Northern Trust Co. (NASDAQ:NTRS) Shares Acquired by Studio Investment Management LLC

Studio Investment Management LLC increased its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 3.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 7,627 shares of the asset manager’s stock after buying an additional 269 shares during the quarter. Studio Investment Management LLC’s holdings in Northern Trust were worth $692,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Primecap Management Co. CA lifted its position in shares of Northern Trust by 0.5% in the third quarter. Primecap Management Co. CA now owns 7,085,117 shares of the asset manager’s stock valued at $637,873,000 after acquiring an additional 38,360 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new position in Northern Trust in the 3rd quarter valued at about $390,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Northern Trust in the 3rd quarter valued at about $2,071,000. Pathstone Holdings LLC lifted its holdings in Northern Trust by 2.6% in the 3rd quarter. Pathstone Holdings LLC now owns 15,936 shares of the asset manager’s stock valued at $1,437,000 after purchasing an additional 402 shares in the last quarter. Finally, Aviance Capital Partners LLC boosted its stake in shares of Northern Trust by 11.8% during the 3rd quarter. Aviance Capital Partners LLC now owns 11,652 shares of the asset manager’s stock worth $1,049,000 after purchasing an additional 1,226 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of Northern Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Evercore ISI boosted their price target on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. The Goldman Sachs Group cut Northern Trust from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $84.00 to $82.00 in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft upped their target price on Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Bank of America raised their price target on Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $100.67.

Northern Trust Stock Up 1.3 %

NTRS opened at $109.32 on Friday. The company has a market cap of $21.67 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 1.21 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust Co. has a 1 year low of $75.43 and a 1 year high of $109.54. The firm has a 50 day moving average price of $97.34 and a 200 day moving average price of $89.56.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be issued 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 2.74%. Northern Trust’s payout ratio is 37.31%.

Insider Buying and Selling

In other news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $100.50, for a total transaction 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 represents a 37.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the transaction, the director now owns 1,000 shares in the company, valued at $88,120. This trade represents a 64.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 80,906 shares of company stock valued at $8,176,652. Company 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.