Northern Trust Co. (NASDAQ:NTRS) Shares Sold by KBC Group NV

KBC Group NV lessened its stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 20.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 319,550 shares of the asset manager's stock after selling 82,903 shares during the quarter. KBC Group NV owned 0.16% of Northern Trust worth $28,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Olistico Wealth LLC purchased a new position in shares of Northern Trust in the second quarter worth $25,000. Innealta Capital LLC purchased a new position in Northern Trust in the 2nd quarter worth about $26,000. Ridgewood Investments LLC purchased a new position in Northern Trust in the 2nd quarter worth about $30,000. Versant Capital Management Inc lifted its stake in 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 acquiring an additional 337 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Northern Trust during the 3rd quarter valued at about $39,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Bank of America increased their price objective 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. Deutsche Bank Aktiengesellschaft upped their target price on shares of Northern Trust from $100.00 to $108.00 and gave the company a "hold" rating in a report on Monday, November 11th. UBS Group lifted their price target 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 report on Tuesday. Finally, Evercore ISI raised their price objective on Northern Trust from $86.00 to $103.00 and gave the stock an "in-line" rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $100.67.

Northern Trust Trading Up 1.5 %

Shares of NTRS traded up $1.64 during midday trading on Friday, hitting $107.60. The stock had a trading volume of 1,955,051 shares, compared to its average volume of 1,302,822. Northern Trust Co. has a 1 year low of $73.98 and a 1 year high of $108.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The stock's 50 day moving average is $95.68 and its 200 day moving average is $88.86. The firm has a market cap of $21.33 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.20 and a beta of 1.06.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Friday, December 6th. Northern Trust's dividend payout ratio is currently 37.31%.

Insider Activity at Northern Trust

In other news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the firm's stock in a transaction 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 transaction, the insider now owns 46,078 shares in the company, valued at approximately $4,630,839. This trade represents a 37.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Peter Cherecwich sold 16,153 shares of the stock in a transaction dated Thursday, November 7th. The stock was 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. The trade was a 78.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,906 shares of company stock worth $8,176,652 in the last quarter. 0.64% of the stock is owned by company insiders.

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.