Confluence Investment Management LLC Lowers Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Confluence Investment Management LLC cut its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,149,397 shares of the asset manager’s stock after selling 8,197 shares during the quarter. Northern Trust comprises approximately 1.4% of Confluence Investment Management LLC’s portfolio, making the stock its 24th biggest holding. Confluence Investment Management LLC owned approximately 0.57% of Northern Trust worth $103,480,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Olistico Wealth LLC acquired a new position in Northern Trust in the second quarter valued at $25,000. Innealta Capital LLC acquired a new position in shares of Northern Trust in the 2nd quarter valued at about $26,000. Ridgewood Investments LLC purchased a new stake in shares of Northern Trust during the 2nd quarter worth about $30,000. Versant Capital Management Inc increased its position in Northern Trust by 343.9% during the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock worth $37,000 after purchasing an additional 337 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in Northern Trust during the 3rd quarter worth approximately $39,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NTRS has been the topic of a number of recent research reports. UBS Group lifted their price target on shares of Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price objective on Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Evercore ISI upped their target price on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Bank of America raised their target price on Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Barclays upped their price target on Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $99.33.

Insider Transactions at Northern Trust

In related news, EVP Mark C. Gossett sold 6,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the sale, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at $2,552,052.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Northern Trust news, EVP Mark C. Gossett sold 6,000 shares of Northern Trust stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the transaction, the executive vice president now owns 28,707 shares of the company’s stock, valued at $2,552,052.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the sale, the director now directly owns 1,000 shares in the company, valued at $88,120. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,906 shares of company stock valued at $7,647,652. Insiders own 0.64% of the company’s stock.

Northern Trust Stock Down 1.2 %

Shares of NASDAQ:NTRS opened at $105.25 on Friday. The firm has a market cap of $20.86 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 1.17 and a beta of 1.06. The company has a fifty day simple moving average of $93.34 and a 200 day simple moving average of $87.79. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a 12-month low of $68.97 and a 12-month high of $108.53.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, December 6th. Northern Trust’s 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.