Stock Yards Bank & Trust Co. Sells 621 Shares of Northern Trust Co. (NASDAQ:NTRS)

Stock Yards Bank & Trust Co. cut its holdings in Northern Trust Co. (NASDAQ:NTRS) by 15.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,513 shares of the asset manager’s stock after selling 621 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Northern Trust were worth $296,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NTRS. Wellington Management Group LLP boosted its position in shares of Northern Trust by 17.7% during the third quarter. Wellington Management Group LLP now owns 2,415,790 shares of the asset manager’s stock worth $167,849,000 after purchasing an additional 363,747 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of Northern Trust by 4.2% during the third quarter. Primecap Management Co. CA now owns 6,497,047 shares of the asset manager’s stock worth $451,415,000 after purchasing an additional 264,805 shares in the last quarter. AQR Capital Management LLC lifted its position in Northern Trust by 168.3% in the 3rd quarter. AQR Capital Management LLC now owns 407,683 shares of the asset manager’s stock valued at $28,326,000 after acquiring an additional 255,740 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in Northern Trust by 194.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 306,194 shares of the asset manager’s stock valued at $21,274,000 after acquiring an additional 202,167 shares in the last quarter. Finally, Rathbones Group PLC lifted its position in Northern Trust by 938.4% in the 3rd quarter. Rathbones Group PLC now owns 157,822 shares of the asset manager’s stock valued at $10,965,000 after acquiring an additional 142,624 shares in the last quarter. 83.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NTRS shares. Royal Bank of Canada boosted their price objective on shares of Northern Trust from $82.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Barclays boosted their price objective on shares of Northern Trust from $90.00 to $98.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. UBS Group boosted their price objective on shares of Northern Trust from $72.00 to $84.00 and gave the company a “neutral” rating in a research report on Tuesday, January 9th. TheStreet raised shares of Northern Trust from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Finally, Jefferies Financial Group boosted their price objective on shares of Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $84.92.

Northern Trust Stock Up 0.1 %

Northern Trust stock opened at $84.30 on Thursday. The firm has a market capitalization of $17.20 billion, a PE ratio of 18.61, a P/E/G ratio of 1.21 and a beta of 1.13. The company’s 50-day moving average is $83.55 and its 200-day moving average is $79.38. Northern Trust Co. has a fifty-two week low of $62.44 and a fifty-two week high of $89.25. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, June 7th. This represents a $3.00 annualized dividend and a dividend yield of 3.56%. Northern Trust’s dividend payout ratio is presently 66.23%.

Insider Transactions at Northern Trust

In related news, insider Steven L. Fradkin sold 30,392 shares of Northern Trust stock in a transaction dated 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 completion of the sale, the insider now owns 55,707 shares of the company’s stock, valued at approximately $4,462,687.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.64% of the stock is owned by company insiders.

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.