Cornercap Investment Counsel Inc. Buys Shares of 17,286 Northern Trust Co. (NASDAQ:NTRS)

Cornercap Investment Counsel Inc. acquired a new position in Northern Trust Co. (NASDAQ:NTRS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,286 shares of the asset manager’s stock, valued at approximately $1,556,000.

Several other institutional investors also recently bought and sold shares of NTRS. CIBC Asset Management Inc lifted its holdings in Northern Trust by 6.0% in the 3rd quarter. CIBC Asset Management Inc now owns 34,598 shares of the asset manager’s stock worth $3,115,000 after purchasing an additional 1,949 shares during the last quarter. Metis Global Partners LLC raised its position in shares of Northern Trust by 4.8% in the third quarter. Metis Global Partners LLC now owns 13,527 shares of the asset manager’s stock valued at $1,218,000 after purchasing an additional 615 shares during the period. Huntington National Bank lifted its stake in shares of Northern Trust by 17.1% in the third quarter. Huntington National Bank now owns 2,133 shares of the asset manager’s stock worth $192,000 after buying an additional 311 shares during the last quarter. Haverford Trust Co boosted its holdings in shares of Northern Trust by 5.9% during the 3rd quarter. Haverford Trust Co now owns 2,904 shares of the asset manager’s stock worth $261,000 after buying an additional 163 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Northern Trust by 67.4% in the 3rd quarter. Victory Capital Management Inc. now owns 403,990 shares of the asset manager’s stock valued at $36,371,000 after buying an additional 162,623 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Stock Performance

NTRS opened at $105.96 on Friday. The company has a market capitalization of $21.00 billion, a price-to-earnings ratio of 13.18, a P/E/G ratio of 1.20 and a beta of 1.06. The business’s 50-day moving average price is $94.93 and its two-hundred day moving average price is $88.57. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust Co. has a 1 year low of $73.85 and a 1 year high of $108.53.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.83%. Northern Trust’s dividend payout ratio is 37.31%.

Analyst Upgrades and Downgrades

NTRS has been the subject of several research analyst reports. Evercore ISI boosted their price objective on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Morgan Stanley raised their target price on Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. StockNews.com upgraded shares of Northern Trust from a “hold” rating to a “buy” rating in a research note on Tuesday. Bank of America boosted their target price on shares of Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company lifted their price objective on Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $100.67.

Insider Activity

In other Northern Trust news, COO Peter Cherecwich sold 16,153 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the sale, the chief operating officer now directly owns 4,397 shares of the company’s stock, valued at approximately $462,476.46. This represents a 78.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction dated Friday, September 13th. The shares were 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 approximately $88,120. This trade represents a 64.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 80,906 shares of company stock worth $8,176,652 in the last quarter. Corporate insiders own 0.64% of the company’s stock.

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.