abrdn plc Grows Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

abrdn plc lifted its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 5.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 504,483 shares of the asset manager’s stock after acquiring an additional 27,246 shares during the quarter. abrdn plc owned approximately 0.25% of Northern Trust worth $45,272,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NTRS. Wealth Enhancement Advisory Services LLC increased its stake in shares of Northern Trust by 2.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,861 shares of the asset manager’s stock valued at $1,144,000 after buying an additional 302 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Northern Trust by 0.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 490,487 shares of the asset manager’s stock worth $43,614,000 after acquiring an additional 3,861 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in Northern Trust by 4.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 4,257 shares of the asset manager’s stock valued at $379,000 after purchasing an additional 182 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of Northern Trust by 557.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 30,813 shares of the asset manager’s stock valued at $2,740,000 after purchasing an additional 26,129 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Northern Trust by 11.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,574 shares of the asset manager’s stock worth $5,886,000 after purchasing an additional 6,978 shares during the period. Institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

NTRS has been the subject of a number of recent research reports. Bank of America boosted their price objective on shares of Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. The Goldman Sachs Group lowered Northern Trust from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $84.00 to $82.00 in a research report on Thursday, September 26th. Evercore ISI raised their price objective on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Morgan Stanley lifted their target price on Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $99.33.

Insider Activity at Northern Trust

In other Northern Trust news, EVP Susan Cohen Levy sold 19,585 shares of Northern Trust stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $102.26, for a total transaction of $2,002,762.10. Following the completion of the sale, the executive vice president now owns 17,132 shares of the company’s stock, valued at approximately $1,751,918.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $88,120. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Susan Cohen Levy sold 19,585 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $102.26, for a total transaction of $2,002,762.10. Following the completion of the sale, the executive vice president now directly owns 17,132 shares in the company, valued at $1,751,918.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,636 shares of company stock valued at $6,443,204 in the last ninety days. Company insiders own 0.64% of the company’s stock.

Northern Trust Stock Down 0.8 %

NTRS stock opened at $101.46 on Thursday. The stock has a market capitalization of $20.46 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 1.45 and a beta of 1.08. Northern Trust Co. has a 52 week low of $64.96 and a 52 week high of $104.25. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average of $92.01 and a 200 day moving average of $87.08.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is presently 37.31%.

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.