Associated Banc Corp Sells 357 Shares of Northern Trust Co. (NASDAQ:NTRS)

Associated Banc Corp cut its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 1.5% during the 3rd quarter, Holdings Channel reports. The fund owned 24,034 shares of the asset manager’s stock after selling 357 shares during the period. Associated Banc Corp’s holdings in Northern Trust were worth $2,164,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Swedbank AB acquired a new stake in shares of Northern Trust in the 1st quarter valued at about $1,407,000. Tidal Investments LLC increased its holdings in shares of Northern Trust by 141.3% during the first quarter. Tidal Investments LLC now owns 13,771 shares of the asset manager’s stock valued at $1,224,000 after acquiring an additional 8,063 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Northern Trust in the 1st quarter worth $2,761,000. M&G Plc acquired a new stake in Northern Trust in the 2nd quarter valued at $971,000. Finally, Williams Financial LLC acquired a new position in Northern Trust during the second quarter worth $1,322,000. 83.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wells Fargo & Company lifted their price target on Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. UBS Group increased their price target on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Morgan Stanley upped their target price on shares of Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Bank of America raised their price target on shares of Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, StockNews.com raised shares of Northern Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $100.67.

Northern Trust Trading Up 1.0 %

Shares of NTRS stock opened at $110.53 on Tuesday. The stock has a market capitalization of $21.91 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.23 and a beta of 1.06. The company’s fifty day simple moving average is $98.18 and its two-hundred day simple moving average is $89.96. Northern Trust Co. has a 1 year low of $75.68 and a 1 year high of $110.99. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.71%. Northern Trust’s dividend payout ratio (DPR) is 37.31%.

Insiders Place Their Bets

In other news, Director Charles A. Tribbett sold 1,855 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $88,120. This represents a 64.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 46,078 shares in the company, valued at approximately $4,630,839. The trade was a 37.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,906 shares of company stock worth $7,643,252 in the last quarter. 0.64% of the stock is owned by company insiders.

About Northern Trust

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.