Amalgamated Bank Sells 17,592 Shares of Northern Trust Co. (NASDAQ:NTRS)

Amalgamated Bank lessened its holdings in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 30.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 39,599 shares of the asset manager's stock after selling 17,592 shares during the quarter. Amalgamated Bank's holdings in Northern Trust were worth $3,565,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Olistico Wealth LLC acquired a new position in Northern Trust in the second quarter valued at about $25,000. Innealta Capital LLC acquired a new stake in shares of Northern Trust in the 2nd quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new position in Northern Trust during the 2nd quarter worth approximately $30,000. Northwest Investment Counselors LLC acquired a new position in Northern Trust during the third quarter valued at approximately $39,000. Finally, Versant Capital Management Inc increased its stake in Northern Trust by 343.9% in the second quarter. Versant Capital Management Inc now owns 435 shares of the asset manager's stock valued at $37,000 after purchasing an additional 337 shares in the last quarter. 83.19% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Thomas A. South sold 5,000 shares of Northern Trust stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $105.80, for a total value of $529,000.00. Following the completion of the transaction, the executive vice president now owns 49,756 shares of the company's stock, valued at $5,264,184.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Thomas A. South sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $105.80, for a total transaction of $529,000.00. Following the transaction, the executive vice president now directly owns 49,756 shares of the company's stock, valued at approximately $5,264,184.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark C. Gossett sold 6,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the sale, the executive vice president now owns 28,707 shares in the company, valued at approximately $2,552,052.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,906 shares of company stock valued at $8,176,652. 0.64% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Northern Trust from $97.00 to $103.00 and gave the company an "underweight" rating in a report on Thursday, October 24th. Bank of America boosted their target price on Northern Trust from $103.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Barclays raised their price target on Northern Trust from $98.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 24th. Wells Fargo & Company increased their price objective on shares of Northern Trust from $92.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada increased their price objective on Northern Trust from $100.00 to $107.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $99.33.

Northern Trust Stock Down 0.1 %

NTRS stock traded down $0.07 during mid-day trading on Friday, reaching $105.18. The company had a trading volume of 791,014 shares, compared to its average volume of 1,333,033. Northern Trust Co. has a 52 week low of $68.97 and a 52 week high of $108.53. The company has a market capitalization of $20.85 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.22 and a beta of 1.06. 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 stock has a 50 day simple moving average of $93.94 and a two-hundred day simple moving average of $88.09.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be issued 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 2.85%. Northern Trust's 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.