Martingale Asset Management L P lifted its position in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 8.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 59,118 shares of the asset manager's stock after purchasing an additional 4,564 shares during the period. Martingale Asset Management L P's holdings in Northern Trust were worth $5,322,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in NTRS. FMR LLC grew its holdings in Northern Trust by 9.3% in the 3rd quarter. FMR LLC now owns 18,187,663 shares of the asset manager's stock worth $1,637,435,000 after acquiring an additional 1,542,685 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Northern Trust by 13.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager's stock valued at $622,596,000 after purchasing an additional 850,556 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in Northern Trust by 4,660.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 399,932 shares of the asset manager's stock worth $33,586,000 after buying an additional 391,531 shares during the period. Primecap Management Co. CA grew its position in shares of Northern Trust by 3.9% in the 2nd quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager's stock worth $591,787,000 after buying an additional 261,285 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Northern Trust by 12.3% during 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 during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, Director Charles A. Tribbett sold 1,855 shares of the company'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 completion of the transaction, the director now owns 1,000 shares in the company, valued at approximately $88,120. This represents a 64.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Peter Cherecwich sold 16,153 shares of Northern Trust stock in a transaction on 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,906 shares of company stock worth $7,643,252. Corporate insiders own 0.64% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have recently commented on NTRS shares. Bank of America raised their target price on shares of Northern Trust from $103.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Royal Bank of Canada increased 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. The Goldman Sachs Group downgraded shares of Northern Trust from a "neutral" rating to a "sell" rating and reduced their price target for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. Wells Fargo & Company upped their price target on Northern Trust from $108.00 to $110.00 and gave the company an "equal weight" rating in a report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Northern Trust from $100.00 to $108.00 and gave the stock a "hold" rating in a research report on Monday, November 11th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $100.67.
View Our Latest Research Report on Northern Trust
Northern Trust Stock Performance
Northern Trust stock traded up $0.57 during midday trading on Friday, hitting $111.16. The stock had a trading volume of 621,275 shares, compared to its average volume of 1,293,595. The company has a market capitalization of $22.03 billion, a PE ratio of 13.83, a P/E/G ratio of 1.24 and a beta of 1.06. Northern Trust Co. has a 52-week low of $76.67 and a 52-week high of $111.87. The firm's fifty day moving average is $99.73 and its two-hundred day moving average is $90.59. 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 Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust's dividend payout ratio is currently 37.31%.
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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