AIA Group Ltd Increases Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

AIA Group Ltd grew its stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 7.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 577,855 shares of the asset manager's stock after purchasing an additional 40,271 shares during the quarter. Northern Trust accounts for 1.3% of AIA Group Ltd's investment portfolio, making the stock its 14th biggest position. AIA Group Ltd owned 0.29% of Northern Trust worth $52,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of NTRS. Olistico Wealth LLC acquired a new stake in Northern Trust during the 2nd quarter worth about $25,000. Innealta Capital LLC purchased a new stake in shares of Northern Trust in the 2nd quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new position in Northern Trust in the 2nd quarter worth approximately $30,000. Versant Capital Management Inc grew its position 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 purchasing an additional 337 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in Northern Trust during the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 83.19% of the company's stock.

Wall Street Analyst Weigh In

NTRS has been the subject of several research analyst reports. Evercore ISI increased their price objective on Northern Trust from $86.00 to $103.00 and gave the stock an "in-line" rating in a research note on Thursday, October 24th. Wells Fargo & Company raised their target price on shares of Northern Trust from $92.00 to $108.00 and gave the company an "equal weight" rating in a research note on Thursday, October 24th. Royal Bank of Canada boosted their target price on shares of Northern Trust from $100.00 to $107.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Morgan Stanley raised their price target on Northern Trust from $97.00 to $103.00 and gave the company an "underweight" rating in a research report on Thursday, October 24th. Finally, UBS Group increased their target price on Northern Trust from $86.00 to $92.00 and gave the company a "neutral" rating in a research note on Tuesday, October 8th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $99.33.

Insider Activity

In related news, COO Peter Cherecwich sold 16,153 shares of the business's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $105.18, for a total value of $1,698,972.54. Following the completion of the transaction, the chief operating officer now owns 4,397 shares of the company's stock, valued at $462,476.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Northern Trust news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Peter Cherecwich sold 16,153 shares of Northern Trust stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the completion of the sale, the chief operating officer now owns 4,397 shares of the company's stock, valued at $462,476.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 75,906 shares of company stock worth $7,647,652. 0.64% of the stock is currently owned by company insiders.

Northern Trust Stock Performance

NTRS stock traded up $0.05 during trading hours on Friday, hitting $105.30. 409,510 shares of the stock were exchanged, compared to its average volume of 1,302,260. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a 50-day simple moving average of $93.34 and a two-hundred day simple moving average of $87.79. Northern Trust Co. has a 12 month low of $68.97 and a 12 month high of $108.53. The firm has a market capitalization of $20.87 billion, a P/E ratio of 13.09, a P/E/G ratio of 1.17 and a beta of 1.06.

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 of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.85%. Northern Trust's dividend payout ratio (DPR) is presently 37.31%.

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.