78,141 Shares in Northern Trust Co. (NASDAQ:NTRS) Bought by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd purchased a new position in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 78,141 shares of the asset manager's stock, valued at approximately $7,035,000.

Other hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its holdings in Northern Trust by 2.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,861 shares of the asset manager's stock valued at $1,144,000 after purchasing an additional 302 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Northern Trust by 0.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 490,487 shares of the asset manager's stock valued at $43,614,000 after buying an additional 3,861 shares during the period. First Trust Direct Indexing L.P. increased its holdings in shares of Northern Trust by 4.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 4,257 shares of the asset manager's stock worth $379,000 after buying an additional 182 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Northern Trust by 557.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 30,813 shares of the asset manager's stock worth $2,740,000 after buying an additional 26,129 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Northern Trust by 11.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,574 shares of the asset manager's stock valued at $5,886,000 after acquiring an additional 6,978 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Northern Trust from $84.00 to $94.00 and gave the stock a "hold" rating in a report on Monday, September 23rd. Royal Bank of Canada lifted their price target on shares of Northern Trust from $100.00 to $107.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Barclays increased their price objective on shares of Northern Trust from $98.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 24th. Bank of America lifted their target price on shares of Northern Trust from $103.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Finally, UBS Group raised their price objective on Northern Trust from $86.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday, October 8th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $99.33.

Insiders Place Their Bets

In other news, Director Charles A. Tribbett sold 1,855 shares of the 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 transaction, the director now owns 1,000 shares of the company's stock, valued at approximately $88,120. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Charles A. Tribbett sold 1,855 shares of the company's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the sale, the director now directly owns 1,000 shares of the company's stock, valued at approximately $88,120. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark C. Gossett sold 6,000 shares of Northern Trust stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total transaction of $533,400.00. Following the completion of the transaction, the executive vice president now directly owns 28,707 shares of the company's stock, valued at approximately $2,552,052.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,636 shares of company stock valued at $6,443,204 in the last ninety days. Corporate insiders own 0.64% of the company's stock.

Northern Trust Stock Down 0.6 %

Shares of NTRS traded down $0.59 during trading on Friday, reaching $99.93. The company's stock had a trading volume of 1,072,059 shares, compared to its average volume of 1,308,783. The company has a market cap of $19.81 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 1.18 and a beta of 1.08. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average of $92.51 and a two-hundred day moving average of $87.28. Northern Trust Co. has a twelve month low of $67.46 and a twelve month high of $104.25.

Northern Trust Announces Dividend

The business 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 is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 3.00%. Northern Trust's dividend payout ratio (DPR) is 37.31%.

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.