PNC Financial Services Group Inc. Decreases Stake in Northern Trust Co. (NASDAQ:NTRS)

PNC Financial Services Group Inc. lessened its stake in Northern Trust Co. (NASDAQ:NTRS) by 4.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,788 shares of the asset manager’s stock after selling 5,801 shares during the quarter. PNC Financial Services Group Inc. owned 0.06% of Northern Trust worth $11,415,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NTRS. Olistico Wealth LLC purchased a new position in Northern Trust in the second quarter valued at about $25,000. Innealta Capital LLC purchased a new position in Northern Trust in the 2nd quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new position in Northern Trust in the 2nd quarter valued at approximately $30,000. Versant Capital Management Inc raised its holdings in Northern Trust by 343.9% during the second quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock worth $37,000 after purchasing an additional 337 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in Northern Trust in the third quarter valued at $39,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NTRS shares. Evercore ISI lifted their price target on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. UBS Group upped their price target on shares of Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. StockNews.com raised shares of Northern Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft upped their target price on Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Royal Bank of Canada raised their price target on Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $100.67.

Insider Transactions at Northern Trust

In related news, EVP Thomas A. South sold 5,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $105.80, for a total transaction of $529,000.00. Following the sale, the executive vice president now directly owns 49,756 shares in the company, valued at approximately $5,264,184.80. This trade represents a 9.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $100.50, for a total transaction of $2,801,337.00. Following the completion of the sale, the insider now directly owns 46,078 shares of the company’s stock, valued at $4,630,839. This trade represents a 37.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 80,906 shares of company stock worth $8,176,652 in the last ninety days. Insiders own 0.64% of the company’s stock.

Northern Trust Price Performance

NTRS opened at $109.46 on Friday. Northern Trust Co. has a 1 year low of $75.55 and a 1 year high of $109.92. 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 company’s 50 day simple moving average is $97.76 and its 200 day simple moving average is $89.73. The stock has a market capitalization of $21.70 billion, a PE ratio of 13.61, a P/E/G ratio of 1.21 and a beta of 1.06.

Northern Trust Announces Dividend

The business 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 dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.74%. Northern Trust’s dividend payout ratio is presently 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.