Fiduciary Trust Co Sells 190 Shares of Northern Trust Co. (NASDAQ:NTRS)

Fiduciary Trust Co cut its stake in Northern Trust Co. (NASDAQ:NTRS) by 1.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,774 shares of the asset manager’s stock after selling 190 shares during the quarter. Fiduciary Trust Co’s holdings in Northern Trust were worth $970,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Olistico Wealth LLC bought a new stake in Northern Trust in the 2nd quarter worth approximately $25,000. Innealta Capital LLC purchased a new position in shares of Northern Trust in the 2nd quarter worth $26,000. Ridgewood Investments LLC bought a new stake in shares of Northern Trust in the second quarter worth $30,000. Versant Capital Management Inc increased its position in Northern Trust by 343.9% during the second quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 337 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in Northern Trust in the third quarter valued at about $39,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. StockNews.com downgraded Northern Trust from a “buy” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Company boosted their target price on shares of Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. Morgan Stanley upped their target price 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. Evercore ISI boosted their price objective on shares of 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, The Goldman Sachs Group cut Northern Trust from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $84.00 to $82.00 in a report on Thursday, September 26th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $100.67.

Insider Buying and Selling

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 value of $163,462.60. Following the sale, the director now owns 1,000 shares in the company, valued at $88,120. The trade was a 64.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $100.50, for a total value of $2,801,337.00. Following the transaction, the insider now owns 46,078 shares of the company’s stock, valued at approximately $4,630,839. The trade was a 37.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,906 shares of company stock worth $7,643,252. 0.64% of the stock is owned by insiders.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $111.16 on Friday. The stock has a 50-day moving average price of $99.73 and a 200 day moving average price of $90.59. 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 Co. has a 12-month low of $76.67 and a 12-month high of $111.87. The stock has a market capitalization of $22.03 billion, a P/E ratio of 13.83, a P/E/G ratio of 1.24 and a beta of 1.06.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is presently 37.31%.

Northern Trust Company 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.