Allspring Global Investments Holdings LLC acquires 131 shares of Northern Trust Co. (NASDAQ:NTRS)

VaselineSeptember 5, 2024

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Allspring Global Investments Holdings LLC grew its holdings in Northern Trust Co. (NASDAQ:NTRS – Free Report) by 1.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,584 shares of the asset manager’s stock after buying an additional 131 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Northern Trust were worth $889,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bayesian Capital Management LP boosted its stake in Northern Trust by 986.3% in the fourth quarter. Bayesian Capital Management LP now owns 37,900 shares of the asset manager’s stock valued at $3,198,000 after buying an additional 34,411 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Northern Trust by 6.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 360,640 shares of the asset manager’s stock worth $32,111,000 after purchasing an additional 23,020 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Northern Trust by 557.8% in the first quarter. Sequoia Financial Advisors LLC now owns 30,813 shares of the asset manager’s stock worth $2,740,000 after purchasing an additional 26,129 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Northern Trust by 668.0% in the first quarter. Bessemer Group Inc. now owns 20,205 shares of the asset manager’s stock worth $1,797,000 after purchasing an additional 17,574 shares during the period. Finally, AIA Group Ltd grew its position in shares of Northern Trust by 4.3% in the first quarter. AIA Group Ltd now owns 602,785 shares of the asset manager’s stock worth $53,600,000 after purchasing an additional 24,791 shares during the period. 83.19% of the shares are currently owned by institutional investors and hedge funds.

Insiders place their bets

In related news, EVP Mark C. Gossett sold 6,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total transaction of $533,400.00. Following the transaction, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at $2,552,052.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In related news, EVP Mark C. Gossett sold 6,000 shares of Northern Trust stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total transaction of $533,400.00. Following the sale, the executive vice president now directly owns 28,707 shares in the company, valued at $2,552,052.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this hyperlink. Also, EVP Teresa Parker sold 5,883 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction of $494,524.98. Following the sale, the executive vice president now owns 83,765 shares of the company’s stock, valued at approximately $7,041,285.90. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s shares.

Changes in Analyst Ratings

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Several research firms recently issued reports on NTRS. Goldman Sachs Group dropped their target price on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft cut their price target on Northern Trust from $85.00 to $84.00 and set a “hold” rating on the stock in a research report on Thursday, August 15th. Morgan Stanley cut their price target on Northern Trust from $97.00 to $93.00 and set an “underweight” rating for the company in a report on Tuesday, July 30th. Keefe, Bruyette & Woods cut their price target on Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a report on Thursday, June 27th. Finally, Royal Bank of Canada raised their price objective on shares of Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday. July 18. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $88.75, according to MarketBeat.

Check out our latest research report on NTRS

Northern Trust trading down 0.6%

NASDAQ:NTRS opened at $89.45 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71, and a quick ratio of 0.71. Northern Trust Co. has a one year low of $62.44 and a one year high of $92.46. The company has a market cap of $18.04 billion, a PE ratio of 19.75, a PEG ratio of 1.53 and a beta of 1.10. The firm has a 50-day moving average of $86.47 and a 200-day moving average of $84.63.

Northern Trust (NASDAQ:NTRS – Get Free Report ) last issued its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.03. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The company’s revenue for the quarter was up 53.8% year over year. During the same period in the previous year, the company posted EPS of $1.79. As a group, equities research analysts expect that Northern Trust Co. to post 7.01 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a dividend of $0.75 per share. This represents an annualized dividend of $3.00 and a yield of 3.35%. The ex-dividend date of this dividend is Friday, September 6. Northern Trust’s dividend payout ratio (DPR) is currently 66.23%.

Northern Trust Company Profile

(Free Report)

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 provides asset maintenance and related services, including custody, fund administration, investment operations outsourcing, investment management, investment analysis and risk services, employee benefit services, securities lending, foreign exchange , treasury management, brokerage services, transition management services, banking and cash management services.