Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Citigroup Inc.

Citigroup Inc. reduced its position in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 6.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 137,346 shares of the asset manager's stock after selling 9,191 shares during the quarter. Citigroup Inc. owned about 0.07% of Northern Trust worth $12,365,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NTRS. Massachusetts Financial Services Co. MA grew its stake in shares of Northern Trust by 13.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager's stock worth $622,596,000 after buying an additional 850,556 shares in the last quarter. Primecap Management Co. CA grew its position in Northern Trust by 0.5% in the third quarter. Primecap Management Co. CA now owns 7,085,117 shares of the asset manager's stock worth $637,873,000 after acquiring an additional 38,360 shares in the last quarter. Ariel Investments LLC grew its position in Northern Trust by 3.6% in the second quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager's stock worth $222,060,000 after acquiring an additional 91,816 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Northern Trust by 12.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager's stock worth $168,253,000 after acquiring an additional 219,387 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Northern Trust by 2.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,680 shares of the asset manager's stock valued at $117,713,000 after purchasing an additional 26,984 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on NTRS shares. Evercore ISI increased their price target on Northern Trust from $86.00 to $103.00 and gave the company an "in-line" rating in a report on Thursday, October 24th. Bank of America raised their target price on shares of Northern Trust from $103.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Northern Trust from $100.00 to $108.00 and gave the stock a "hold" rating in a research report on Monday, November 11th. StockNews.com lowered Northern Trust from a "buy" rating to a "hold" rating in a research report on Wednesday. Finally, Royal Bank of Canada raised their price target on Northern Trust from $100.00 to $107.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $100.67.

Northern Trust Stock Up 0.5 %

Shares of NTRS stock traded up $0.57 on Friday, hitting $111.16. The stock had a trading volume of 621,275 shares, compared to its average volume of 1,293,595. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a one year low of $76.67 and a one year high of $111.87. The business has a 50 day moving average price of $99.73 and a 200 day moving average price of $90.59. The company has a market cap of $22.03 billion, a PE ratio of 13.83, a P/E/G ratio of 1.24 and a beta of 1.06.

Northern Trust Dividend Announcement

The firm 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 $0.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.70%. Northern Trust's payout ratio is presently 37.31%.

Insider Activity

In related news, EVP Thomas A. South sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $105.80, for a total transaction of $529,000.00. Following the completion of the transaction, the executive vice president now owns 49,756 shares in the company, valued at $5,264,184.80. The trade was a 9.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the stock in a transaction that occurred 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 directly owns 46,078 shares of the company's stock, valued at $4,630,839. The trade was a 37.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,906 shares of company stock worth $7,643,252. Corporate insiders own 0.64% of the company's stock.

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.