Confluence Investment Management LLC Trims Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Confluence Investment Management LLC reduced its position in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 0.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,149,397 shares of the asset manager's stock after selling 8,197 shares during the quarter. Northern Trust makes up about 1.4% of Confluence Investment Management LLC's holdings, making the stock its 24th largest position. Confluence Investment Management LLC owned about 0.57% of Northern Trust worth $103,480,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Olistico Wealth LLC bought a new stake in shares of Northern Trust in the second quarter valued at approximately $25,000. Innealta Capital LLC purchased a new stake in shares of Northern Trust during the second quarter worth $26,000. Ridgewood Investments LLC bought a new position in shares of Northern Trust in the second quarter worth $30,000. Versant Capital Management Inc raised its stake in shares of Northern Trust by 343.9% during the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager's stock valued at $37,000 after purchasing an additional 337 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new stake in Northern Trust during the 3rd quarter worth about $39,000. 83.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on NTRS shares. Morgan Stanley lifted 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. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Northern Trust from $84.00 to $94.00 and gave the company a "hold" rating in a research note on Monday, September 23rd. Royal Bank of Canada increased their target price on shares of Northern Trust from $100.00 to $107.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Bank of America boosted their price target on shares of Northern Trust from $103.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Finally, UBS Group increased their price objective on Northern Trust from $86.00 to $92.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 8th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $99.33.

Insider Transactions at Northern Trust

In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the company's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the sale, the director now directly owns 1,000 shares in the company, valued at $88,120. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the business's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the sale, the director now owns 1,000 shares in the company, valued at approximately $88,120. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $100.50, for a total transaction of $2,801,337.00. Following the completion of the transaction, the insider now owns 46,078 shares in the company, valued at $4,630,839. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,906 shares of company stock worth $8,176,652. 0.64% of the stock is currently owned by insiders.

Northern Trust Price Performance

Shares of Northern Trust stock traded down $0.07 during trading on Friday, hitting $105.18. 790,976 shares of the stock traded hands, compared to its average volume of 1,338,845. The stock has a market cap of $20.85 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.24 and a beta of 1.06. 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 52 week low of $68.97 and a 52 week high of $108.53. The firm's fifty day moving average is $93.94 and its 200-day moving average is $88.06.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust's dividend payout ratio (DPR) is presently 37.31%.

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.