State of Alaska Department of Revenue Has $2.32 Million Stock Position in Northern Trust Co. (NASDAQ:NTRS)

State of Alaska Department of Revenue cut its stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 31.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 22,601 shares of the asset manager's stock after selling 10,217 shares during the period. State of Alaska Department of Revenue's holdings in Northern Trust were worth $2,316,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Y.D. More Investments Ltd boosted its stake in shares of Northern Trust by 118.4% in the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager's stock valued at $26,000 after purchasing an additional 135 shares during the period. Brooklyn Investment Group boosted its position in Northern Trust by 51.2% in the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager's stock valued at $39,000 after buying an additional 128 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Northern Trust during the third quarter valued at about $39,000. Capital Performance Advisors LLP purchased a new stake in shares of Northern Trust during the third quarter worth about $48,000. Finally, Friedenthal Financial acquired a new position in shares of Northern Trust in the fourth quarter worth about $57,000. Hedge funds and other institutional investors own 83.19% of the company's stock.

Northern Trust Stock Performance

Shares of NASDAQ NTRS traded down $0.58 during mid-day trading on Tuesday, hitting $110.42. The company had a trading volume of 1,809,180 shares, compared to its average volume of 1,186,159. Northern Trust Co. has a 12 month low of $76.67 and a 12 month high of $114.67. The stock has a market cap of $21.89 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 1.74 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. The firm's 50 day simple moving average is $106.46 and its two-hundred day simple moving average is $98.67.

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

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.72%. The ex-dividend date is Friday, March 14th. Northern Trust's payout ratio is currently 30.67%.

Analyst Ratings Changes

NTRS has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on Northern Trust from $100.00 to $108.00 and gave the company a "hold" rating in a research note on Monday, November 11th. Evercore ISI raised their price target on shares of Northern Trust from $86.00 to $103.00 and gave the stock an "in-line" rating in a research report on Thursday, October 24th. Morgan Stanley cut their price target on shares of Northern Trust from $127.00 to $125.00 and set an "equal weight" rating on the stock in a report on Friday, January 3rd. Barclays raised their price objective on shares of Northern Trust from $115.00 to $118.00 and gave the stock an "equal weight" rating in a report on Monday, January 6th. Finally, Truist Financial increased their price target on shares of Northern Trust from $110.00 to $116.00 and gave the stock a "hold" rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Northern Trust has an average rating of "Hold" and an average price target of $112.58.

Insider Transactions at Northern Trust

In related news, insider John Landers sold 900 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $111.44, for a total transaction of $100,296.00. Following the sale, the insider now owns 7,640 shares of the company's stock, valued at $851,401.60. The trade was a 10.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jane Karpinski sold 2,262 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $111.33, for a total value of $251,828.46. Following the transaction, the executive vice president now directly owns 17,236 shares of the company's stock, valued at $1,918,883.88. This represents a 11.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,631 shares of company stock valued at $4,550,459. 0.64% of the stock is currently owned by corporate insiders.

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.