Ontario Teachers Pension Plan Board Buys Shares of 4,336 Northern Trust Co. (NASDAQ:NTRS)

Ontario Teachers Pension Plan Board purchased a new position in Northern Trust Co. (NASDAQ:NTRS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,336 shares of the asset manager’s stock, valued at approximately $390,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Olistico Wealth LLC purchased a new stake in Northern Trust in the second quarter worth $25,000. Innealta Capital LLC bought a new position in shares of Northern Trust in the second quarter worth about $26,000. Ridgewood Investments LLC purchased a new position in Northern Trust in the 2nd quarter worth about $30,000. Northwest Investment Counselors LLC bought a new stake in Northern Trust during the 3rd quarter valued at about $39,000. Finally, Versant Capital Management Inc boosted its position in Northern Trust by 343.9% in the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after buying an additional 337 shares during the period. 83.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on NTRS. 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 note on Thursday, October 24th. Wells Fargo & Company upped their target price on Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. Bank of America raised their price target on Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. 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 investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $100.67.

Northern Trust Trading Up 0.5 %

NASDAQ NTRS opened at $109.46 on Friday. The firm has a market cap of $21.70 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 1.21 and a beta of 1.06. Northern Trust Co. has a 52 week low of $75.55 and a 52 week high of $109.92. 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 company has a 50 day moving average price of $97.76 and a 200 day moving average price of $89.73.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders 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 annualized dividend and a dividend yield of 2.74%. Northern Trust’s dividend payout ratio is presently 37.31%.

Insider Transactions at Northern Trust

In related news, EVP Susan Cohen Levy sold 19,585 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $102.26, for a total value of $2,002,762.10. Following the completion of the transaction, the executive vice president now directly owns 17,132 shares of the company’s stock, valued at $1,751,918.32. This trade represents a 53.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $4,630,839. This represents a 37.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 80,906 shares of company stock valued at $8,176,652 in the last quarter. 0.64% of the stock is currently owned by corporate 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.