Oppenheimer & Co. Inc. Trims Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Oppenheimer & Co. Inc. trimmed its holdings in Northern Trust Co. (NASDAQ:NTRS) by 17.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,754 shares of the asset manager’s stock after selling 1,196 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Northern Trust were worth $518,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NTRS. Olistico Wealth LLC purchased a new stake in shares of Northern Trust in the 2nd quarter worth about $25,000. Innealta Capital LLC acquired a new stake in Northern Trust in the second quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new position in shares of Northern Trust during the 2nd quarter valued at approximately $30,000. Versant Capital Management Inc boosted its stake in shares of Northern Trust by 343.9% during the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after buying an additional 337 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in Northern Trust during the third quarter worth $39,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NTRS. Barclays increased their target price on Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Wells Fargo & Company increased their target price on Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Evercore ISI raised their price target on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. UBS Group raised 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. Finally, Morgan Stanley raised their price target on Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Three 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 presently has an average rating of “Hold” and a consensus target price of $100.67.

Northern Trust Trading Up 0.0 %

NASDAQ:NTRS opened at $107.88 on Thursday. Northern Trust Co. has a fifty-two week low of $75.26 and a fifty-two week high of $109.54. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The business’s 50-day simple moving average is $96.90 and its 200-day simple moving average is $89.42. The stock has a market capitalization of $21.38 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 1.21 and a beta of 1.06.

Northern Trust Dividend Announcement

The company also recently declared 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. This represents a $3.00 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Friday, December 6th. Northern Trust’s dividend payout ratio is currently 37.31%.

Insider Activity

In other Northern Trust news, EVP Thomas A. South sold 5,000 shares of the firm’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 sale, the executive vice president now owns 49,756 shares in the company, valued at $5,264,184.80. This trade represents a 9.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the stock in a transaction on Friday, October 25th. The shares were 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 of the company’s stock, valued at $4,630,839. The trade was a 37.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,906 shares of company stock valued at $8,176,652 over the last three months. 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.