Stock Yards Bank & Trust Co. Trims Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Stock Yards Bank & Trust Co. lowered its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 15.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,513 shares of the asset manager’s stock after selling 621 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Northern Trust were worth $296,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NTRS. Duality Advisers LP grew its stake in Northern Trust by 31.7% in the 4th quarter. Duality Advisers LP now owns 11,185 shares of the asset manager’s stock worth $944,000 after buying an additional 2,695 shares in the last quarter. CWM LLC grew its stake in Northern Trust by 23.9% in the 4th quarter. CWM LLC now owns 9,062 shares of the asset manager’s stock worth $765,000 after buying an additional 1,746 shares in the last quarter. Signaturefd LLC grew its stake in Northern Trust by 165.6% in the 4th quarter. Signaturefd LLC now owns 3,615 shares of the asset manager’s stock worth $305,000 after buying an additional 2,254 shares in the last quarter. Lindbrook Capital LLC grew its stake in Northern Trust by 70.3% in the 4th quarter. Lindbrook Capital LLC now owns 860 shares of the asset manager’s stock worth $73,000 after buying an additional 355 shares in the last quarter. Finally, abrdn plc grew its stake in Northern Trust by 16.8% in the 4th quarter. abrdn plc now owns 434,559 shares of the asset manager’s stock worth $36,668,000 after buying an additional 62,657 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Trading Up 0.1 %

NASDAQ:NTRS opened at $84.30 on Thursday. The company has a fifty day moving average of $83.55 and a 200 day moving average of $79.38. Northern Trust Co. has a 52 week low of $62.44 and a 52 week high of $89.25. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $17.20 billion, a P/E ratio of 18.61, a P/E/G ratio of 1.21 and a beta of 1.13.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders 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 annualized dividend and a yield of 3.56%. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

Insiders Place Their Bets

In other Northern Trust news, insider Steven L. Fradkin sold 30,392 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total value of $2,434,703.12. Following the completion of the transaction, the insider now directly owns 55,707 shares in the company, valued at approximately $4,462,687.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their price objective on shares of Northern Trust from $72.00 to $84.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. TheStreet raised shares of Northern Trust from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. Bank of America upped their price objective on shares of Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Royal Bank of Canada upped their price objective on shares of Northern Trust from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, Barclays upped their price objective on shares of Northern Trust from $90.00 to $98.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Two 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 stock presently has an average rating of “Hold” and an average price target of $84.92.

Northern Trust Company 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.