International Assets Investment Management LLC Cuts Stock Position in Northern Trust Co. (NASDAQ:NTRS)

International Assets Investment Management LLC trimmed its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 89.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,007 shares of the asset manager’s stock after selling 115,161 shares during the quarter. International Assets Investment Management LLC’s holdings in Northern Trust were worth $1,182,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NTRS. Fortitude Family Office LLC acquired a new position in Northern Trust during the fourth quarter worth $28,000. Quent Capital LLC raised its position in shares of Northern Trust by 77.8% during the 4th quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after purchasing an additional 158 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in Northern Trust by 306.3% in the 3rd quarter. Hexagon Capital Partners LLC now owns 581 shares of the asset manager’s stock valued at $40,000 after buying an additional 438 shares in the last quarter. Covestor Ltd boosted its holdings in Northern Trust by 147.5% in the 3rd quarter. Covestor Ltd now owns 604 shares of the asset manager’s stock worth $42,000 after buying an additional 360 shares during the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new stake in Northern Trust during the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Up 2.6 %

Shares of NASDAQ NTRS opened at $83.54 on Tuesday. The company has a market capitalization of $17.04 billion, a P/E ratio of 18.44, a P/E/G ratio of 1.17 and a beta of 1.13. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71. The company has a 50 day simple moving average of $83.31 and a 200-day simple moving average of $79.22. Northern Trust Co. has a 1 year low of $62.44 and a 1 year high of $89.25.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.00 annualized dividend and a yield of 3.59%. Northern Trust’s dividend payout ratio (DPR) is 66.23%.

Analysts Set New Price Targets

NTRS has been the topic of several research reports. Morgan Stanley restated an “underweight” rating and issued a $86.00 target price (up previously from $82.00) on shares of Northern Trust in a research report on Tuesday, January 30th. Jefferies Financial Group upped their target price on shares of Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. TheStreet upgraded shares of Northern Trust from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Barclays boosted their price target on shares of Northern Trust from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Bank of America increased their price objective on shares of Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $84.92.

Insider Buying and Selling at Northern Trust

In other news, insider Steven L. Fradkin sold 30,392 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total transaction of $2,434,703.12. Following the completion of the transaction, the insider now directly owns 55,707 shares in the company, valued at approximately $4,462,687.77. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.64% of the company’s stock.

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.