Northern Trust Co. (NASDAQ:NTRS) Holdings Boosted by Empowered Funds LLC

Empowered Funds LLC lifted its holdings in Northern Trust Co. (NASDAQ:NTRS) by 7.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,094 shares of the asset manager’s stock after acquiring an additional 293 shares during the quarter. Empowered Funds LLC’s holdings in Northern Trust were worth $369,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Swedbank AB purchased a new position in Northern Trust during the 1st quarter valued at about $1,407,000. Tidal Investments LLC increased its stake in Northern Trust by 141.3% in the 1st quarter. Tidal Investments LLC now owns 13,771 shares of the asset manager’s stock valued at $1,224,000 after buying an additional 8,063 shares during the period. Lazard Asset Management LLC acquired a new position in Northern Trust in the 1st quarter valued at approximately $2,761,000. M&G Plc purchased a new stake in Northern Trust in the 2nd quarter worth approximately $971,000. Finally, Williams Financial LLC acquired a new stake in shares of Northern Trust during the 2nd quarter valued at $1,322,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Transactions at Northern Trust

In other Northern Trust news, EVP Thomas A. South sold 5,000 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 49,756 shares in the company, valued at $5,264,184.80. This trade represents a 9.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,906 shares of company stock worth $7,643,252. Company insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NTRS. Wells Fargo & Company lifted 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. UBS Group lifted their price target on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. The Goldman Sachs Group cut 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 note on Thursday, September 26th. Evercore ISI lifted their target price 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 increased their price target on shares of Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Northern Trust has an average rating of “Hold” and a consensus target price of $100.67.

Northern Trust Price Performance

NASDAQ NTRS opened at $110.53 on Tuesday. The company has a market cap of $21.91 billion, a P/E ratio of 13.75, a P/E/G ratio of 1.23 and a beta of 1.06. Northern Trust Co. has a 1 year low of $75.68 and a 1 year high of $110.99. 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 company has a fifty day simple moving average of $98.18 and a 200 day simple moving average of $89.96.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Friday, December 6th. Northern Trust’s dividend payout ratio is currently 37.31%.

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.