Northern Trust Co. (NASDAQ:NTRS) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 7.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 237,748 shares of the asset manager's stock after selling 18,398 shares during the quarter. New York State Common Retirement Fund owned 0.11% of Northern Trust worth $20,061,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Illinois Municipal Retirement Fund grew its position in Northern Trust by 30.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 107,921 shares of the asset manager's stock valued at $9,106,000 after buying an additional 25,397 shares during the period. RWA Wealth Partners LLC bought a new stake in Northern Trust during the fourth quarter valued at approximately $1,583,000. Duality Advisers LP grew its position in Northern Trust by 31.7% during the fourth quarter. Duality Advisers LP now owns 11,185 shares of the asset manager's stock valued at $944,000 after buying an additional 2,695 shares during the period. CWM LLC grew its position in Northern Trust by 23.9% during the fourth quarter. CWM LLC now owns 9,062 shares of the asset manager's stock valued at $765,000 after buying an additional 1,746 shares during the period. Finally, Signaturefd LLC grew its position in Northern Trust by 165.6% during the fourth quarter. Signaturefd LLC now owns 3,615 shares of the asset manager's stock valued at $305,000 after buying an additional 2,254 shares during the period. 83.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on NTRS shares. Jefferies Financial Group upped their price target on shares of Northern Trust from $101.00 to $103.00 and gave the stock a "buy" rating in a research report on Thursday, April 18th. Barclays upped their price target on shares of Northern Trust from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 2nd. Royal Bank of Canada upped their price target on shares of Northern Trust from $82.00 to $86.00 and gave the stock an "outperform" rating in a research report on Friday, January 19th. TheStreet upgraded shares of Northern Trust from a "c+" rating to a "b-" rating in a research report on Friday, January 12th. Finally, Bank of America upped their price target on shares of Northern Trust from $93.00 to $101.00 and gave the stock a "buy" rating in a research report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Northern Trust has a consensus rating of "Hold" and an average price target of $84.92.

Northern Trust Price Performance

Shares of NTRS stock traded down $0.06 during mid-day trading on Friday, hitting $83.38. The company had a trading volume of 1,283,507 shares, compared to its average volume of 1,339,063. Northern Trust Co. has a 52-week low of $62.44 and a 52-week high of $89.25. The stock's 50 day moving average price is $83.67 and its 200-day moving average price is $79.68. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market capitalization of $17.06 billion, a P/E ratio of 18.41, a P/E/G ratio of 1.20 and a beta of 1.13.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Friday, June 7th. Northern Trust's dividend payout ratio (DPR) is presently 66.23%.

Insider Transactions at Northern Trust

In related 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 transaction of $2,434,703.12. Following the sale, the insider now owns 55,707 shares of the company's stock, valued at $4,462,687.77. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.64% of the company's stock.

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.