Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Zacks Investment Management

Zacks Investment Management lowered its position in Northern Trust Co. (NASDAQ:NTRS) by 3.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,621 shares of the asset manager’s stock after selling 2,654 shares during the quarter. Zacks Investment Management’s holdings in Northern Trust were worth $7,798,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Allworth Financial LP increased its stake in shares of Northern Trust by 9.1% in 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 period. Massmutual Trust Co. FSB ADV increased its stake in shares of Northern Trust by 14.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the asset manager’s stock valued at $83,000 after purchasing an additional 117 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Northern Trust by 0.3% in 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. increased its stake in shares of 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 valued at $3,212,000 after purchasing an additional 127 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of 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 purchasing an additional 131 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Activity

In other news, Vice Chairman Steven L. Fradkin sold 9,100 shares of Northern Trust stock in a transaction on Friday, November 29th. The stock was sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the transaction, the insider now owns 47,797 shares in the company, valued at approximately $5,305,467. The trade was a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 shares were sold at an average price of $105.80, for a total value of $529,000.00. Following the transaction, the executive vice president now owns 49,756 shares in the company, valued at $5,264,184.80. This represents a 9.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,006 shares of company stock worth $8,653,352 over the last quarter. Corporate insiders own 0.64% of the company’s stock.

Northern Trust Stock Down 1.8 %

NTRS stock opened at $107.92 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $21.39 billion, a P/E ratio of 13.42, a P/E/G ratio of 1.22 and a beta of 1.07. Northern Trust Co. has a 52-week low of $76.67 and a 52-week high of $111.87. The company’s 50 day simple moving average is $101.57 and its 200-day simple moving average is $91.45.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is currently 37.31%.

Analyst Ratings Changes

NTRS has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a report on Monday, November 11th. The Goldman Sachs Group cut shares of Northern Trust from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $84.00 to $82.00 in a report on Thursday, September 26th. Keefe, Bruyette & Woods increased their price objective on shares of Northern Trust from $100.00 to $113.00 and gave the company a “market perform” rating in a report on Tuesday, December 3rd. Morgan Stanley increased their price objective on shares of Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Finally, Evercore ISI increased their price objective on shares of Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $103.00.

Northern Trust Profile

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.