Toronto Dominion Bank Sells 33,065 Shares of Northern Trust Co. (NASDAQ:NTRS)

Toronto Dominion Bank lowered its stake in Northern Trust Co. (NASDAQ:NTRS) by 32.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,145 shares of the asset manager’s stock after selling 33,065 shares during the quarter. Toronto Dominion Bank’s holdings in Northern Trust were worth $6,135,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Innealta Capital LLC purchased a new stake in Northern Trust in the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC purchased a new stake in shares of Northern Trust in the second quarter worth $30,000. Northwest Investment Counselors LLC bought a new stake in shares of Northern Trust during the 3rd quarter valued at $39,000. Capital Performance Advisors LLP purchased a new position in shares of Northern Trust during the 3rd quarter valued at $48,000. Finally, Eastern Bank bought a new position in Northern Trust in the 3rd quarter worth $51,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Peter Cherecwich sold 16,153 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $105.18, for a total value of $1,698,972.54. Following the completion of the sale, the chief operating officer now owns 4,397 shares in the company, valued at approximately $462,476.46. This trade represents a 78.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Steven L. Fradkin sold 9,100 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the transaction, the insider now owns 47,797 shares in the company, valued at $5,305,467. The trade was a 15.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,151 shares of company stock worth $8,489,889 over the last three months. 0.64% of the stock is owned by insiders.

Northern Trust Trading Down 0.4 %

Shares of NASDAQ NTRS opened at $104.98 on Friday. The stock has a market capitalization of $20.81 billion, a P/E ratio of 13.06, a PEG ratio of 1.18 and a beta of 1.07. Northern Trust Co. has a 1-year low of $76.67 and a 1-year high of $111.87. The business’s 50 day moving average is $103.30 and its two-hundred day moving average is $92.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Northern Trust Dividend Announcement

The business also recently declared 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 is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 2.86%. Northern Trust’s payout ratio is presently 37.31%.

Analyst Ratings Changes

NTRS has been the topic of a number of recent analyst reports. Barclays raised their price target on Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Evercore ISI increased their price objective on shares of Northern Trust from $86.00 to $103.00 and gave the company an “in-line” 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. Deutsche Bank Aktiengesellschaft raised their target price on shares of Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Keefe, Bruyette & Woods lifted their target price on Northern Trust from $100.00 to $113.00 and gave the stock a “market perform” rating in a report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Northern Trust has a consensus rating of “Hold” and an average price target of $105.00.

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.