National Bank of Canada FI Has $9.28 Million Holdings in Northern Trust Co. (NASDAQ:NTRS)

National Bank of Canada FI cut its stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 12.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,074 shares of the asset manager's stock after selling 14,107 shares during the quarter. National Bank of Canada FI owned about 0.05% of Northern Trust worth $9,280,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NTRS. Innealta Capital LLC purchased a new position in Northern Trust in the 2nd quarter valued at about $26,000. Ridgewood Investments LLC purchased a new position in Northern Trust in the second quarter valued at about $30,000. Northwest Investment Counselors LLC acquired a new stake in Northern Trust during the 3rd quarter valued at approximately $39,000. Capital Performance Advisors LLP purchased a new stake in Northern Trust during the 3rd quarter worth approximately $48,000. Finally, Eastern Bank acquired a new position in shares of Northern Trust in the 3rd quarter valued at approximately $51,000. Institutional investors and hedge funds own 83.19% of the company's stock.

Wall Street Analyst Weigh In

NTRS has been the topic of several research analyst reports. The Goldman Sachs Group cut shares of Northern Trust from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $84.00 to $82.00 in a research report on Thursday, September 26th. Wells Fargo & Company lifted their target price on Northern Trust from $108.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Friday, November 15th. UBS Group boosted their price target on Northern Trust from $86.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, October 8th. StockNews.com upgraded Northern Trust from a "hold" rating to a "buy" rating in a research note on Tuesday. Finally, Bank of America increased their target price on shares of Northern Trust from $103.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Northern Trust has a consensus rating of "Hold" and a consensus price target of $105.00.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the sale, the director now owns 1,000 shares in the company, valued at $88,120. This represents a 64.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the company'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 completion of the transaction, the insider now directly owns 46,078 shares in the company, valued at $4,630,839. This trade represents a 37.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,006 shares of company stock valued at $8,653,352 in the last three months. 0.64% of the stock is currently owned by company insiders.

Northern Trust Price Performance

Shares of NASDAQ:NTRS traded up $0.24 on Thursday, reaching $105.39. 1,567,256 shares of the company traded hands, compared to its average volume of 1,299,245. The stock has a market capitalization of $20.89 billion, a PE ratio of 13.08, a P/E/G ratio of 1.21 and a beta of 1.07. 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 company's 50 day moving average is $102.67 and its 200-day moving average is $91.95. Northern Trust Co. has a fifty-two week low of $76.67 and a fifty-two week high of $111.87.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Friday, December 6th. Northern Trust's dividend payout ratio 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.