Northern Trust Co. (NASDAQ:NTRS) Stock Position Cut by ING Groep NV

ING Groep NV lessened its stake in Northern Trust Co. (NASDAQ:NTRS) by 59.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,163 shares of the asset manager’s stock after selling 15,142 shares during the period. ING Groep NV’s holdings in Northern Trust were worth $915,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Olistico Wealth LLC acquired a new stake in Northern Trust in the 2nd quarter valued at about $25,000. Innealta Capital LLC acquired a new stake in Northern Trust in the 2nd quarter valued at about $26,000. Ridgewood Investments LLC acquired a new stake in Northern Trust in the 2nd quarter valued at about $30,000. Versant Capital Management Inc lifted its holdings in Northern Trust by 343.9% in the 2nd 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 acquired a new stake in Northern Trust in the 3rd quarter valued at about $39,000. Institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling

In related news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was 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 in the company, valued at approximately $4,630,839. This represents a 37.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Thomas A. South sold 5,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $105.80, for a total value of $529,000.00. Following the completion of the transaction, the executive vice president now owns 49,756 shares in the company, valued at $5,264,184.80. This represents a 9.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,906 shares of company stock worth $8,176,652. Insiders own 0.64% of the company’s stock.

Northern Trust Price Performance

NASDAQ NTRS opened at $107.60 on Monday. The company has a 50 day simple moving average of $95.68 and a 200-day simple moving average of $88.94. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $21.33 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.21 and a beta of 1.06. Northern Trust Co. has a 52-week low of $73.98 and a 52-week high of $108.53.

Northern Trust Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.79%. Northern Trust’s dividend payout ratio is currently 37.31%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a report on Monday, November 11th. StockNews.com raised shares of Northern Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Wells Fargo & Company upped their price objective on shares of Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday. Evercore ISI upped 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 note on Thursday, October 24th. Finally, Morgan Stanley upped their price objective on shares of Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $100.67.

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, 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.