Huntington National Bank Acquires 311 Shares of Northern Trust Co. (NASDAQ:NTRS)

Huntington National Bank boosted its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 17.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,133 shares of the asset manager’s stock after buying an additional 311 shares during the quarter. Huntington National Bank’s holdings in Northern Trust were worth $192,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NTRS. Allworth Financial LP grew its position in shares of Northern Trust by 9.1% during the 3rd quarter. Allworth Financial LP now owns 1,170 shares of the asset manager’s stock valued at $105,000 after acquiring an additional 98 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in Northern Trust by 14.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the asset manager’s stock valued at $83,000 after purchasing an additional 117 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Northern Trust by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager’s stock valued at $3,608,000 after purchasing an additional 120 shares during the period. Mesirow Financial Investment Management Inc. increased its position in Northern Trust by 0.4% in the third quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager’s stock worth $3,212,000 after buying an additional 127 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Northern Trust by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager’s stock valued at $889,000 after buying an additional 131 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Morgan Stanley increased their price target on Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Bank of America increased their target price on shares of Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group lowered shares of Northern Trust from a “neutral” rating to a “sell” rating and lowered their price target for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. 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. Finally, Royal Bank of Canada boosted their target price on shares of Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $100.67.

Northern Trust Stock Up 1.5 %

NTRS opened at $107.60 on Monday. 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 one year low of $73.98 and a one year high of $108.53. The firm has a market capitalization of $21.33 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 1.21 and a beta of 1.06. The company has a fifty day moving average price of $95.68 and a 200-day moving average price of $88.94.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be paid 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%.

Insider Buying and Selling at Northern Trust

In related news, EVP Thomas A. South sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $105.80, for a total value of $529,000.00. Following the transaction, the executive vice president now directly owns 49,756 shares in the company, valued at approximately $5,264,184.80. This represents a 9.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the sale, the director now owns 1,000 shares of the company’s stock, valued at approximately $88,120. The trade was a 64.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 80,906 shares of company stock valued at $8,176,652 in the last 90 days. 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.