Entropy Technologies LP Sells 26,867 Shares of Northern Trust Co. (NASDAQ:NTRS)

Entropy Technologies LP lessened its holdings in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 76.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,291 shares of the asset manager's stock after selling 26,867 shares during the quarter. Entropy Technologies LP's holdings in Northern Trust were worth $746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co lifted its position in shares of Northern Trust by 6.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 360,640 shares of the asset manager's stock worth $32,111,000 after acquiring an additional 23,020 shares in the last quarter. Bessemer Group Inc. boosted its stake in Northern Trust by 668.0% in the 1st quarter. Bessemer Group Inc. now owns 20,205 shares of the asset manager's stock worth $1,797,000 after purchasing an additional 17,574 shares during the period. Intech Investment Management LLC grew its holdings in Northern Trust by 1,891.1% during the 1st quarter. Intech Investment Management LLC now owns 56,845 shares of the asset manager's stock valued at $5,055,000 after buying an additional 53,990 shares in the last quarter. Swedbank AB bought a new stake in shares of Northern Trust during the first quarter valued at about $1,407,000. Finally, Tidal Investments LLC lifted its holdings in shares of Northern Trust by 141.3% in the first quarter. Tidal Investments LLC now owns 13,771 shares of the asset manager's stock worth $1,224,000 after buying an additional 8,063 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Charles A. Tribbett sold 1,855 shares of Northern Trust 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 transaction, the director now directly owns 1,000 shares of the company's stock, valued at $88,120. This trade represents a 64.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Thomas A. South sold 5,000 shares of the firm'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 transaction, the executive vice president now directly owns 49,756 shares of the company's stock, valued at $5,264,184.80. This represents a 9.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,906 shares of company stock valued at $8,176,652. Company insiders own 0.64% of the company's stock.

Northern Trust Trading Up 1.5 %

NASDAQ:NTRS traded up $1.64 during midday trading on Friday, reaching $107.60. 1,955,051 shares of the stock traded hands, compared to its average volume of 1,302,822. The stock has a market capitalization of $21.33 billion, a P/E ratio of 13.27, a PEG ratio of 1.20 and a beta of 1.06. Northern Trust Co. has a 12 month low of $73.98 and a 12 month high of $108.53. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The company has a fifty day moving average of $95.26 and a 200 day moving average of $88.69.

Northern Trust Dividend Announcement

The firm 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. This represents a $3.00 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust's dividend payout ratio (DPR) is currently 37.31%.

Analysts Set New Price Targets

NTRS has been the topic of a number of analyst reports. UBS Group upped their target price on shares of Northern Trust from $86.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday, October 8th. Evercore ISI lifted their price objective on Northern Trust from $86.00 to $103.00 and gave the company an "in-line" rating in a research note on Thursday, October 24th. Royal Bank of Canada upped their target price on 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 lifted their price objective 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. Finally, The Goldman Sachs Group lowered Northern Trust from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Northern Trust presently has an average rating of "Hold" and a consensus target price of $100.67.

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.