HighTower Advisors LLC Has $2.43 Million Stake in Northern Trust Co. (NASDAQ:NTRS)

HighTower Advisors LLC increased its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 48.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,774 shares of the asset manager’s stock after purchasing an additional 8,781 shares during the period. HighTower Advisors LLC’s holdings in Northern Trust were worth $2,431,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Williams Financial LLC acquired a new stake in shares of Northern Trust during the second quarter worth $1,322,000. Martingale Asset Management L P raised its holdings in Northern Trust by 8.4% in the 3rd quarter. Martingale Asset Management L P now owns 59,118 shares of the asset manager’s stock valued at $5,322,000 after acquiring an additional 4,564 shares in the last quarter. Verition Fund Management LLC lifted its position in shares of Northern Trust by 327.1% during the 3rd quarter. Verition Fund Management LLC now owns 28,510 shares of the asset manager’s stock valued at $2,567,000 after acquiring an additional 21,835 shares during the period. Magnetar Financial LLC acquired a new stake in shares of Northern Trust during the 2nd quarter worth $3,666,000. Finally, Ritholtz Wealth Management bought a new position in shares of Northern Trust in the third quarter worth $488,000. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Stock Performance

Shares of NTRS stock opened at $104.98 on Friday. The firm has a market capitalization of $20.81 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.18 and a beta of 1.07. 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 business’s 50-day moving average price is $103.30 and its 200-day moving average price is $92.20. Northern Trust Co. has a 12 month low of $76.67 and a 12 month high of $111.87.

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 given a dividend of $0.75 per share. The ex-dividend date is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 2.86%. Northern Trust’s dividend payout ratio is presently 37.31%.

Insiders Place Their Bets

In related news, insider Teresa Parker sold 4,439 shares of Northern Trust stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $100.86, for a total value of $447,717.54. Following the transaction, the insider now directly owns 79,326 shares of the company’s stock, valued at $8,000,820.36. The trade was a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Steven L. Fradkin sold 9,100 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the sale, the insider now directly owns 47,797 shares of the company’s stock, valued at $5,305,467. This represents a 15.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,151 shares of company stock valued at $8,489,889 in the last ninety days. 0.64% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Bank of America increased their price objective on shares of Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. UBS Group lifted their price objective on shares of Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Barclays upped their target price on Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Evercore ISI lifted their price target on 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, Deutsche Bank Aktiengesellschaft upped their price objective on Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $105.00.

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.