Dynamic Technology Lab Private Ltd Acquires New Holdings in Northern Trust Co. (NASDAQ:NTRS)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,816 shares of the asset manager's stock, valued at approximately $1,424,000.

Other hedge funds have also added to or reduced their stakes in the company. Daiwa Securities Group Inc. lifted its stake in shares of Northern Trust by 11.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 24,668 shares of the asset manager's stock valued at $2,221,000 after purchasing an additional 2,474 shares during the period. Pitcairn Co. grew its position in shares of Northern Trust by 122.4% during the 3rd quarter. Pitcairn Co. now owns 15,951 shares of the asset manager's stock worth $1,436,000 after buying an additional 8,780 shares during the period. Cerity Partners LLC increased its stake in shares of Northern Trust by 5.2% in the 3rd quarter. Cerity Partners LLC now owns 100,675 shares of the asset manager's stock valued at $9,064,000 after acquiring an additional 4,989 shares during the last quarter. Studio Investment Management LLC raised its position in shares of Northern Trust by 3.7% in the 3rd quarter. Studio Investment Management LLC now owns 7,627 shares of the asset manager's stock valued at $692,000 after acquiring an additional 269 shares during the period. Finally, Primecap Management Co. CA grew its holdings in Northern Trust by 0.5% during the third quarter. Primecap Management Co. CA now owns 7,085,117 shares of the asset manager's stock valued at $637,873,000 after purchasing an additional 38,360 shares during the period. Institutional investors own 83.19% of the company's stock.

Northern Trust Stock Performance

NASDAQ:NTRS traded down $0.13 during trading on Wednesday, reaching $110.62. The company's stock had a trading volume of 229,713 shares, compared to its average volume of 1,294,917. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $21.93 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. Northern Trust Co. has a 12 month low of $75.70 and a 12 month high of $111.57. The firm has a 50 day moving average of $98.58 and a 200-day moving average of $90.13.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.71%. Northern Trust's dividend payout ratio (DPR) is currently 37.31%.

Wall Street Analyst Weigh In

NTRS has been the subject of several analyst reports. Barclays increased their price target on shares of Northern Trust from $98.00 to $115.00 and gave the company an "equal weight" rating in a research note on Thursday, October 24th. StockNews.com raised shares of Northern Trust from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. UBS Group lifted their price objective on shares of Northern Trust from $86.00 to $92.00 and gave the company a "neutral" rating in a research note on Tuesday, October 8th. Morgan Stanley raised their target price on Northern Trust from $97.00 to $103.00 and gave the company an "underweight" rating in a report on Thursday, October 24th. Finally, Bank of America boosted their price target on Northern Trust from $103.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $100.67.

Insider Activity at Northern Trust

In other news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the firm's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $100.50, for a total transaction of $2,801,337.00. Following the sale, the insider now owns 46,078 shares in the company, valued at approximately $4,630,839. This trade represents a 37.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Charles A. Tribbett sold 1,855 shares of the firm's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the sale, the director now owns 1,000 shares in the company, valued at $88,120. The trade was a 64.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,906 shares of company stock valued at $7,643,252. Company insiders own 0.64% of the company's stock.

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.