BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 12.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 34,137 shares of the asset manager's stock after selling 4,941 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Northern Trust were worth $3,073,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Allworth Financial LP grew its position in shares of Northern Trust by 9.1% during the 3rd quarter. Allworth Financial LP now owns 1,170 shares of the asset manager's stock valued at $105,000 after acquiring an additional 98 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in Northern Trust by 14.5% in the third 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 period. DekaBank Deutsche Girozentrale increased its position in shares of Northern Trust by 0.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager's stock valued at $3,608,000 after buying an additional 120 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its stake in shares of 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 period. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Northern Trust by 1.3% during the 2nd 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 in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Trading Down 0.5 %

Shares of Northern Trust stock traded down $0.57 during trading hours on Wednesday, hitting $108.77. The company's stock had a trading volume of 1,147,311 shares, compared to its average volume of 1,293,334. The stock has a market cap of $21.56 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 1.24 and a beta of 1.07. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust Co. has a twelve month low of $76.67 and a twelve month high of $111.87. The firm has a fifty day moving average of $100.82 and a 200-day moving average of $91.11.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Friday, December 6th. Northern Trust's dividend payout ratio is presently 37.31%.

Insider Activity

In other Northern Trust news, insider Teresa Parker sold 4,439 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $100.86, for a total value of $447,717.54. Following the completion of the transaction, the insider now owns 79,326 shares of the company's stock, valued at $8,000,820.36. This trade represents a 5.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Thomas A. South sold 5,000 shares of the company's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $105.80, for a total value of $529,000.00. Following the sale, the executive vice president now directly owns 49,756 shares in the company, valued at $5,264,184.80. This represents a 9.13 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,006 shares of company stock valued at $8,653,352. Company insiders own 0.64% of the company's stock.

Analyst Ratings Changes

NTRS has been the topic of several recent analyst reports. Morgan Stanley increased their price objective on shares of Northern Trust from $97.00 to $103.00 and gave the company an "underweight" rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods lifted their price objective on Northern Trust from $100.00 to $113.00 and gave the stock a "market perform" rating in a report on Tuesday. Royal Bank of Canada boosted their price objective on Northern Trust from $100.00 to $107.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. The Goldman Sachs Group downgraded Northern Trust from a "neutral" rating to a "sell" rating and decreased their target price for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. Finally, Wells Fargo & Company boosted their price target on Northern Trust from $108.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Friday, November 15th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $103.00.

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.