Brooklyn Investment Group Buys 128 Shares of Northern Trust Co. (NASDAQ:NTRS)

Brooklyn Investment Group boosted its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 51.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 378 shares of the asset manager’s stock after purchasing an additional 128 shares during the period. Brooklyn Investment Group’s holdings in Northern Trust were worth $39,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP raised 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 acquiring an additional 98 shares in the last quarter. Pallas Capital Advisors LLC raised its position in Northern Trust by 1.8% during the 4th quarter. Pallas Capital Advisors LLC now owns 6,091 shares of the asset manager’s stock valued at $624,000 after purchasing an additional 107 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Northern Trust by 14.5% in the 3rd 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 period. Mesirow Financial Investment Management Inc. grew its position in shares of Northern Trust by 0.4% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager’s stock worth $3,212,000 after buying an additional 127 shares in the last quarter. Finally, Cooper Financial Group increased its stake in shares of Northern Trust by 5.9% during the fourth quarter. Cooper Financial Group now owns 2,478 shares of the asset manager’s stock valued at $254,000 after buying an additional 139 shares during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on NTRS shares. Royal Bank of Canada increased their target price on shares of Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Evercore ISI lifted 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. The Goldman Sachs Group lowered Northern Trust from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $84.00 to $82.00 in a report on Thursday, September 26th. Morgan Stanley cut their price target on Northern Trust from $127.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday, January 3rd. Finally, Wells Fargo & Company upped their price objective on Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $107.17.

Northern Trust Trading Up 0.4 %

Shares of Northern Trust stock opened at $106.87 on Monday. The firm’s 50 day simple moving average is $105.73 and its two-hundred day simple moving average is $95.81. The firm has a market capitalization of $21.18 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.06 and a beta of 1.08. Northern Trust Co. has a 12-month low of $76.67 and a 12-month high of $111.87. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 6th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.81%. Northern Trust’s dividend payout ratio (DPR) is 37.31%.

Insiders Place Their Bets

In related news, COO Peter Cherecwich sold 16,153 shares of Northern Trust stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the completion of the sale, the chief operating officer now owns 4,397 shares of the company’s stock, valued at $462,476.46. The trade was a 78.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Steven L. Fradkin sold 9,100 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 47,797 shares in the company, valued at approximately $5,305,467. This trade represents a 15.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,151 shares of company stock valued at $8,489,889. 0.64% of the stock is owned by company 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.