Kentucky Retirement Systems Insurance Trust Fund Has $556,000 Holdings in Northern Trust Corporation (NASDAQ:NTRS)

Kentucky Retirement Systems Insurance Trust Fund reduced its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 29.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,633 shares of the asset manager’s stock after selling 2,322 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Northern Trust were worth $556,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Colonial Trust Co SC raised its stake in shares of Northern Trust by 6,400.0% in the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock valued at $27,000 after buying an additional 256 shares in the last quarter. Assetmark Inc. raised its stake in shares of Northern Trust by 528.3% in the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock valued at $39,000 after buying an additional 317 shares in the last quarter. Coppell Advisory Solutions LLC acquired a new position in shares of Northern Trust in the 4th quarter valued at $44,000. True Wealth Design LLC raised its stake in shares of Northern Trust by 84.0% in the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager’s stock valued at $44,000 after buying an additional 194 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Northern Trust in the 4th quarter valued at $51,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Performance

Shares of NASDAQ:NTRS opened at $118.18 on Wednesday. The company has a market capitalization of $22.99 billion, a price-to-earnings ratio of 11.02, a P/E/G ratio of 1.83 and a beta of 1.22. The firm’s 50 day simple moving average is $103.08 and its 200 day simple moving average is $103.36. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust Corporation has a fifty-two week low of $80.81 and a fifty-two week high of $123.31.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.05. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.95 billion. Northern Trust had a net margin of 13.93% and a return on equity of 13.73%. As a group, sell-side analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.00 annualized dividend and a yield of 2.54%. Northern Trust’s dividend payout ratio (DPR) is currently 27.99%.

Insiders Place Their Bets

In other Northern Trust news, EVP Clive Bellows sold 3,300 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $99.95, for a total transaction of $329,835.00. Following the sale, the executive vice president now directly owns 28,736 shares in the company, valued at approximately $2,872,163.20. This trade represents a 10.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Teresa Parker sold 6,467 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $100.62, for a total transaction of $650,709.54. Following the sale, the insider now owns 79,391 shares in the company, valued at $7,988,322.42. This trade represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,772 shares of company stock worth $981,069. Company insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

NTRS has been the subject of a number of recent research reports. Truist Financial dropped their price objective on shares of Northern Trust from $98.00 to $92.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. Evercore ISI lowered their target price on shares of Northern Trust from $104.00 to $100.00 and set an “in-line” rating on the stock in a report on Wednesday, April 23rd. Citigroup lowered their target price on shares of Northern Trust from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Morgan Stanley reaffirmed an “underweight” rating and issued a $103.00 target price (up previously from $101.00) on shares of Northern Trust in a report on Tuesday, June 3rd. Finally, Royal Bank Of Canada lowered their target price on shares of Northern Trust from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Northern Trust presently has an average rating of “Hold” and an average target price of $108.42.

Northern Trust Company 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.