Northern Trust Co. (NASDAQ:NTRS) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC lifted its position in Northern Trust Co. (NASDAQ:NTRS) by 7.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,094 shares of the asset manager’s stock after acquiring an additional 293 shares during the quarter. Empowered Funds LLC’s holdings in Northern Trust were worth $369,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

NTRS has been the topic of several recent research reports. Bank of America raised their price target on Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. 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 research note on Thursday, October 24th. Barclays upped their price target on shares of Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. The Goldman Sachs Group downgraded shares of Northern Trust from a “neutral” rating to a “sell” rating and cut their price objective for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. Finally, StockNews.com upgraded shares of Northern Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Three 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. According to data from MarketBeat, Northern Trust currently has a consensus rating of “Hold” and an average price target of $100.67.

Insider Buying and Selling at Northern Trust

In other news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $4,630,839. The trade was a 37.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 74,906 shares of company stock valued at $7,643,252. 0.64% of the stock is owned by insiders.

Northern Trust Stock Performance

Shares of NASDAQ NTRS opened at $110.53 on Tuesday. 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 quick ratio of 0.71 and a current ratio of 0.71. The stock has a fifty day moving average price of $98.18 and a two-hundred day moving average price of $89.96. The firm has a market cap of $21.91 billion, a P/E ratio of 13.75, a PEG ratio of 1.23 and a beta of 1.06.

Northern Trust Dividend Announcement

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 issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s payout ratio is currently 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.