Victory Capital Management Inc. Raises Stake in Northern Trust Co. (NASDAQ:NTRS)

Victory Capital Management Inc. lifted its stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 67.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 403,990 shares of the asset manager's stock after buying an additional 162,623 shares during the period. Victory Capital Management Inc. owned about 0.20% of Northern Trust worth $36,371,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of NTRS. Massachusetts Financial Services Co. MA boosted its holdings in Northern Trust by 13.0% during the 2nd 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 boosted its holdings in Northern Trust by 3.9% during the second quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager's stock worth $591,787,000 after purchasing an additional 261,285 shares during the last quarter. Ariel Investments LLC grew its position in Northern Trust by 3.6% in the 2nd quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager's stock worth $222,060,000 after purchasing an additional 91,816 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Northern Trust by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager's stock valued at $168,253,000 after buying an additional 219,387 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Northern Trust by 2.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,680 shares of the asset manager's stock worth $117,713,000 after buying an additional 26,984 shares in the last quarter. Institutional investors own 83.19% of the company's stock.

Analyst Upgrades and Downgrades

NTRS has been the subject of several recent analyst reports. The Goldman Sachs Group lowered Northern Trust from a "neutral" rating to a "sell" rating and reduced their target price for the company from $84.00 to $82.00 in a report on Thursday, September 26th. Barclays upped their price objective on Northern Trust from $98.00 to $115.00 and gave the company an "equal weight" rating in a research note on Thursday, October 24th. Evercore ISI lifted their target price 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. Bank of America increased their price target on shares of Northern Trust from $103.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada lifted their price objective 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. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Northern Trust presently has an average rating of "Hold" and a consensus price target of $100.67.

Northern Trust Stock Performance

Shares of Northern Trust stock traded up $1.64 during trading hours on Friday, reaching $107.60. The company had a trading volume of 1,955,051 shares, compared to its average volume of 1,313,533. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust Co. has a one year low of $73.98 and a one year high of $108.53. The firm has a market cap of $21.33 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.21 and a beta of 1.06. The business has a fifty day simple moving average of $95.68 and a 200 day simple moving average of $88.90.

Northern Trust Announces Dividend

The company also recently declared 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. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust's payout ratio is 37.31%.

Insider Activity

In other Northern Trust news, EVP Thomas A. South sold 5,000 shares of Northern Trust stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $105.80, for a total transaction of $529,000.00. Following the completion of the sale, the executive vice president now directly owns 49,756 shares in the company, valued at $5,264,184.80. The trade was a 9.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 46,078 shares in the company, valued at $4,630,839. The trade was a 37.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,906 shares of company stock worth $8,176,652. 0.64% of the stock is owned by company insiders.

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.