Bridgewater Associates LP raised its stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 294.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,648 shares of the asset manager's stock after purchasing an additional 13,918 shares during the period. Bridgewater Associates LP's holdings in Northern Trust were worth $1,679,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP raised its stake in Northern Trust by 9.1% during the 3rd quarter. Allworth Financial LP now owns 1,170 shares of the asset manager's stock worth $105,000 after acquiring an additional 98 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Northern Trust by 14.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the asset manager's stock valued at $83,000 after purchasing an additional 117 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Northern Trust by 0.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager's stock valued at $3,608,000 after purchasing an additional 120 shares during the period. Mesirow Financial Investment Management Inc. grew its stake in Northern Trust by 0.4% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager's stock worth $3,212,000 after buying an additional 127 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Northern Trust by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager's stock valued at $889,000 after buying an additional 131 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.
Insider Buying and Selling at Northern Trust
In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the business's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thomas A. South sold 5,000 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $105.80, for a total value of $529,000.00. Following the sale, the executive vice president now owns 49,756 shares of the company's stock, valued at $5,264,184.80. This represents a 9.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,906 shares of company stock worth $7,643,252 in the last 90 days. 0.64% of the stock is owned by company insiders.
Northern Trust Price Performance
NTRS traded down $1.27 during midday trading on Monday, reaching $109.89. 987,221 shares of the company's stock were exchanged, compared to its average volume of 1,292,271. The business's 50-day moving average price is $99.73 and its 200 day moving average price is $90.65. The stock has a market capitalization of $21.78 billion, a PE ratio of 13.83, a P/E/G ratio of 1.25 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust Co. has a 1-year low of $76.67 and a 1-year high of $111.87.
Northern Trust Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Friday, December 6th. Northern Trust's dividend payout ratio is currently 37.31%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on NTRS. Wells Fargo & Company raised their target price on shares of Northern Trust from $108.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Friday, November 15th. Barclays lifted their price objective 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 downgraded shares of Northern Trust from a "buy" rating to a "hold" rating in a research note on Wednesday, November 27th. UBS Group boosted their price target on Northern Trust from $86.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley increased their price objective on Northern Trust from $97.00 to $103.00 and gave the stock an "underweight" rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $100.67.
Check Out Our Latest Research Report on Northern Trust
Northern Trust Profile
(
Free Report)
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.
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