Bank of Montreal Can Boosts Holdings in Northern Trust Co. (NASDAQ:NTRS)

Bank of Montreal Can lifted its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 34.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 283,690 shares of the asset manager’s stock after purchasing an additional 73,327 shares during the period. Bank of Montreal Can’s holdings in Northern Trust were worth $25,552,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NTRS. Olistico Wealth LLC acquired a new position in Northern Trust in the 2nd quarter worth $25,000. Innealta Capital LLC purchased a new stake in shares of Northern Trust during the second quarter worth about $26,000. Ridgewood Investments LLC purchased a new stake in shares of Northern Trust during the second quarter worth about $30,000. Northwest Investment Counselors LLC acquired a new position in shares of Northern Trust in the third quarter worth about $39,000. Finally, Versant Capital Management Inc boosted its holdings in Northern Trust by 343.9% in the second quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 337 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Stock Up 0.5 %

Shares of Northern Trust stock opened at $111.16 on Friday. The stock has a market capitalization of $22.03 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.24 and a beta of 1.06. Northern Trust Co. has a twelve month low of $76.67 and a twelve month high of $111.87. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The business’s 50 day simple moving average is $99.73 and its 200-day simple moving average is $90.59.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s dividend payout ratio is presently 37.31%.

Insider Buying and Selling at Northern Trust

In related news, EVP Thomas A. South sold 5,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $105.80, for a total value of $529,000.00. Following the sale, the executive vice president now owns 49,756 shares of the company’s stock, valued at $5,264,184.80. This trade represents a 9.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Peter Cherecwich sold 16,153 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 4,397 shares of the company’s stock, valued at $462,476.46. The trade was a 78.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,906 shares of company stock worth $7,643,252. 0.64% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wells Fargo & Company upped their target price 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. Barclays upped their price target on shares of Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Bank of America upped their target price on shares of Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, StockNews.com downgraded Northern Trust from a “buy” rating to a “hold” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Northern Trust presently has an average rating of “Hold” and an average 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.