Kentucky Retirement Systems Insurance Trust Fund Acquires 1,985 Shares of Northern Trust Co. (NASDAQ:NTRS)

Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in Northern Trust Co. (NASDAQ:NTRS) by 33.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 7,955 shares of the asset manager’s stock after buying an additional 1,985 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Northern Trust were worth $815,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. FMR LLC increased its stake in Northern Trust by 9.3% in the 3rd quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock worth $1,637,435,000 after acquiring an additional 1,542,685 shares during the last quarter. Primecap Management Co. CA increased its stake in Northern Trust by 0.5% in the 3rd quarter. Primecap Management Co. CA now owns 7,085,117 shares of the asset manager’s stock worth $637,873,000 after acquiring an additional 38,360 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Northern Trust by 9.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock worth $386,809,000 after purchasing an additional 388,692 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Northern Trust by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,577,091 shares of the asset manager’s stock worth $141,986,000 after purchasing an additional 16,500 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of Northern Trust by 201.6% in the 4th quarter. KBC Group NV now owns 963,811 shares of the asset manager’s stock worth $98,791,000 after purchasing an additional 644,261 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.

Insider Transactions at Northern Trust

In other news, EVP Jane Karpinski sold 2,262 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $111.33, for a total value of $251,828.46. Following the completion of the transaction, the executive vice president now owns 17,236 shares of the company’s stock, valued at approximately $1,918,883.88. This represents a 11.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Steven L. Fradkin sold 9,100 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $111.00, for a total value of $1,010,100.00. Following the completion of the transaction, the insider now directly owns 47,797 shares of the company’s stock, valued at $5,305,467. This represents a 15.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,631 shares of company stock valued at $4,550,459. Corporate insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on NTRS. Royal Bank of Canada upped their price objective on Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Bank of America upped their price objective on Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Truist Financial upped their price objective on Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a report on Friday, January 24th. The Goldman Sachs Group upped their price objective on Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a report on Friday, January 24th. Finally, Evercore ISI upped their price objective on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Northern Trust currently has an average rating of “Hold” and a consensus price target of $112.58.

Northern Trust Trading Up 2.7 %

NASDAQ NTRS opened at $113.81 on Wednesday. Northern Trust Co. has a fifty-two week low of $78.75 and a fifty-two week high of $114.67. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. The stock has a 50 day simple moving average of $106.64 and a two-hundred day simple moving average of $99.46. The stock has a market cap of $22.56 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 1.68 and a beta of 1.08.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. On average, analysts forecast that Northern Trust Co. will post 8.25 earnings per share for the current year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, March 14th. Northern Trust’s dividend payout ratio is currently 30.67%.

Northern Trust Company 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.