Dearborn Partners LLC Has $1.11 Million Holdings in Northern Trust Co. (NASDAQ:NTRS)

Dearborn Partners LLC reduced its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 2.4% in the 3rd quarter, Holdings Channel reports. The firm owned 12,374 shares of the asset manager’s stock after selling 310 shares during the quarter. Dearborn Partners LLC’s holdings in Northern Trust were worth $1,114,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co lifted its stake in Northern Trust by 6.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 360,640 shares of the asset manager’s stock valued at $32,111,000 after buying an additional 23,020 shares during the period. Bessemer Group Inc. grew its stake in shares of Northern Trust by 668.0% in the 1st quarter. Bessemer Group Inc. now owns 20,205 shares of the asset manager’s stock valued at $1,797,000 after buying an additional 17,574 shares during the period. Intech Investment Management LLC increased its position in Northern Trust by 1,891.1% in the 1st quarter. Intech Investment Management LLC now owns 56,845 shares of the asset manager’s stock valued at $5,055,000 after buying an additional 53,990 shares in the last quarter. Swedbank AB bought a new position in Northern Trust in the first quarter worth approximately $1,407,000. Finally, Tidal Investments LLC increased its holdings in shares of Northern Trust by 141.3% during the first quarter. Tidal Investments LLC now owns 13,771 shares of the asset manager’s stock valued at $1,224,000 after acquiring an additional 8,063 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on NTRS shares. 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 report on Thursday, October 24th. Bank of America upped their price target on Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Morgan Stanley raised their price target on Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. 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 research report on Tuesday, October 8th. Finally, StockNews.com upgraded shares of Northern Trust from a “hold” rating to a “buy” rating in a report on Tuesday. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $100.67.

Northern Trust Stock Performance

NTRS opened at $105.96 on Friday. The firm has a 50 day moving average of $94.93 and a two-hundred day moving average of $88.57. The firm has a market capitalization of $21.00 billion, a PE ratio of 13.18, a P/E/G ratio of 1.20 and a beta of 1.06. Northern Trust Co. has a 12-month low of $73.85 and a 12-month high of $108.53. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s payout ratio is 37.31%.

Insider Buying and Selling

In related news, Vice Chairman Steven L. Fradkin sold 27,874 shares of Northern Trust stock in a transaction on Friday, October 25th. The stock was sold at an average price of $100.50, for a total value of $2,801,337.00. Following the completion of the transaction, the insider now directly owns 46,078 shares in the company, valued at approximately $4,630,839. This trade represents a 37.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. This represents a 17.29 % decrease in their ownership of the stock. 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. Insiders own 0.64% of the company’s stock.

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.