Private Advisor Group LLC Sells 1,311 Shares of Northern Trust Co. (NASDAQ:NTRS)

Private Advisor Group LLC lowered its stake in Northern Trust Co. (NASDAQ:NTRS) by 8.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,013 shares of the asset manager’s stock after selling 1,311 shares during the quarter. Private Advisor Group LLC’s holdings in Northern Trust were worth $1,262,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake in shares of Northern Trust by 13.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock valued at $622,596,000 after purchasing an additional 850,556 shares during the period. Panagora Asset Management Inc. grew its holdings in Northern Trust by 4,660.5% during the second quarter. Panagora Asset Management Inc. now owns 399,932 shares of the asset manager’s stock worth $33,586,000 after purchasing an additional 391,531 shares during the period. Primecap Management Co. CA grew its holdings in Northern Trust by 3.9% during the second quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock worth $591,787,000 after purchasing an additional 261,285 shares during the period. Dimensional Fund Advisors LP grew its holdings in Northern Trust by 12.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock worth $168,253,000 after purchasing an additional 219,387 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Northern Trust by 55.1% during the second quarter. AQR Capital Management LLC now owns 597,146 shares of the asset manager’s stock worth $49,575,000 after purchasing an additional 212,089 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NTRS. Bank of America boosted their price objective on Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Wells Fargo & Company boosted their price objective on Northern Trust from $92.00 to $108.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Barclays lifted their price target on shares of Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Finally, UBS Group lifted their price target on shares of Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $99.33.

Insider Activity at Northern Trust

In other news, EVP Teresa Parker sold 5,883 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the transaction, the executive vice president now owns 83,765 shares in the company, valued at approximately $7,041,285.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction on 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 transaction, the director now owns 1,000 shares in the company, valued at $88,120. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Teresa Parker sold 5,883 shares of Northern Trust stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction of $494,524.98. Following the sale, the executive vice president now owns 83,765 shares of the company’s stock, valued at $7,041,285.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,636 shares of company stock worth $6,443,204 over the last 90 days. 0.64% of the stock is owned by company insiders.

Northern Trust Stock Performance

NASDAQ NTRS opened at $100.52 on Friday. Northern Trust Co. has a 52-week low of $64.96 and a 52-week high of $104.25. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $20.27 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.45 and a beta of 1.08. The company has a fifty day moving average of $92.28 and a 200-day moving average of $87.17.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s payout ratio is 37.31%.

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.