd now owns 604 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 360 shares during the period. 83.19% of the stock is owned by institutional investors.

Northern Trust Stock Up 0.1 %

Shares of NASDAQ:NTRS opened at $84.30 on Thursday. Northern Trust Co. has a 1 year low of $62.44 and a 1 year high of $89.25. The business has a 50 day simple moving average of $83.55 and a two-hundred day simple moving average of $79.38. The firm has a market capitalization of $17.20 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.21 and a beta of 1.13. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71.

Northern Trust Dividend Announcement

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

Insider Buying and Selling at Northern Trust

In other Northern Trust 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 transaction of $2,434,703.12. Following the completion of the transaction, the insider now owns 55,707 shares in the company, valued at $4,462,687.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NTRS. Evercore ISI raised their price target on Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. TheStreet upgraded Northern Trust from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Jefferies Financial Group raised their price objective on Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Barclays raised their price objective on Northern Trust from $90.00 to $98.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Wolfe Research lowered Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 price objective for the company. in a research report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $84.92.

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.