Franklin Resources Inc. reduced its position in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 35.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 158,475 shares of the asset manager's stock after selling 85,394 shares during the period. Franklin Resources Inc. owned 0.08% of Northern Trust worth $14,906,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of NTRS. Innealta Capital LLC acquired a new position in Northern Trust in the 2nd quarter valued at $26,000. Ridgewood Investments LLC acquired a new position in Northern Trust in the second quarter valued at $30,000. Northwest Investment Counselors LLC purchased a new position in Northern Trust during the third quarter worth about $39,000. Capital Performance Advisors LLP acquired a new stake in Northern Trust in the 3rd quarter worth about $48,000. Finally, Eastern Bank purchased a new stake in Northern Trust in the 3rd quarter valued at about $51,000. Hedge funds and other institutional investors own 83.19% of the company's stock.
Northern Trust Stock Up 2.0 %
NTRS stock traded up $1.97 during trading on Friday, reaching $102.48. The stock had a trading volume of 3,477,116 shares, compared to its average volume of 1,312,543. The firm has a fifty day moving average price of $104.44 and a 200 day moving average price of $92.88. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $20.31 billion, a P/E ratio of 12.75, a PEG ratio of 1.18 and a beta of 1.07. Northern Trust Co. has a 1-year low of $76.67 and a 1-year high of $111.87.
Northern Trust Announces Dividend
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 paid a dividend of $0.75 per share. 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 2.93%. Northern Trust's dividend payout ratio (DPR) is presently 37.31%.
Analyst Ratings Changes
Several research firms recently issued reports on NTRS. Evercore ISI raised their target price on shares of Northern Trust from $86.00 to $103.00 and gave the stock an "in-line" rating in a research report on Thursday, October 24th. UBS Group lifted their price target on shares of Northern Trust from $86.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, October 8th. Wells Fargo & Company upped their price objective on Northern Trust from $108.00 to $110.00 and gave the stock an "equal weight" rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft lifted their target price on Northern Trust from $100.00 to $108.00 and gave the company a "hold" rating in a report on Monday, November 11th. Finally, Keefe, Bruyette & Woods raised 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, December 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $105.00.
Check Out Our Latest Stock Report on Northern Trust
Insider Buying and Selling at Northern Trust
In other news, insider Teresa Parker sold 4,439 shares of the company's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $100.86, for a total value of $447,717.54. Following the sale, the insider now owns 79,326 shares in the company, valued at approximately $8,000,820.36. This represents a 5.30 % decrease in their position. 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 stock in a transaction dated 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 transaction, the insider now directly owns 46,078 shares in the company, valued at $4,630,839. The trade was a 37.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 82,151 shares of company stock worth $8,489,889 in the last 90 days. 0.64% of the stock is owned by corporate insiders.
Northern Trust Company Profile
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Free Report)
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.
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