Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its holdings in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 80.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,680 shares of the asset manager's stock after selling 11,045 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Northern Trust were worth $241,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in NTRS. Acadian Asset Management LLC raised its position in shares of Northern Trust by 4,646.7% in the 1st quarter. Acadian Asset Management LLC now owns 29,097 shares of the asset manager's stock worth $2,585,000 after buying an additional 28,484 shares during the period. O Shaughnessy Asset Management LLC raised its position in shares of Northern Trust by 30.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,146 shares of the asset manager's stock worth $280,000 after buying an additional 743 shares during the period. Bessemer Group Inc. raised its position in shares of Northern Trust by 668.0% in the 1st quarter. Bessemer Group Inc. now owns 20,205 shares of the asset manager's stock worth $1,797,000 after buying an additional 17,574 shares during the period. Shell Asset Management Co. raised its position in shares of Northern Trust by 95.1% in the 1st quarter. Shell Asset Management Co. now owns 8,540 shares of the asset manager's stock worth $759,000 after buying an additional 4,162 shares during the period. Finally, CreativeOne Wealth LLC purchased a new position in shares of Northern Trust in the 1st quarter worth $229,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NTRS. Royal Bank of Canada increased their price target on Northern Trust from $100.00 to $107.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft increased their price target on Northern Trust from $100.00 to $108.00 and gave the company a "hold" rating in a report on Monday, November 11th. StockNews.com upgraded Northern Trust from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. Morgan Stanley increased their price target on Northern Trust from $97.00 to $103.00 and gave the company an "underweight" rating in a report on Thursday, October 24th. Finally, Barclays increased their price target on Northern Trust from $98.00 to $115.00 and gave the company an "equal weight" rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $100.67.

Northern Trust Stock Performance

Shares of NASDAQ NTRS opened at $107.88 on Thursday. 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 price is $96.90 and its two-hundred day moving average price is $89.42. Northern Trust Co. has a 52-week low of $75.26 and a 52-week high of $109.54. The stock has a market capitalization of $21.38 billion, a P/E ratio of 13.42, a P/E/G ratio of 1.21 and a beta of 1.06.

Northern Trust Dividend Announcement

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 issued a $0.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.78%. Northern Trust's dividend payout ratio is currently 37.31%.

Insiders Place Their Bets

In other news, COO Peter Cherecwich sold 16,153 shares of Northern Trust stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the sale, the chief operating officer now owns 4,397 shares of the company's stock, valued at approximately $462,476.46. The trade was a 78.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of Northern Trust 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 sale, the director now directly owns 1,000 shares in the company, valued at approximately $88,120. This trade represents a 64.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 80,906 shares of company stock valued at $8,176,652 over the last quarter. Insiders own 0.64% of the company's stock.

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.