Kanawha Capital Management LLC Trims Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Kanawha Capital Management LLC reduced its holdings in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 49.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,053 shares of the asset manager's stock after selling 34,816 shares during the period. Kanawha Capital Management LLC's holdings in Northern Trust were worth $3,246,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Olistico Wealth LLC bought a new position in Northern Trust during the second quarter worth $25,000. Innealta Capital LLC bought a new position in shares of Northern Trust during the 2nd quarter worth about $26,000. Ridgewood Investments LLC acquired a new stake in shares of Northern Trust in the 2nd quarter valued at about $30,000. Northwest Investment Counselors LLC bought a new stake in Northern Trust in the 3rd quarter valued at about $39,000. Finally, Versant Capital Management Inc raised 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 worth $37,000 after buying an additional 337 shares during the period. 83.19% of the stock is owned by institutional investors.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, EVP Susan Cohen Levy sold 19,585 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $102.26, for a total transaction of $2,002,762.10. Following the completion of the transaction, the executive vice president now directly owns 17,132 shares of the company's stock, valued at approximately $1,751,918.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the company's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $100.50, for a total transaction of $2,801,337.00. Following the sale, the insider now directly owns 46,078 shares in the company, valued at approximately $4,630,839. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Susan Cohen Levy sold 19,585 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $102.26, for a total transaction of $2,002,762.10. Following the completion of the transaction, the executive vice president now directly owns 17,132 shares of the company's stock, valued at approximately $1,751,918.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,636 shares of company stock worth $6,443,204 over the last three months. 0.64% of the stock is currently owned by insiders.

Northern Trust Stock Performance

Shares of NASDAQ NTRS traded up $0.31 during mid-day trading on Monday, reaching $100.24. 761,287 shares of the company's stock were exchanged, compared to its average volume of 1,306,212. The firm has a 50-day moving average price of $92.73 and a two-hundred day moving average price of $87.51. 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 firm has a market capitalization of $19.87 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 1.17 and a beta of 1.06. Northern Trust Co. has a 52 week low of $68.97 and a 52 week 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 given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust's dividend payout ratio is 37.31%.

Wall Street Analysts Forecast Growth

NTRS has been the subject of a number of research reports. Bank of America raised their price objective on Northern Trust from $103.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Wells Fargo & Company lifted their price target on shares of Northern Trust from $92.00 to $108.00 and gave the company an "equal weight" rating in a research report on Thursday, October 24th. UBS Group upped their price objective on shares of Northern Trust from $86.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday, October 8th. Barclays lifted their price objective on shares of Northern Trust from $98.00 to $115.00 and gave the company an "equal weight" rating in a report on Thursday, October 24th. Finally, Morgan Stanley upped their target price on shares of Northern Trust from $97.00 to $103.00 and gave the stock an "underweight" rating in a report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $99.33.

Northern Trust Profile

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.