Northern Trust Co. (NASDAQ:NTRS) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 4.4% in the third quarter, Holdings Channel.com reports. The firm owned 126,788 shares of the asset manager’s stock after selling 5,801 shares during the period. PNC Financial Services Group Inc.’s holdings in Northern Trust were worth $11,415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NTRS. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Northern Trust during the 3rd quarter worth $2,071,000. Pathstone Holdings LLC increased its holdings in Northern Trust by 2.6% in the third quarter. Pathstone Holdings LLC now owns 15,936 shares of the asset manager’s stock valued at $1,437,000 after buying an additional 402 shares during the last quarter. Aviance Capital Partners LLC raised its stake in Northern Trust by 11.8% during the third quarter. Aviance Capital Partners LLC now owns 11,652 shares of the asset manager’s stock valued at $1,049,000 after buying an additional 1,226 shares in the last quarter. Claro Advisors LLC lifted its holdings in Northern Trust by 6.7% during the 3rd quarter. Claro Advisors LLC now owns 9,755 shares of the asset manager’s stock worth $878,000 after buying an additional 614 shares during the last quarter. Finally, Natixis Advisors LLC grew its position in shares of Northern Trust by 31.6% in the 3rd quarter. Natixis Advisors LLC now owns 81,774 shares of the asset manager’s stock worth $7,362,000 after acquiring an additional 19,655 shares in the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. StockNews.com raised Northern Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Evercore ISI lifted their price target 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. Barclays increased their price objective on shares of Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Bank of America upped their target price on Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company boosted their price objective on Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Northern Trust currently has an average rating of “Hold” and a consensus price target of $100.67.

Northern Trust Stock Up 0.5 %

NTRS opened at $109.46 on Friday. The stock’s fifty day moving average is $97.76 and its 200-day moving average is $89.73. Northern Trust Co. has a one year low of $75.55 and a one year high of $109.92. The company has a market capitalization of $21.70 billion, a PE ratio of 13.61, a P/E/G ratio of 1.21 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders 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 yield of 2.74%. The ex-dividend date is Friday, December 6th. Northern Trust’s payout ratio is 37.31%.

Insider Activity

In other Northern Trust news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $100.50, for a total transaction of $2,801,337.00. Following the sale, the insider now owns 46,078 shares in the company, valued at approximately $4,630,839. The trade was a 37.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $88,120. This represents a 64.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,906 shares of company stock worth $8,176,652. Corporate insiders own 0.64% of the company’s stock.

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.