Russell Investments Group Ltd. Sells 335,024 Shares of Northern Trust Co. (NASDAQ:NTRS)

Russell Investments Group Ltd. trimmed its position in Northern Trust Co. (NASDAQ:NTRS) by 38.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 531,406 shares of the asset manager’s stock after selling 335,024 shares during the period. Russell Investments Group Ltd.’s holdings in Northern Trust were worth $44,852,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new stake in Northern Trust during the 4th quarter valued at about $28,000. Quent Capital LLC lifted its holdings in shares of Northern Trust by 77.8% during the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 158 shares in the last quarter. Allworth Financial LP boosted its position in shares of Northern Trust by 94.1% during the fourth quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock valued at $30,000 after buying an additional 174 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in Northern Trust by 306.3% in the 3rd quarter. Hexagon Capital Partners LLC now owns 581 shares of the asset manager’s stock worth $40,000 after buying an additional 438 shares in the last quarter. Finally, Covestor Ltd lifted its stake in Northern Trust by 147.5% during the 3rd quarter. Covestor Ltd now owns 604 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 360 shares during the period. Institutional investors own 83.19% of the company’s stock.

Northern Trust Price Performance

NASDAQ:NTRS opened at $83.56 on Tuesday. The stock has a market cap of $17.10 billion, a PE ratio of 18.45, a P/E/G ratio of 1.20 and a beta of 1.13. 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 business’s 50-day simple moving average is $83.74 and its two-hundred day simple moving average is $79.80. Northern Trust Co. has a 52 week low of $62.44 and a 52 week high of $89.25.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a $0.75 dividend. The ex-dividend date is Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a yield of 3.59%. Northern Trust’s dividend payout ratio is presently 66.23%.

Insider Buying and Selling at Northern Trust

In other news, insider Steven L. Fradkin sold 30,392 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NTRS. Wolfe Research lowered shares of Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 price target for the company. in a research note on Wednesday, January 3rd. UBS Group increased their price target on Northern Trust from $72.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, January 9th. Royal Bank of Canada raised their price target on Northern Trust from $82.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Barclays upped their price objective on Northern Trust from $90.00 to $98.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Bank of America boosted their price target on Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Northern Trust presently has an average rating of “Hold” and an average price target of $84.92.

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.