Cerity Partners LLC Raises Stake in Northern Trust Co. (NASDAQ:NTRS)

Cerity Partners LLC boosted its holdings in Northern Trust Co. (NASDAQ:NTRS) by 5.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 100,675 shares of the asset manager’s stock after purchasing an additional 4,989 shares during the quarter. Cerity Partners LLC’s holdings in Northern Trust were worth $9,064,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Studio Investment Management LLC raised its stake in shares of Northern Trust by 3.7% in the 3rd quarter. Studio Investment Management LLC now owns 7,627 shares of the asset manager’s stock valued at $692,000 after acquiring an additional 269 shares during the period. Primecap Management Co. CA raised its position in Northern Trust by 0.5% in the third quarter. Primecap Management Co. CA now owns 7,085,117 shares of the asset manager’s stock valued at $637,873,000 after purchasing an additional 38,360 shares during the period. Ontario Teachers Pension Plan Board acquired a new position in shares of Northern Trust during the third quarter worth about $390,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Northern Trust in the third quarter worth about $2,071,000. Finally, Pathstone Holdings LLC grew its stake in shares of Northern Trust by 2.6% in the third quarter. Pathstone Holdings LLC now owns 15,936 shares of the asset manager’s stock valued at $1,437,000 after buying an additional 402 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NTRS has been the topic of several recent research reports. Bank of America boosted their price target on Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Morgan Stanley upped their target price on shares of Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Barclays lifted their price target on shares of Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. UBS Group upped their price objective on shares of Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $100.67.

Insider Activity at Northern Trust

In related news, 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 owns 1,000 shares in the company, valued at $88,120. This represents a 64.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas A. South sold 5,000 shares of Northern Trust 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 completion of the transaction, the executive vice president now owns 49,756 shares of the company’s stock, valued at approximately $5,264,184.80. The trade was a 9.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,906 shares of company stock valued at $7,643,252. Corporate insiders own 0.64% of the company’s stock.

Northern Trust Stock Up 0.2 %

Shares of Northern Trust stock opened at $110.75 on Wednesday. The business has a 50-day moving average price of $98.58 and a 200 day moving average price of $90.13. Northern Trust Co. has a fifty-two week low of $75.68 and a fifty-two week high of $111.19. The firm has a market cap of $21.95 billion, a P/E ratio of 13.77, a P/E/G ratio of 1.23 and a beta of 1.06. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Northern Trust Dividend Announcement

The company 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 (DPR) is 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.