Neo Ivy Capital Management Reduces Position in Northern Trust Co. (NASDAQ:NTRS)

Neo Ivy Capital Management lessened its stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 62.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,674 shares of the asset manager's stock after selling 20,670 shares during the quarter. Neo Ivy Capital Management's holdings in Northern Trust were worth $1,142,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Coldstream Capital Management Inc. increased its position in Northern Trust by 22.9% during the third quarter. Coldstream Capital Management Inc. now owns 6,212 shares of the asset manager's stock worth $571,000 after buying an additional 1,157 shares during the period. LRI Investments LLC purchased a new position in shares of Northern Trust during the third quarter worth approximately $180,000. Harvest Investment Advisors LLC increased its holdings in shares of Northern Trust by 2.9% in the 3rd quarter. Harvest Investment Advisors LLC now owns 16,986 shares of the asset manager's stock valued at $1,529,000 after acquiring an additional 475 shares during the period. Public Employees Retirement System of Ohio raised its position in Northern Trust by 1.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 78,137 shares of the asset manager's stock valued at $7,035,000 after purchasing an additional 1,015 shares during the last quarter. Finally, Groupama Asset Managment boosted its stake in Northern Trust by 113.6% during the 3rd quarter. Groupama Asset Managment now owns 7,186 shares of the asset manager's stock worth $647,000 after purchasing an additional 3,822 shares during the period. Institutional investors and hedge funds own 83.19% of the company's stock.

Insider Transactions at Northern Trust

In other news, EVP Thomas A. South sold 5,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $105.80, for a total value of $529,000.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the business's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $100.50, for a total value of $2,801,337.00. Following 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 worth $8,653,352 in the last three months. 0.64% of the stock is currently owned by company insiders.

Northern Trust Trading Up 0.2 %

Shares of NTRS stock traded up $0.24 on Thursday, reaching $105.39. 1,567,341 shares of the stock were exchanged, compared to its average volume of 1,300,454. 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 stock has a market cap of $20.89 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. The firm has a 50 day moving average of $102.67 and a two-hundred day moving average of $91.95. Northern Trust Co. has a 1-year low of $76.67 and a 1-year high of $111.87.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be issued a $0.75 dividend. 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 2.85%. Northern Trust's dividend payout ratio (DPR) is 37.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Evercore ISI upped their target price on shares of Northern Trust from $86.00 to $103.00 and gave the company an "in-line" rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their price objective on Northern Trust from $100.00 to $108.00 and gave the company a "hold" rating in a research note on Monday, November 11th. The Goldman Sachs Group downgraded Northern Trust from a "neutral" rating to a "sell" rating and lowered their target price for the company from $84.00 to $82.00 in a research note on Thursday, September 26th. Keefe, Bruyette & Woods upped their price target on Northern Trust from $100.00 to $113.00 and gave the stock a "market perform" rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada lifted their price objective on shares of Northern Trust from $100.00 to $107.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Northern Trust has a consensus rating of "Hold" and a consensus price target of $105.00.

Northern Trust Company 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.