Fiducient Advisors LLC Makes New $6.29 Million Investment in Northern Trust Co. (NASDAQ:NTRS)

Fiducient Advisors LLC bought a new position in shares of Northern Trust Co. (NASDAQ:NTRS) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 69,308 shares of the asset manager’s stock, valued at approximately $6,292,000. Northern Trust makes up about 0.7% of Fiducient Advisors LLC’s investment portfolio, making the stock its 24th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its position in Northern Trust by 2.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,861 shares of the asset manager’s stock worth $1,144,000 after purchasing an additional 302 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Northern Trust by 0.8% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 490,487 shares of the asset manager’s stock valued at $43,614,000 after buying an additional 3,861 shares in the last quarter. First Trust Direct Indexing L.P. lifted its stake in Northern Trust by 4.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 4,257 shares of the asset manager’s stock valued at $379,000 after buying an additional 182 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Northern Trust by 557.8% during the first quarter. Sequoia Financial Advisors LLC now owns 30,813 shares of the asset manager’s stock worth $2,740,000 after purchasing an additional 26,129 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Northern Trust by 11.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,574 shares of the asset manager’s stock worth $5,886,000 after purchasing an additional 6,978 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

NTRS has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft raised 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 raised their price objective on Northern Trust from $92.00 to $108.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Morgan Stanley raised their price objective on Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Evercore ISI raised their price objective on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada raised their price objective on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $99.33.

Northern Trust Price Performance

NASDAQ NTRS opened at $101.46 on Thursday. The stock has a market capitalization of $20.46 billion, a P/E ratio of 12.62, a P/E/G ratio of 1.45 and a beta of 1.08. Northern Trust Co. has a 1 year low of $64.96 and a 1 year high of $104.25. The business’s fifty day moving average is $92.01 and its two-hundred day moving average is $87.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust Dividend Announcement

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 dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.96%. The ex-dividend date is Friday, December 6th. Northern Trust’s payout ratio is 37.31%.

Insiders Place Their Bets

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 shares were sold at an average price of $100.50, for a total transaction of $2,801,337.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the business’s 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 of the company’s stock, valued at $88,120. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the insider now directly owns 46,078 shares of the company’s stock, valued at approximately $4,630,839. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,636 shares of company stock worth $6,443,204. Corporate insiders own 0.64% of the company’s stock.

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.