Northern Trust Co. (NASDAQ:NTRS) Position Increased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC lifted its holdings in Northern Trust Co. (NASDAQ:NTRS) by 21.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 5,984 shares of the asset manager’s stock after buying an additional 1,037 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Northern Trust were worth $539,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its stake in Northern Trust by 13.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock valued at $622,596,000 after acquiring an additional 850,556 shares during the period. Panagora Asset Management Inc. boosted its position in Northern Trust by 4,660.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 399,932 shares of the asset manager’s stock valued at $33,586,000 after purchasing an additional 391,531 shares during the period. Primecap Management Co. CA boosted its position in Northern Trust by 3.9% during the 2nd quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock valued at $591,787,000 after purchasing an additional 261,285 shares during the period. Dimensional Fund Advisors LP increased its position in Northern Trust by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock worth $168,253,000 after buying an additional 219,387 shares during the period. Finally, AQR Capital Management LLC increased its position in Northern Trust by 55.1% in the second quarter. AQR Capital Management LLC now owns 597,146 shares of the asset manager’s stock worth $49,575,000 after buying an additional 212,089 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Teresa Parker sold 4,439 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $100.86, for a total transaction of $447,717.54. Following the completion of the sale, the insider now directly owns 79,326 shares in the company, valued at approximately $8,000,820.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Teresa Parker sold 4,439 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $100.86, for a total transaction of $447,717.54. Following the completion of the sale, the insider now directly owns 79,326 shares of the company’s stock, valued at $8,000,820.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of Northern Trust stock in a transaction on Friday, October 25th. The stock was sold at an average price of $100.50, for a total value of $2,801,337.00. Following the completion of the transaction, the insider now owns 46,078 shares in the company, valued at $4,630,839. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,636 shares of company stock worth $6,443,204 in the last ninety days. 0.64% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NTRS has been the subject of several recent research reports. Bank of America upped their price target 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. Deutsche Bank Aktiengesellschaft upped their target price on shares of Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Barclays lifted their price target on Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Morgan Stanley increased their price objective on Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company lifted their target price on Northern Trust from $92.00 to $108.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. 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, the company has a consensus rating of “Hold” and an average price target of $99.33.

Northern Trust Price Performance

NASDAQ:NTRS opened at $101.46 on Thursday. Northern Trust Co. has a 52-week low of $64.96 and a 52-week high of $104.25. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market cap of $20.46 billion, a P/E ratio of 12.62, a PEG ratio of 1.45 and a beta of 1.08. The business’s 50-day moving average price is $92.01 and its 200 day moving average price is $87.08.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors 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 2.96%. Northern Trust’s payout ratio is currently 37.31%.

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.