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

IFM Investors Pty Ltd lowered its position in Northern Trust Co. (NASDAQ:NTRS) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Spartan Planning & Wealth Management increased its position in shares of Northern Trust by 10,566.7% during the fourth quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock worth $27,000 after acquiring an additional 317 shares in the last quarter. Fortitude Family Office LLC bought a new stake in Northern Trust during the 4th quarter worth approximately $28,000. Quent Capital LLC increased its holdings in Northern Trust by 77.8% during the 4th quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after purchasing an additional 158 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Northern Trust by 94.1% in the fourth quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 174 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in shares of Northern Trust by 306.3% during the third quarter. Hexagon Capital Partners LLC now owns 581 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 438 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Analysts Set New Price Targets

NTRS has been the subject of several analyst reports. TheStreet upgraded shares of Northern Trust from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. Jefferies Financial Group lifted their price target on Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Wolfe Research cut Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 price objective on the stock. in a research report on Wednesday, January 3rd. Bank of America raised their price objective on shares of Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, Evercore ISI boosted their target price on Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $84.92.

Northern Trust Stock Performance

Shares of Northern Trust stock traded down $0.06 during trading hours on Friday, reaching $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 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 $89.25. The firm has a market cap of $17.06 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 1.20 and a beta of 1.13. The business has a fifty day simple moving average of $83.67 and a 200 day simple moving average of $79.52.

Northern Trust Announces Dividend

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

Insider Transactions at Northern Trust

In other Northern Trust news, insider Steven L. Fradkin sold 30,392 shares of the firm’s 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 completion of the transaction, the insider now directly 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 SEC, which can be accessed through the SEC website. Insiders own 0.64% of the company’s stock.

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.