Wedge Capital Management L L P NC Invests $2.07 Million in Northern Trust Co. (NASDAQ:NTRS)

Wedge Capital Management L L P NC purchased a new stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 20,218 shares of the asset manager's stock, valued at approximately $2,072,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of NTRS. FMR LLC raised its position in shares of Northern Trust by 9.3% in the 3rd quarter. FMR LLC now owns 18,187,663 shares of the asset manager's stock valued at $1,637,435,000 after purchasing an additional 1,542,685 shares during the last quarter. Primecap Management Co. CA increased its stake in Northern Trust by 0.5% during 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. JPMorgan Chase & Co. raised its holdings in shares of Northern Trust by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock worth $386,809,000 after buying an additional 388,692 shares during the last quarter. Ariel Investments LLC lifted its stake 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Northern Trust by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,577,091 shares of the asset manager's stock valued at $141,986,000 after buying an additional 16,500 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 equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised their target price on Northern Trust from $100.00 to $108.00 and gave the stock a "hold" rating in a research note on Monday, November 11th. Royal Bank of Canada raised their price objective on Northern Trust from $100.00 to $107.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. The Goldman Sachs Group lowered Northern Trust from a "neutral" rating to a "sell" rating and dropped their target price for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. Keefe, Bruyette & Woods raised their price target on shares of Northern Trust from $100.00 to $113.00 and gave the stock a "market perform" rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company upped their price objective on shares of Northern Trust from $108.00 to $110.00 and gave the company an "equal weight" rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $107.17.

Insider Activity at Northern Trust

In other Northern Trust news, EVP Thomas A. South sold 5,000 shares of Northern Trust stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $105.80, for a total value of $529,000.00. Following the sale, the executive vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Susan Cohen Levy sold 19,585 shares of the company's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $102.26, for a total transaction of $2,002,762.10. Following the completion of the transaction, the executive vice president now directly owns 17,132 shares in the company, valued at $1,751,918.32. The trade was a 53.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,151 shares of company stock valued at $8,489,889. 0.64% of the stock is currently owned by insiders.

Northern Trust Price Performance

Shares of NTRS traded up $0.38 during trading hours on Monday, hitting $106.87. 913,629 shares of the stock were exchanged, compared to its average volume of 1,000,725. The stock's 50-day moving average price is $105.73 and its two-hundred day moving average price is $95.89. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market cap of $21.18 billion, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 1.06 and a beta of 1.08. Northern Trust Co. has a 12-month low of $76.67 and a 12-month high of $111.87.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th were given a $0.75 dividend. The ex-dividend date was Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.81%. Northern Trust's dividend payout ratio (DPR) is presently 37.31%.

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.