Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lessened its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,273 shares of the asset manager’s stock after selling 456 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Northern Trust were worth $4,166,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NTRS. Catalyst Capital Advisors LLC acquired a new position in shares of Northern Trust during the 3rd quarter valued at about $68,000. National Pension Service boosted its position in shares of Northern Trust by 7.3% during the 3rd quarter. National Pension Service now owns 363,352 shares of the asset manager’s stock valued at $32,713,000 after acquiring an additional 24,821 shares during the last quarter. Intact Investment Management Inc. acquired a new position in shares of Northern Trust during the 3rd quarter valued at about $73,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Northern Trust by 55.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 416,664 shares of the asset manager’s stock valued at $37,512,000 after acquiring an additional 148,584 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in Northern Trust by 1.4% in the 3rd quarter. Van ECK Associates Corp now owns 131,481 shares of the asset manager’s stock valued at $11,837,000 after buying an additional 1,806 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Price Performance

NTRS stock opened at $105.25 on Friday. The company has a market capitalization of $20.86 billion, a P/E ratio of 13.09, a PEG ratio of 1.17 and a beta of 1.06. Northern Trust Co. has a twelve month low of $68.97 and a twelve month high of $108.53. The business has a 50 day simple moving average of $93.34 and a 200-day simple moving average of $87.79. 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 Dividend Announcement

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 issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, December 6th. Northern Trust’s payout ratio is currently 37.31%.

Analyst Upgrades and Downgrades

NTRS has been the topic of several research analyst reports. Evercore ISI boosted their price objective on shares of Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Morgan Stanley boosted their price target 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. The Goldman Sachs Group lowered shares of Northern Trust from a “neutral” rating to a “sell” rating and cut their price target for the stock from $84.00 to $82.00 in a research note on Thursday, September 26th. Finally, Barclays boosted their price target on shares of Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $99.33.

Insider Transactions at Northern Trust

In other news, insider Teresa Parker sold 4,439 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $100.86, for a total transaction of $447,717.54. Following the completion of the sale, the insider now owns 79,326 shares in the company, valued at $8,000,820.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Teresa Parker sold 4,439 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 79,326 shares in the company, valued at $8,000,820.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark C. Gossett sold 6,000 shares of the firm’s 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 of the company’s stock, valued at approximately $2,552,052.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,906 shares of company stock worth $7,647,652 over the last 90 days. 0.64% of the stock is currently owned by insiders.

About Northern Trust

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.