Weiss Asset Management LP Invests $1.10 Million in Northern Trust Co. (NASDAQ:NTRS)

Weiss Asset Management LP bought a new stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 12,206 shares of the asset manager's stock, valued at approximately $1,099,000.

Several other large investors have also recently made changes to their positions in NTRS. Allworth Financial LP increased its holdings in Northern Trust by 9.1% in the 3rd quarter. Allworth Financial LP now owns 1,170 shares of the asset manager's stock worth $105,000 after acquiring an additional 98 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Northern Trust by 14.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the asset manager's stock worth $83,000 after acquiring an additional 117 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Northern Trust by 0.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager's stock worth $3,608,000 after acquiring an additional 120 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in Northern Trust by 0.4% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager's stock worth $3,212,000 after acquiring an additional 127 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Northern Trust by 1.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager's stock worth $889,000 after acquiring an additional 131 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the company's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the transaction, the director now owns 1,000 shares of the company's stock, valued at $88,120. This represents a 64.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Teresa Parker sold 4,439 shares of the company's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $100.86, for a total transaction of $447,717.54. Following the completion of the transaction, the insider now directly owns 79,326 shares in the company, valued at $8,000,820.36. The trade was a 5.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,006 shares of company stock valued at $8,653,352. 0.64% of the stock is currently owned by insiders.

Northern Trust Trading Up 0.6 %

Shares of NTRS stock traded up $0.68 on Monday, hitting $108.60. 1,594,261 shares of the stock traded hands, compared to its average volume of 1,295,274. The firm's 50-day moving average price is $101.95 and its two-hundred day moving average price is $91.68. 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 stock has a market capitalization of $21.53 billion, a PE ratio of 13.51, a PEG ratio of 1.21 and a beta of 1.07. Northern Trust Co. has a twelve month low of $76.67 and a twelve month high of $111.87.

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 given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.76%. Northern Trust's payout ratio is 37.31%.

Wall Street Analysts Forecast Growth

NTRS has been the subject of several recent analyst reports. Morgan Stanley raised shares of Northern Trust from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $103.00 to $127.00 in a report on Monday. Evercore ISI boosted their price target on shares of Northern Trust from $86.00 to $103.00 and gave the stock an "in-line" rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods boosted their price target on shares of Northern Trust from $100.00 to $113.00 and gave the stock a "market perform" rating in a report on Tuesday, December 3rd. Wells Fargo & Company upped their target price on shares of Northern Trust from $108.00 to $110.00 and gave the stock an "equal weight" rating in a report on Friday, November 15th. Finally, UBS Group upped their target price on shares of Northern Trust from $86.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price 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.