Northern Trust Corporation $NTRS Shares Sold by Rathbones Group PLC

Key Points

• Rathbones Group PLC cut its Northern Trust stake by 72.2% in the first quarter, selling 25,171 shares and retaining 9,697 shares valued at approximately $1.35 million. Institutional investors collectively own 83.19% of NTRS.
• Analyst sentiment remains mixed, with Northern Trust receiving an average “Hold” rating and an average price target of $180.68. Recent targets range from $169 to $200, including upgrades from Bank of America and Goldman Sachs but a downgrade from RBC.
• Northern Trust raised its quarterly dividend from $0.80 to $0.88 per share, implying an annualized dividend of $3.52 and a 1.9% yield. The stock opened at $182.41, near its 52-week high of $191.60.

Rathbones Group PLC reduced its stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 72.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,697 shares of the asset manager's stock after selling 25,171 shares during the period. Rathbones Group PLC's holdings in Northern Trust were worth $1,353,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Reflection Asset Management purchased a new position in shares of Northern Trust in the 4th quarter valued at $25,000. Triumph Capital Management acquired a new position in Northern Trust in the third quarter valued at $25,000. Elyxium Wealth LLC acquired a new position in Northern Trust in the fourth quarter valued at $34,000. International Assets Investment Management LLC purchased a new position in shares of Northern Trust during the fourth quarter worth about $35,000. Finally, Transamerica Financial Advisors LLC grew its holdings in shares of Northern Trust by 54.1% during the fourth quarter. Transamerica Financial Advisors LLC now owns 265 shares of the asset manager's stock worth $36,000 after purchasing an additional 93 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.

Analyst Ratings Changes

NTRS has been the subject of several research reports. Bank of America boosted their target price on Northern Trust from $190.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Royal Bank Of Canada downgraded Northern Trust from an "outperform" rating to a "sector perform" rating and set a $178.00 price target on the stock. in a research note on Wednesday, July 22nd. The Goldman Sachs Group lifted their price target on Northern Trust from $151.00 to $169.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 22nd. Keefe, Bruyette & Woods boosted their price objective on Northern Trust from $157.00 to $175.00 and gave the company an "underperform" rating in a research note on Thursday, July 9th. Finally, Zacks Research raised Northern Trust from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Northern Trust has an average rating of "Hold" and an average target price of $180.68.

Northern Trust Stock Up 0.1%

NTRS opened at $182.41 on Wednesday. Northern Trust Corporation has a 52 week low of $121.12 and a 52 week high of $191.60. The business has a 50 day moving average price of $176.84 and a two-hundred day moving average price of $159.78. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. The company has a market cap of $33.37 billion, a PE ratio of 15.66, a P/E/G ratio of 1.03 and a beta of 1.25.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. This is a boost from Northern Trust's previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. Northern Trust's dividend payout ratio (DPR) is currently 27.47%.

Insider Buying and Selling at Northern Trust

In related news, Director Robert Edward Jr. Moritz purchased 255 shares of the firm's stock in a transaction that occurred on Wednesday, July 29th. The stock was purchased at an average cost of $179.57 per share, with a total value of $45,790.35. Following the completion of the acquisition, the director directly owned 8,400 shares in the company, valued at $1,508,388. This trade represents a 3.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.66% of the stock is currently owned by corporate insiders.

About Northern Trust

Northern Trust Corporation NASDAQ: NTRS is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company's core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust's product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.

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