New York State Teachers Retirement System decreased its position in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 5.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 200,667 shares of the asset manager's stock after selling 11,514 shares during the quarter. New York State Teachers Retirement System owned 0.10% of Northern Trust worth $18,066,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of NTRS. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Northern Trust by 6.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 360,640 shares of the asset manager's stock valued at $32,111,000 after buying an additional 23,020 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Northern Trust by 557.8% in the first quarter. Sequoia Financial Advisors LLC now owns 30,813 shares of the asset manager's stock valued at $2,740,000 after acquiring an additional 26,129 shares during the period. Bessemer Group Inc. boosted its position 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 in the last quarter. AIA Group Ltd grew its stake in shares of Northern Trust by 4.3% during the 1st quarter. AIA Group Ltd now owns 602,785 shares of the asset manager's stock worth $53,600,000 after purchasing an additional 24,791 shares during the period. Finally, Intech Investment Management LLC increased its holdings in shares of 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 purchasing an additional 53,990 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.
Northern Trust Price Performance
NTRS traded down $0.59 on Friday, hitting $99.93. 1,072,070 shares of the company's stock were exchanged, compared to its average volume of 1,289,943. Northern Trust Co. has a fifty-two week low of $67.46 and a fifty-two week high of $104.25. The stock has a market cap of $19.81 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 1.17 and a beta of 1.06. The firm has a 50-day moving average price of $92.51 and a 200-day moving average price of $87.34. 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 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 given 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 payout ratio is presently 37.31%.
Analysts Set New Price Targets
A number of brokerages recently issued reports on NTRS. Deutsche Bank Aktiengesellschaft increased their price target on shares of 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 raised their target price on Northern Trust from $100.00 to $107.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Morgan Stanley lifted their price target on Northern Trust from $97.00 to $103.00 and gave the company an "underweight" rating in a research note on Thursday, October 24th. UBS Group increased their price target on Northern Trust from $86.00 to $92.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 8th. Finally, Barclays boosted their price objective on Northern Trust from $98.00 to $115.00 and gave the company an "equal weight" rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $99.33.
View Our Latest Report on Northern Trust
Insider Activity at Northern Trust
In related news, Director Charles A. Tribbett sold 1,855 shares of Northern Trust 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 transaction, the director now owns 1,000 shares in the company, valued at approximately $88,120. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Teresa Parker sold 5,883 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the sale, the executive vice president now owns 83,765 shares of the company's stock, valued at $7,041,285.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction that occurred 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 sale, the director now directly owns 1,000 shares in the company, valued at approximately $88,120. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,636 shares of company stock valued at $6,443,204. Corporate insiders own 0.64% of the company's stock.
About Northern Trust
(
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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