CHICAGO TRUST Co NA Cuts Stake in Northern Trust Co. (NASDAQ:NTRS)

CHICAGO TRUST Co NA lessened its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,131 shares of the asset manager’s stock after selling 260 shares during the period. CHICAGO TRUST Co NA’s holdings in Northern Trust were worth $218,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP raised its stake in Northern Trust by 9.1% in the third quarter. Allworth Financial LP now owns 1,170 shares of the asset manager’s stock valued at $105,000 after buying an additional 98 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Northern Trust by 14.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the asset manager’s stock valued at $83,000 after acquiring an additional 117 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Northern Trust by 0.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager’s stock valued at $3,608,000 after purchasing an additional 120 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its stake in Northern Trust by 0.4% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager’s stock worth $3,212,000 after purchasing an additional 127 shares in the last quarter. Finally, Empirical Finance LLC grew its position in Northern Trust by 2.2% during the 3rd quarter. Empirical Finance LLC now owns 7,164 shares of the asset manager’s stock worth $645,000 after purchasing an additional 152 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Activity

In related news, Vice Chairman Steven L. Fradkin sold 9,100 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $111.00, for a total value of $1,010,100.00. Following the completion of the sale, the insider now owns 47,797 shares of the company’s stock, valued at approximately $5,305,467. The trade was a 15.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas A. South sold 5,000 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $105.80, for a total transaction of $529,000.00. Following the transaction, the executive vice president now directly owns 49,756 shares in the company, valued at approximately $5,264,184.80. The trade was a 9.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,151 shares of company stock worth $8,489,889 in the last ninety days. Company insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

NTRS has been the subject of several research reports. Evercore ISI lifted their price objective on shares of Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods boosted their price target on Northern Trust from $100.00 to $113.00 and gave the company a “market perform” rating in a research note on Tuesday, December 3rd. Bank of America raised their price objective on Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Royal Bank of Canada upped their target price on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, UBS Group raised their price target 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $107.17.

Northern Trust Stock Performance

Shares of NASDAQ NTRS opened at $100.32 on Tuesday. The company has a market capitalization of $19.89 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The company’s fifty day moving average price is $105.67 and its 200 day moving average price is $95.30. Northern Trust Co. has a 1 year low of $76.67 and a 1 year high of $111.87.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend was Friday, December 6th. Northern Trust’s payout ratio is currently 37.31%.

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.