Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 2.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,717 shares of the asset manager’s stock after selling 205 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Northern Trust were worth $813,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of NTRS. Litman Gregory Asset Management LLC bought a new stake in Northern Trust during the 2nd quarter valued at approximately $25,000. Trust Co. of Vermont boosted its stake in Northern Trust by 750.0% during the 2nd quarter. Trust Co. of Vermont now owns 340 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 300 shares during the period. Kavar Capital Partners LLC bought a new stake in Northern Trust during the 2nd quarter valued at approximately $32,000. Oakworth Capital Inc. bought a new stake in Northern Trust during the 2nd quarter valued at approximately $34,000. Finally, Smith Asset Management Group LP boosted its stake in Northern Trust by 90.0% during the 2nd quarter. Smith Asset Management Group LP now owns 380 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 180 shares during the period. 81.69% of the stock is currently owned by institutional investors and hedge funds.
Shares of NTRS stock traded down $0.52 during mid-day trading on Tuesday, reaching $106.26. The stock had a trading volume of 54,088 shares, compared to its average volume of 1,075,421. The firm’s 50 day simple moving average is $96.32 and its 200 day simple moving average is $92.77. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.41. Northern Trust Co. has a one year low of $75.96 and a one year high of $108.45. The firm has a market cap of $22.81 billion, a PE ratio of 15.79, a P/E/G ratio of 1.72 and a beta of 1.22.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $2.80 annualized dividend and a dividend yield of 2.64%. Northern Trust’s dividend payout ratio (DPR) is presently 41.60%.
Several analysts recently weighed in on the company. ValuEngine downgraded Northern Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Citigroup set a $92.00 target price on Northern Trust and gave the company a “sell” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. decreased their target price on Northern Trust from $101.50 to $98.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Wells Fargo & Co set a $110.00 target price on Northern Trust and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Buckingham Research decreased their target price on Northern Trust from $118.00 to $112.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $102.53.
In related news, EVP Thomas A. South sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $98.54, for a total transaction of $98,540.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert P. Browne sold 11,534 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $107.85, for a total value of $1,243,941.90. The disclosure for this sale can be found here. Insiders have sold a total of 42,026 shares of company stock valued at $4,364,026 in the last 90 days. 1.15% of the stock is owned by corporate insiders.
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, Corporate & Institutional Services (C&IS) and Wealth Management.
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