Quarry LP Reduces Position in Northern Trust Co. (NASDAQ:NTRS)

Quarry LP reduced its position in Northern Trust Co. (NASDAQ:NTRS) by 81.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 288 shares of the asset manager’s stock after selling 1,264 shares during the quarter. Quarry LP’s holdings in Northern Trust were worth $26,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Royal London Asset Management Ltd. raised its position in Northern Trust by 4.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 83,214 shares of the asset manager’s stock valued at $7,492,000 after purchasing an additional 3,857 shares in the last quarter. NFJ Investment Group LLC purchased a new stake in Northern Trust in the third quarter worth about $7,682,000. IHT Wealth Management LLC purchased a new stake in Northern Trust in the third quarter worth about $297,000. Investment Management Corp of Ontario increased its position in Northern Trust by 47.9% during the 3rd quarter. Investment Management Corp of Ontario now owns 6,794 shares of the asset manager’s stock valued at $612,000 after purchasing an additional 2,200 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Northern Trust by 1.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 38,755 shares of the asset manager’s stock valued at $3,489,000 after purchasing an additional 590 shares in the last quarter. 83.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NTRS shares. StockNews.com raised shares of Northern Trust from a “hold” rating to a “buy” rating in a report on Tuesday. Morgan Stanley raised Northern Trust from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $103.00 to $127.00 in a research report on Monday. The Goldman Sachs Group lowered Northern Trust from a “neutral” rating to a “sell” rating and cut their target price for the company from $84.00 to $82.00 in a research note on Thursday, September 26th. Keefe, Bruyette & Woods increased their price target on shares of Northern Trust from $100.00 to $113.00 and gave the company a “market perform” rating in a research report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Northern Trust presently has an average rating of “Hold” and a consensus target price of $105.00.

Northern Trust Trading Up 0.2 %

Shares of NASDAQ:NTRS opened at $105.39 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a 52-week low of $76.67 and a 52-week high of $111.87. The stock has a market cap of $20.89 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.21 and a beta of 1.07. The business has a 50-day moving average price of $102.67 and a 200-day moving average price of $91.95.

Northern Trust Dividend Announcement

The firm also recently disclosed 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. This represents a $3.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is currently 37.31%.

Insider Transactions at Northern Trust

In other Northern Trust news, EVP Susan Cohen Levy sold 19,585 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $102.26, for a total value of $2,002,762.10. Following the completion of the transaction, the executive vice president now directly owns 17,132 shares of the company’s stock, valued at approximately $1,751,918.32. The trade was a 53.34 % 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, Vice Chairman Steven L. Fradkin sold 27,874 shares of the firm’s 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 sale, the insider now directly owns 46,078 shares in the company, valued at $4,630,839. The trade was a 37.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,151 shares of company stock worth $8,489,889 over the last 90 days. 0.64% of the stock is currently owned by company insiders.

Northern Trust Company 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.