Daiwa Securities Group Inc. Raises Holdings in Northern Trust Co. (NASDAQ:NTRS)

Daiwa Securities Group Inc. lifted its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 11.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,668 shares of the asset manager’s stock after purchasing an additional 2,474 shares during the period. Daiwa Securities Group Inc.’s holdings in Northern Trust were worth $2,221,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Swedbank AB purchased a new position in shares of Northern Trust during the 1st quarter worth approximately $1,407,000. Tidal Investments LLC grew its stake in Northern Trust by 141.3% in the 1st quarter. Tidal Investments LLC now owns 13,771 shares of the asset manager’s stock worth $1,224,000 after acquiring an additional 8,063 shares during the period. M&G Plc purchased a new stake in Northern Trust in the 2nd quarter worth approximately $971,000. Williams Financial LLC purchased a new stake in Northern Trust in the 2nd quarter worth approximately $1,322,000. Finally, Diversified Trust Co grew its stake in Northern Trust by 47.5% in the 2nd quarter. Diversified Trust Co now owns 24,942 shares of the asset manager’s stock worth $2,095,000 after acquiring an additional 8,028 shares during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Northern Trust news, EVP Thomas A. South sold 5,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $105.80, for a total value of $529,000.00. Following the completion of the transaction, the executive vice president now owns 49,756 shares in the company, valued at approximately $5,264,184.80. This represents a 9.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Peter Cherecwich sold 16,153 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the completion of the transaction, the chief operating officer now owns 4,397 shares of the company’s stock, valued at approximately $462,476.46. This trade represents a 78.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,906 shares of company stock worth $7,643,252 in the last quarter. 0.64% of the stock is owned by corporate insiders.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $110.59 on Friday. 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 firm has a market capitalization of $21.92 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.24 and a beta of 1.06. The firm’s fifty day simple moving average is $99.35 and its 200 day simple moving average is $90.41. Northern Trust Co. has a twelve month low of $75.70 and a twelve month high of $111.57.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be issued 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 yield of 2.71%. Northern Trust’s dividend payout ratio is currently 37.31%.

Wall Street Analyst Weigh In

Several analysts have commented on NTRS shares. Deutsche Bank Aktiengesellschaft lifted their target price 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 cut shares of Northern Trust from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $84.00 to $82.00 in a research note on Thursday, September 26th. Morgan Stanley lifted their target price on shares of Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Bank of America lifted their price target on shares of Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, UBS Group lifted 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. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $100.67.

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.