Northern Trust Co. (NASDAQ:NTRS) Stake Reduced by Riverwater Partners LLC

Riverwater Partners LLC cut its stake in Northern Trust Co. (NASDAQ:NTRS) by 38.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,317 shares of the asset manager’s stock after selling 1,422 shares during the period. Riverwater Partners LLC’s holdings in Northern Trust were worth $205,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NTRS. International Assets Investment Management LLC lifted its position in Northern Trust by 93,421.2% in the 3rd quarter. International Assets Investment Management LLC now owns 185,172 shares of the asset manager’s stock valued at $152,194,000 after purchasing an additional 184,974 shares during the last quarter. Greenleaf Trust grew its position in Northern Trust by 11.3% in the 3rd quarter. Greenleaf Trust now owns 12,786 shares of the asset manager’s stock worth $1,151,000 after purchasing an additional 1,294 shares during the last quarter. Aquila Investment Management LLC acquired a new stake in shares of Northern Trust in the third quarter valued at approximately $360,000. Eastern Bank bought a new stake in shares of Northern Trust during the third quarter valued at approximately $51,000. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Northern Trust by 4.0% during the third quarter. Sequoia Financial Advisors LLC now owns 32,305 shares of the asset manager’s stock worth $2,909,000 after buying an additional 1,237 shares during the period. 83.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. The Goldman Sachs Group cut Northern Trust from a “neutral” rating to a “sell” rating and lowered their target price for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. Royal Bank of Canada lifted their price objective on shares of Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday. Morgan Stanley increased their target price on shares of Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research report on Thursday. Wells Fargo & Company boosted their price target on shares of Northern Trust from $92.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Thursday. 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. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Northern Trust currently has a consensus rating of “Hold” and an average price target of $99.33.

Insider Buying and Selling

In related news, EVP Teresa Parker sold 5,883 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the transaction, the executive vice president now owns 83,765 shares in the company, valued at $7,041,285.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Teresa Parker sold 5,883 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction of $494,524.98. Following the sale, the executive vice president now owns 83,765 shares in the company, valued at $7,041,285.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark C. Gossett sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total transaction of $533,400.00. Following the completion of the transaction, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at $2,552,052.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,738 shares of company stock worth $1,191,388 in the last three months. 0.64% of the stock is currently owned by insiders.

Northern Trust Trading Up 0.3 %

Shares of NASDAQ:NTRS opened at $102.79 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $20.73 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.65 and a beta of 1.08. Northern Trust Co. has a 1-year low of $62.44 and a 1-year high of $104.25. The company has a 50 day moving average price of $90.51 and a 200 day moving average price of $86.53.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s payout ratio is 41.04%.

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.