IFM Investors Pty Ltd Sells 1,407 Shares of Northern Trust Co. (NASDAQ:NTRS)

IFM Investors Pty Ltd trimmed its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 2.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 48,482 shares of the asset manager’s stock after selling 1,407 shares during the period. IFM Investors Pty Ltd’s holdings in Northern Trust were worth $4,311,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ballast Inc. boosted its holdings in Northern Trust by 1.1% during the fourth quarter. Ballast Inc. now owns 12,208 shares of the asset manager’s stock valued at $1,030,000 after purchasing an additional 136 shares in the last quarter. Mather Group LLC. boosted its stake in Northern Trust by 3.6% in the 4th quarter. Mather Group LLC. now owns 4,271 shares of the asset manager’s stock valued at $360,000 after buying an additional 147 shares in the last quarter. Aviance Capital Partners LLC grew its position in Northern Trust by 1.8% in the fourth quarter. Aviance Capital Partners LLC now owns 8,585 shares of the asset manager’s stock valued at $724,000 after acquiring an additional 150 shares during the period. Diversified Trust Co raised its stake in Northern Trust by 1.9% during the fourth quarter. Diversified Trust Co now owns 8,531 shares of the asset manager’s stock worth $720,000 after acquiring an additional 156 shares in the last quarter. Finally, 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 acquiring an additional 158 shares during the period. Institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling

In other Northern Trust news, insider Steven L. Fradkin sold 30,392 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total value of $2,434,703.12. Following the sale, the insider now directly owns 55,707 shares in the company, valued at $4,462,687.77. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.64% of the stock is owned by insiders.

Northern Trust Trading Down 0.1 %

NASDAQ:NTRS traded down $0.06 during mid-day trading on Friday, hitting $83.38. The company had a trading volume of 1,283,507 shares, compared to its average volume of 1,339,063. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust Co. has a fifty-two week low of $62.44 and a fifty-two week high of $89.25. The firm has a market cap of $17.06 billion, a P/E ratio of 18.41, a P/E/G ratio of 1.20 and a beta of 1.13. The business’s fifty day moving average is $83.67 and its two-hundred day moving average is $79.52.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.60%. Northern Trust’s dividend payout ratio is 66.23%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NTRS shares. Bank of America increased their target price on shares of Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. UBS Group raised 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. TheStreet raised Northern Trust from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. Wolfe Research lowered Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 target price for the company. in a research note on Wednesday, January 3rd. Finally, Royal Bank of Canada lifted their price target on Northern Trust from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Northern Trust presently has an average rating of “Hold” and a consensus target price of $84.92.

Northern Trust 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.