Cornercap Investment Counsel Inc. Acquires Shares of 17,286 Northern Trust Co. (NASDAQ:NTRS)

Cornercap Investment Counsel Inc. purchased a new position in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 17,286 shares of the asset manager's stock, valued at approximately $1,556,000.

Several other institutional investors and hedge funds have also modified their holdings of NTRS. Massachusetts Financial Services Co. MA grew its stake in shares of Northern Trust by 13.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager's stock worth $622,596,000 after purchasing an additional 850,556 shares during the period. Primecap Management Co. CA boosted its stake in Northern Trust by 3.9% during the 2nd quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager's stock worth $591,787,000 after acquiring an additional 261,285 shares during the last quarter. Ariel Investments LLC grew its holdings in shares of Northern Trust by 3.6% in the 2nd quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager's stock valued at $222,060,000 after buying an additional 91,816 shares during the period. Dimensional Fund Advisors LP lifted its stake in Northern Trust by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager's stock valued at $168,253,000 after buying an additional 219,387 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Northern Trust by 2.0% in the second 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. Institutional investors and hedge funds own 83.19% of the company's stock.

Analysts Set New Price Targets

NTRS has been the topic of several recent analyst reports. UBS Group boosted their price objective on shares of Northern Trust from $86.00 to $92.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 8th. StockNews.com raised Northern Trust from a "hold" rating to a "buy" rating in a research note on Tuesday. Royal Bank of Canada lifted their target price on Northern Trust from $100.00 to $107.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Bank of America upped 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, Wells Fargo & Company boosted their price target 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. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $100.67.

Northern Trust Trading Up 1.5 %

NASDAQ NTRS traded up $1.64 on Friday, hitting $107.60. The company's stock had a trading volume of 1,625,169 shares, compared to its average volume of 1,301,336. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a 52-week low of $73.98 and a 52-week high of $108.53. The firm has a market cap of $21.33 billion, a P/E ratio of 13.27, a PEG ratio of 1.20 and a beta of 1.06. The company's 50-day simple moving average is $95.26 and its 200 day simple moving average is $88.69.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.79%. Northern Trust's dividend payout ratio (DPR) is 37.31%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, COO Peter Cherecwich sold 16,153 shares of the company's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the transaction, the chief operating officer now owns 4,397 shares in the company, valued at approximately $462,476.46. This represents a 78.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $163,462.60. Following the sale, the director now owns 1,000 shares of the company's stock, valued at approximately $88,120. This represents a 64.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,906 shares of company stock valued at $8,176,652. 0.64% of the stock is currently owned by company insiders.

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.