Dearborn Partners LLC Decreases Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

by · The Markets Daily

Dearborn Partners LLC lessened its stake in shares of Northern Trust Co. (NASDAQ:NTRS – Free Report) by 2.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Olistico Wealth LLC purchased a new position in Northern Trust during the 2nd quarter valued at approximately $25,000. Innealta Capital LLC bought a new stake in shares of Northern Trust in the second quarter valued at about $26,000. Ridgewood Investments LLC bought a new stake in Northern Trust during the 2nd quarter valued at $30,000. Northwest Investment Counselors LLC bought a new stake in shares of Northern Trust in the 3rd quarter valued at about $39,000. Finally, 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 valued at $37,000 after buying an additional 337 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NTRS has been the subject of a number of research reports. StockNews.com raised Northern Trust from a “hold” rating to a “buy” rating in a report on Tuesday. Morgan Stanley raised their price objective on Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Evercore ISI upped their target price 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. Bank of America boosted their target price on shares of Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Barclays upped their target price on Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $100.67.

View Our Latest Report on NTRS

Insider Transactions at Northern Trust

In other news, EVP Thomas A. South sold 5,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $105.80, for a total value of $529,000.00. Following the completion of the sale, the executive vice president now owns 49,756 shares of the company’s stock, valued at approximately $5,264,184.80. The trade was a 9.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles A. Tribbett sold 1,855 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the sale, the director now directly owns 1,000 shares of the company’s stock, valued at $88,120. This represents a 64.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 80,906 shares of company stock valued at $8,176,652 over the last 90 days. 0.64% of the stock is owned by corporate insiders.

Northern Trust Trading Down 0.8 %

NTRS opened at $105.96 on Friday. Northern Trust Co. has a fifty-two week low of $73.85 and a fifty-two week high of $108.53. The company has a market cap of $21.00 billion, a price-to-earnings ratio of 13.18, a price-to-earnings-growth ratio of 1.20 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a 50 day simple moving average of $94.93 and a 200 day simple moving average of $88.57.

Northern Trust Dividend Announcement

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

About Northern Trust

(Free Report)

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.

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