Northern Trust Co. (NASDAQ:NTRS) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc grew its position in Northern Trust Co. (NASDAQ:NTRS) by 6.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,598 shares of the asset manager’s stock after acquiring an additional 1,949 shares during the period. CIBC Asset Management Inc’s holdings in Northern Trust were worth $3,115,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA increased its holdings in Northern Trust by 13.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock worth $622,596,000 after acquiring an additional 850,556 shares in the last quarter. Primecap Management Co. CA increased its position in shares of Northern Trust by 3.9% during the second quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock worth $591,787,000 after purchasing an additional 261,285 shares in the last quarter. Ariel Investments LLC raised its stake in Northern Trust by 3.6% in the 2nd quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager’s stock valued at $222,060,000 after purchasing an additional 91,816 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Northern Trust by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock valued at $168,253,000 after purchasing an additional 219,387 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Northern Trust by 2.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,680 shares of the asset manager’s stock worth $117,713,000 after purchasing an additional 26,984 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Stock Performance

Shares of NTRS stock opened at $108.93 on Tuesday. Northern Trust Co. has a one year low of $74.63 and a one year high of $109.54. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The firm’s 50 day moving average price is $96.10 and its 200-day moving average price is $89.12. The firm has a market cap of $21.59 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.21 and a beta of 1.06.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be paid 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 2.75%. Northern Trust’s payout ratio is presently 37.31%.

Analyst Ratings Changes

NTRS has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. The Goldman Sachs Group lowered shares of Northern Trust from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $84.00 to $82.00 in a research note on Thursday, September 26th. Wells Fargo & Company increased their price target on Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday. Barclays boosted their price objective 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. Finally, StockNews.com raised Northern Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $100.67.

Insider Activity at Northern Trust

In other news, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the sale, the director now directly owns 1,000 shares in the company, valued at approximately $88,120. This trade represents a 64.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the business’s 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 transaction, the insider now directly 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. In the last 90 days, insiders have sold 80,906 shares of company stock worth $8,176,652. 0.64% of the stock is currently owned by company insiders.

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.