Pitcairn Co. Grows Holdings in Northern Trust Co. (NASDAQ:NTRS)

Pitcairn Co. grew its position in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 122.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,951 shares of the asset manager's stock after acquiring an additional 8,780 shares during the period. Pitcairn Co.'s holdings in Northern Trust were worth $1,436,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA boosted its stake in shares of Northern Trust by 13.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager's stock worth $622,596,000 after acquiring an additional 850,556 shares during the last quarter. Primecap Management Co. CA lifted its holdings in Northern Trust by 0.5% in the 3rd quarter. Primecap Management Co. CA now owns 7,085,117 shares of the asset manager's stock valued at $637,873,000 after purchasing an additional 38,360 shares in the last quarter. Ariel Investments LLC grew its holdings in shares of Northern Trust by 3.6% during the second quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager's stock worth $222,060,000 after buying an additional 91,816 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Northern Trust by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager's stock worth $168,253,000 after buying an additional 219,387 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Northern Trust by 2.0% during the second quarter. Thrivent Financial for Lutherans now owns 1,401,680 shares of the asset manager's stock worth $117,713,000 after acquiring an additional 26,984 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NTRS. Bank of America lifted their price objective on Northern Trust from $103.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Evercore ISI boosted their price target on shares of Northern Trust from $86.00 to $103.00 and gave the company an "in-line" rating in a research report on Thursday, October 24th. Morgan Stanley raised their price objective on shares of Northern Trust from $97.00 to $103.00 and gave the stock an "underweight" rating in a research report on Thursday, October 24th. Wells Fargo & Company increased their price target on shares of Northern Trust from $108.00 to $110.00 and gave the company an "equal weight" rating in a research note on Friday, November 15th. Finally, StockNews.com raised shares of Northern Trust from a "hold" rating to a "buy" rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $100.67.

Insider Activity

In other Northern Trust news, EVP Thomas A. South sold 5,000 shares of the firm's stock in a transaction dated 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 directly owns 49,756 shares of the company's stock, valued at $5,264,184.80. This trade represents a 9.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles A. Tribbett sold 1,855 shares of the business's stock in a transaction 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 completion of the transaction, the director now owns 1,000 shares of the company's stock, valued at $88,120. This trade represents a 64.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 80,906 shares of company stock valued at $8,176,652 in the last ninety days. 0.64% of the stock is currently owned by company insiders.

Northern Trust Stock Up 0.5 %

Shares of NASDAQ:NTRS traded up $0.52 during trading on Friday, hitting $109.46. 928,391 shares of the company were exchanged, compared to its average volume of 1,149,642. 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 firm's 50 day moving average price is $97.76 and its 200-day moving average price is $89.76. The stock has a market capitalization of $21.70 billion, a P/E ratio of 13.61, a PEG ratio of 1.23 and a beta of 1.06. Northern Trust Co. has a 12-month low of $75.55 and a 12-month high of $109.92.

Northern Trust Announces Dividend

The company 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 $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust's dividend payout ratio is currently 37.31%.

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.