abrdn plc Sells 146,313 Shares of Northern Trust Co. (NASDAQ:NTRS)

abrdn plc lowered its stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 29.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 358,170 shares of the asset manager's stock after selling 146,313 shares during the quarter. abrdn plc owned 0.18% of Northern Trust worth $36,700,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. FMR LLC boosted its position in Northern Trust by 9.3% during the 3rd quarter. FMR LLC now owns 18,187,663 shares of the asset manager's stock valued at $1,637,435,000 after buying an additional 1,542,685 shares during the period. Primecap Management Co. CA boosted its holdings in shares of Northern Trust by 0.5% during the third quarter. Primecap Management Co. CA now owns 7,085,117 shares of the asset manager's stock worth $637,873,000 after purchasing an additional 38,360 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Northern Trust by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock worth $386,809,000 after purchasing an additional 388,692 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Northern Trust by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,577,091 shares of the asset manager's stock valued at $141,986,000 after purchasing an additional 16,500 shares during the period. Finally, KBC Group NV raised its position in Northern Trust by 201.6% during the 4th quarter. KBC Group NV now owns 963,811 shares of the asset manager's stock valued at $98,791,000 after purchasing an additional 644,261 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NTRS shares. StockNews.com upgraded Northern Trust from a "hold" rating to a "buy" rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods boosted their price objective on shares of Northern Trust from $113.00 to $122.00 and gave the company a "market perform" rating in a research report on Friday, January 24th. Wells Fargo & Company raised their target price on shares of Northern Trust from $108.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Friday, November 15th. The Goldman Sachs Group boosted their price target on shares of Northern Trust from $92.00 to $102.00 and gave the company a "sell" rating in a research report on Friday, January 24th. Finally, Truist Financial raised their price objective on shares of Northern Trust from $110.00 to $116.00 and gave the stock a "hold" rating in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Northern Trust presently has an average rating of "Hold" and a consensus price target of $112.58.

Insider Activity at Northern Trust

In other news, insider John Landers sold 900 shares of the business's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $111.44, for a total value of $100,296.00. Following the completion of the transaction, the insider now owns 7,640 shares in the company, valued at $851,401.60. The trade was a 10.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Steven L. Fradkin sold 9,100 shares of the company's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $111.00, for a total value of $1,010,100.00. Following the transaction, the insider now directly owns 47,797 shares in the company, valued at approximately $5,305,467. The trade was a 15.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,631 shares of company stock valued at $4,550,459. 0.64% of the stock is owned by insiders.

Northern Trust Stock Down 0.3 %

Shares of NASDAQ NTRS traded down $0.29 on Friday, reaching $113.51. 822,970 shares of the company's stock traded hands, compared to its average volume of 1,162,977. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The business's 50 day simple moving average is $106.44 and its two-hundred day simple moving average is $98.43. Northern Trust Co. has a 12 month low of $76.67 and a 12 month high of $114.67. The company has a market cap of $22.50 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. As a group, equities research analysts forecast that Northern Trust Co. will post 8.2 EPS for the current fiscal year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Friday, March 14th. Northern Trust's payout ratio is 30.67%.

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.