NFJ Investment Group LLC acquired a new position in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 85,331 shares of the asset manager's stock, valued at approximately $7,682,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Innealta Capital LLC acquired a new stake in Northern Trust during the second quarter worth about $26,000. Ridgewood Investments LLC acquired a new stake in Northern Trust during the second quarter worth about $30,000. Northwest Investment Counselors LLC acquired a new stake in Northern Trust during the third quarter valued at approximately $39,000. Capital Performance Advisors LLP acquired a new stake in Northern Trust during the third quarter valued at approximately $48,000. Finally, Eastern Bank acquired a new stake in Northern Trust during the third quarter valued at approximately $51,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on NTRS shares. Evercore ISI lifted their target price on shares of Northern Trust from $86.00 to $103.00 and gave the company an "in-line" rating in a research note on Thursday, October 24th. The Goldman Sachs Group cut shares of Northern Trust from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $84.00 to $82.00 in a research report on Thursday, September 26th. UBS Group boosted their price objective on shares of Northern Trust from $86.00 to $92.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods lifted their target price on shares of Northern Trust from $100.00 to $113.00 and gave the stock a "market perform" rating in a report on Tuesday. Finally, Bank of America lifted 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. 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 stock. According to MarketBeat, Northern Trust has an average rating of "Hold" and a consensus price target of $103.00.
View Our Latest Report on NTRS
Northern Trust Stock Performance
Shares of NTRS stock traded down $0.39 on Wednesday, reaching $108.95. The stock had a trading volume of 469,570 shares, compared to its average volume of 1,290,328. 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 firm's 50-day moving average is $100.46 and its two-hundred day moving average is $90.98. The firm has a market capitalization of $21.60 billion, a price-to-earnings ratio of 13.60, a P/E/G ratio of 1.24 and a beta of 1.07. Northern Trust Co. has a 12 month low of $76.67 and a 12 month high of $111.87.
Northern Trust Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.75%. Northern Trust's payout ratio is presently 37.31%.
Insiders Place Their Bets
In related news, EVP Thomas A. South sold 5,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $105.80, for a total transaction of $529,000.00. Following the sale, the executive vice president now owns 49,756 shares in the company, valued at approximately $5,264,184.80. This trade represents a 9.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles A. Tribbett sold 1,855 shares of the 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 owns 1,000 shares in the company, valued at $88,120. This represents a 64.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,006 shares of company stock worth $8,653,352 in the last quarter. 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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