Oppenheimer Asset Management Inc. Has $241,000 Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Oppenheimer Asset Management Inc. trimmed its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 80.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,680 shares of the asset manager’s stock after selling 11,045 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Northern Trust were worth $241,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Allworth Financial LP grew its stake in shares of Northern Trust by 9.1% during the third quarter. Allworth Financial LP now owns 1,170 shares of the asset manager’s stock valued at $105,000 after purchasing an additional 98 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in Northern Trust by 14.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the asset manager’s stock worth $83,000 after buying an additional 117 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Northern Trust by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager’s stock valued at $3,608,000 after purchasing an additional 120 shares during the period. Mesirow Financial Investment Management Inc. grew its holdings in shares of Northern Trust by 0.4% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager’s stock valued at $3,212,000 after buying an additional 127 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in Northern Trust by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager’s stock valued at $889,000 after acquiring an additional 131 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 sale, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $88,120. This represents a 64.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas A. South sold 5,000 shares of Northern Trust stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $105.80, for a total transaction of $529,000.00. Following the transaction, the executive vice president now directly owns 49,756 shares of the company’s stock, valued at $5,264,184.80. This represents a 9.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,906 shares of company stock valued at $8,176,652. 0.64% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NTRS shares. StockNews.com upgraded shares of Northern Trust from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. UBS Group upped their target price on Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Royal Bank of Canada upped their price objective on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company increased their price objective on shares of 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 investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $100.67.

Northern Trust Stock Performance

Northern Trust stock opened at $107.88 on Thursday. 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 stock has a market cap of $21.38 billion, a PE ratio of 13.42, a P/E/G ratio of 1.21 and a beta of 1.06. Northern Trust Co. has a 12-month low of $75.26 and a 12-month high of $109.54. The business’s 50-day moving average price is $96.90 and its two-hundred day moving average price is $89.42.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.78%. 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.