Paloma Partners Management Co Purchases 2,079 Shares of Northern Trust Co. (NASDAQ:NTRS)

Paloma Partners Management Co grew its stake in Northern Trust Co. (NASDAQ:NTRS) by 79.3% in the third quarter, HoldingsChannel.com reports. The fund owned 4,700 shares of the asset manager’s stock after acquiring an additional 2,079 shares during the period. Paloma Partners Management Co’s holdings in Northern Trust were worth $423,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NTRS. Innealta Capital LLC bought a new stake in shares of Northern Trust in the 2nd quarter valued at about $26,000. Ridgewood Investments LLC bought a new stake in shares of Northern Trust in the 2nd quarter valued at about $30,000. Northwest Investment Counselors LLC bought a new stake in shares of Northern Trust in the 3rd quarter valued at about $39,000. Capital Performance Advisors LLP bought a new stake in shares of Northern Trust in the 3rd quarter valued at about $48,000. Finally, Eastern Bank bought a new stake in shares of Northern Trust in the 3rd quarter valued at about $51,000. 83.19% of the stock is owned by institutional investors.

Northern Trust Trading Down 0.5 %

Shares of Northern Trust stock opened at $108.77 on Thursday. Northern Trust Co. has a 12-month low of $76.67 and a 12-month high of $111.87. The stock has a market cap of $21.56 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.24 and a beta of 1.07. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $100.82 and its 200-day moving average is $91.11.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Friday, December 6th. Northern Trust’s dividend payout ratio is currently 37.31%.

Analysts Set New Price Targets

NTRS has been the subject of a number of recent analyst reports. Barclays upped their price target on Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Bank of America boosted their price objective 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 boosted their price objective on Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. UBS Group boosted their price objective on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company boosted their price objective on Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $103.00.

Insider Transactions at Northern Trust

In related news, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the sale, the director now owns 1,000 shares in the company, valued at approximately $88,120. This represents a 64.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $529,000.00. Following the completion of the sale, the executive vice president now owns 49,756 shares in the company, valued at approximately $5,264,184.80. This trade represents a 9.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,006 shares of company stock worth $8,653,352 in the last 90 days. Corporate 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.