State of Alaska Department of Revenue Sells 9,515 Shares of Northern Trust Co. (NASDAQ:NTRS)

State of Alaska Department of Revenue reduced its holdings in Northern Trust Co. (NASDAQ:NTRS) by 22.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,818 shares of the asset manager’s stock after selling 9,515 shares during the period. State of Alaska Department of Revenue’s holdings in Northern Trust were worth $2,954,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NTRS. Olistico Wealth LLC bought a new position in Northern Trust during the second quarter worth $25,000. Innealta Capital LLC acquired a new stake in Northern Trust in the 2nd quarter worth $26,000. Ridgewood Investments LLC bought a new position in shares of Northern Trust during the 2nd quarter worth about $30,000. Versant Capital Management Inc raised its position in shares of Northern Trust by 343.9% during the second 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 acquired a new stake in Northern Trust during the third quarter worth about $39,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on NTRS shares. Morgan Stanley upped 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. Wells Fargo & Company raised their target price on Northern Trust from $92.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. The Goldman Sachs Group lowered shares of Northern Trust from a “neutral” rating to a “sell” rating and lowered their price target for the company from $84.00 to $82.00 in a report on Thursday, September 26th. UBS Group lifted their target price 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, Royal Bank of Canada increased their price target on shares of Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Northern Trust presently has an average rating of “Hold” and an average target price of $99.33.

Insider Transactions at Northern Trust

In related news, EVP Teresa Parker sold 5,883 shares of Northern Trust stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the transaction, the executive vice president now directly owns 83,765 shares of the company’s stock, valued at $7,041,285.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Teresa Parker sold 5,883 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the transaction, the executive vice president now owns 83,765 shares in the company, valued at $7,041,285.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark C. Gossett sold 6,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the transaction, the executive vice president now owns 28,707 shares in the company, valued at $2,552,052.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,636 shares of company stock worth $6,443,204. Insiders own 0.64% of the company’s stock.

Northern Trust Stock Performance

NASDAQ NTRS opened at $100.52 on Friday. The firm has a market cap of $20.27 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.45 and a beta of 1.08. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a 1-year low of $64.96 and a 1-year high of $104.25. The company has a 50 day moving average of $92.28 and a 200-day moving average of $87.17.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 2.98%. Northern Trust’s payout ratio is 37.31%.

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.