abrdn plc Has $36.67 Million Holdings in Northern Trust Co. (NASDAQ:NTRS)

abrdn plc raised its position in Northern Trust Co. (NASDAQ:NTRS) by 16.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 434,559 shares of the asset manager’s stock after buying an additional 62,657 shares during the period. abrdn plc’s holdings in Northern Trust were worth $36,668,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NTRS. FMR LLC raised its stake in shares of Northern Trust by 1.2% in the third quarter. FMR LLC now owns 10,791,735 shares of the asset manager’s stock worth $749,810,000 after acquiring an additional 126,172 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Northern Trust by 4.2% in the third quarter. Primecap Management Co. CA now owns 6,497,047 shares of the asset manager’s stock worth $451,415,000 after acquiring an additional 264,805 shares during the last quarter. Northern Trust Corp raised its stake in shares of Northern Trust by 1.5% in the third quarter. Northern Trust Corp now owns 5,955,048 shares of the asset manager’s stock worth $413,757,000 after acquiring an additional 89,696 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Northern Trust by 1.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,980,072 shares of the asset manager’s stock worth $346,015,000 after acquiring an additional 64,707 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Northern Trust by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,486,840 shares of the asset manager’s stock worth $311,746,000 after acquiring an additional 119,484 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Steven L. Fradkin sold 30,392 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total value of $2,434,703.12. Following the completion of the transaction, the insider now owns 55,707 shares in the company, valued at $4,462,687.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on NTRS. Barclays boosted their target price on shares of Northern Trust from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Jefferies Financial Group boosted their price target on shares of Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. UBS Group boosted their price target on shares of Northern Trust from $72.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. Bank of America boosted their price target on shares of Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, Evercore ISI boosted their price target on shares of Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $84.92.

Northern Trust Stock Up 2.6 %

Northern Trust stock opened at $83.54 on Tuesday. The stock has a market capitalization of $17.04 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.17 and a beta of 1.13. Northern Trust Co. has a twelve month low of $62.44 and a twelve month high of $89.25. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average of $83.31 and a 200-day moving average of $79.22.

Northern Trust Dividend Announcement

The business also recently declared 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 3.59%. The ex-dividend date is Friday, June 7th. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

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.