Northern Trust Co. (NASDAQ:NTRS) Position Cut by Callahan Advisors LLC

Callahan Advisors LLC trimmed its position in Northern Trust Co. (NASDAQ:NTRS) by 8.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,452 shares of the asset manager’s stock after selling 1,626 shares during the period. Callahan Advisors LLC’s holdings in Northern Trust were worth $1,661,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Olistico Wealth LLC acquired a new stake in shares of Northern Trust during the 2nd quarter valued at $25,000. Innealta Capital LLC purchased a new stake in shares of Northern Trust during the second quarter worth $26,000. Ridgewood Investments LLC bought a new position in Northern Trust during the second quarter valued at about $30,000. Versant Capital Management Inc raised its holdings in Northern Trust by 343.9% during the second 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. Finally, Northwest Investment Counselors LLC bought a new position in Northern Trust during the third quarter valued at about $39,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Royal Bank of Canada raised their target price on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised their target price on Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a report on Monday, September 23rd. UBS Group lifted their price objective on Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Morgan Stanley lifted their price objective on Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group lowered Northern Trust from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $84.00 to $82.00 in a research note on Thursday, September 26th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $99.33.

Northern Trust Stock Up 1.1 %

NTRS stock opened at $101.35 on Wednesday. Northern Trust Co. has a twelve month low of $68.97 and a twelve month high of $104.25. The company has a market cap of $20.09 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 1.17 and a beta of 1.06. The business’s 50-day simple moving average is $92.98 and its 200 day simple moving average is $87.65. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is presently 37.31%.

Insider Buying and Selling

In other Northern Trust news, insider Teresa Parker sold 4,439 shares of Northern Trust stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $100.86, for a total transaction of $447,717.54. Following the sale, the insider now directly owns 79,326 shares of the company’s stock, valued at approximately $8,000,820.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Northern Trust news, insider Teresa Parker sold 4,439 shares of Northern Trust stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $100.86, for a total transaction of $447,717.54. Following the sale, the insider now directly owns 79,326 shares of the company’s stock, valued at approximately $8,000,820.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of Northern Trust stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $100.50, for a total value 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,636 shares of company stock valued at $6,443,204 over the last three months. 0.64% of the stock is owned by corporate 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.