Kentucky Retirement Systems Acquires 6,613 Shares of Northern Trust Corporation $NTRS

Kentucky Retirement Systems grew its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 55.4% in the first quarter, Holdings Channel reports. The firm owned 18,547 shares of the asset manager’s stock after acquiring an additional 6,613 shares during the period. Kentucky Retirement Systems’ holdings in Northern Trust were worth $2,589,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NTRS. Empowered Funds LLC grew its stake in Northern Trust by 13.3% in the 1st quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock worth $1,984,000 after acquiring an additional 2,363 shares in the last quarter. Woodline Partners LP raised its stake in shares of Northern Trust by 39.1% during the first quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock valued at $1,633,000 after acquiring an additional 4,653 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Northern Trust by 79.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock valued at $171,000 after acquiring an additional 596 shares in the last quarter. WINTON GROUP Ltd bought a new position in Northern Trust in the second quarter worth approximately $267,000. Finally, Daiwa Securities Group Inc. grew its stake in Northern Trust by 4.6% in the second quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock worth $3,714,000 after purchasing an additional 1,275 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Trading Up 2.7%

Shares of NASDAQ NTRS opened at $182.51 on Friday. Northern Trust Corporation has a 1-year low of $121.12 and a 1-year high of $191.60. The business has a fifty day moving average price of $176.01 and a 200 day moving average price of $159.01. The stock has a market capitalization of $33.77 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 1.00 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.62.

Northern Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. Northern Trust’s payout ratio is currently 30.21%.

Analyst Ratings Changes

NTRS has been the subject of a number of research analyst reports. Citigroup lifted their target price on Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, June 30th. The Goldman Sachs Group increased 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. Royal Bank Of Canada downgraded Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price objective for the company. in a report on Wednesday, July 22nd. Zacks Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings upgraded shares of Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. One research 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, Northern Trust presently has an average rating of “Hold” and a consensus target price of $180.25.

Insider Activity at Northern Trust

In other news, Director Robert Edward Jr. Moritz purchased 255 shares of the stock in a transaction dated Wednesday, July 29th. The shares were acquired at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the acquisition, the director owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. This represents a 3.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.66% of the company’s stock.

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.