Raymond James Trust N.A. Sells 1,660 Shares of Northern Trust Co. (NASDAQ:NTRS)

Raymond James Trust N.A. lowered its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 17.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,610 shares of the asset manager’s stock after selling 1,660 shares during the quarter. Raymond James Trust N.A.’s holdings in Northern Trust were worth $685,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Swedbank AB purchased a new stake in shares of Northern Trust in the first quarter valued at $1,407,000. Tidal Investments LLC raised its position in Northern Trust by 141.3% in the 1st quarter. Tidal Investments LLC now owns 13,771 shares of the asset manager’s stock worth $1,224,000 after purchasing an additional 8,063 shares during the period. Lazard Asset Management LLC bought a new stake in Northern Trust in the first quarter worth about $2,761,000. M&G Plc purchased a new position in shares of Northern Trust during the second quarter valued at approximately $971,000. Finally, Williams Financial LLC bought a new position in shares of Northern Trust during the second quarter valued at approximately $1,322,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on NTRS. UBS Group raised their price target on Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. StockNews.com upgraded Northern Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Evercore ISI upped their price target on shares of Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Barclays lifted their price objective 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. Finally, Royal Bank of Canada upped their target price on shares of Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Northern Trust has an average rating of “Hold” and an average price target 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 PE ratio of 13.75, a P/E/G ratio of 1.23 and a beta of 1.06. Northern Trust Co. has a 52-week low of $75.68 and a 52-week high of $110.99. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The firm’s 50 day moving average price is $98.18 and its 200-day moving average price is $89.96.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders 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 dividend yield of 2.71%. Northern Trust’s dividend payout ratio is presently 37.31%.

Insider Transactions at Northern Trust

In other Northern Trust news, COO Peter Cherecwich sold 16,153 shares of Northern Trust stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $105.18, for a total value of $1,698,972.54. Following the transaction, the chief operating officer now owns 4,397 shares in the company, valued at $462,476.46. The trade was a 78.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of the 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 sale, the director now directly 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. In the last three months, insiders sold 74,906 shares of company stock valued at $7,643,252. 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.