Kentucky Retirement Systems Insurance Trust Fund Sells 2,322 Shares of Northern Trust Corporation (NASDAQ:NTRS)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 29.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,633 shares of the asset manager's stock after selling 2,322 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Northern Trust were worth $556,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in NTRS. Massachusetts Financial Services Co. MA increased its holdings in shares of Northern Trust by 1.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,486,616 shares of the asset manager's stock valued at $767,378,000 after purchasing an additional 92,162 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Northern Trust by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,904,871 shares of the asset manager's stock valued at $501,444,000 after purchasing an additional 30,908 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Northern Trust by 7.5% in the fourth quarter. Invesco Ltd. now owns 2,885,312 shares of the asset manager's stock valued at $295,744,000 after purchasing an additional 202,327 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Northern Trust by 1.6% in the fourth quarter. Wellington Management Group LLP now owns 2,532,401 shares of the asset manager's stock valued at $259,571,000 after purchasing an additional 39,592 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Northern Trust by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,201,309 shares of the asset manager's stock valued at $225,641,000 after purchasing an additional 62,605 shares in the last quarter. 83.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Northern Trust from $118.00 to $111.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial reduced their price objective on shares of Northern Trust from $98.00 to $92.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Evercore ISI reduced their price objective on shares of Northern Trust from $104.00 to $100.00 and set an "in-line" rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley reaffirmed an "underweight" rating and issued a $103.00 price objective (up from $101.00) on shares of Northern Trust in a research note on Tuesday, June 3rd. Finally, Royal Bank Of Canada reduced their price target on shares of Northern Trust from $115.00 to $105.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $108.42.

Northern Trust Trading Down 0.7%

Shares of NTRS stock traded down $0.83 during trading hours on Thursday, hitting $122.97. 2,082,715 shares of the company's stock traded hands, compared to its average volume of 1,400,634. The stock's 50 day simple moving average is $103.81 and its 200 day simple moving average is $103.50. The stock has a market cap of $23.92 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 1.79 and a beta of 1.22. Northern Trust Corporation has a 12 month low of $80.81 and a 12 month high of $125.02. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.57.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.05. Northern Trust had a net margin of 13.93% and a return on equity of 13.73%. The company had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.95 billion. On average, sell-side analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Friday, June 6th. Northern Trust's payout ratio is 27.99%.

Insiders Place Their Bets

In related news, EVP Clive Bellows sold 3,300 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $99.95, for a total transaction of $329,835.00. Following the transaction, the executive vice president now directly owns 28,736 shares of the company's stock, valued at $2,872,163.20. This trade represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Teresa Parker sold 6,467 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $100.62, for a total transaction of $650,709.54. Following the transaction, the insider now directly owns 79,391 shares in the company, valued at $7,988,322.42. The trade was a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,772 shares of company stock worth $981,069. 0.77% of the stock is currently owned by company 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.