Martingale Asset Management L P Purchases 4,564 Shares of Northern Trust Co. (NASDAQ:NTRS)

Martingale Asset Management L P increased its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 8.4% during the third quarter, HoldingsChannel.com reports. The firm owned 59,118 shares of the asset manager’s stock after buying an additional 4,564 shares during the period. Martingale Asset Management L P’s holdings in Northern Trust were worth $5,322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Allworth Financial LP increased its position in shares of Northern Trust by 9.1% during the third quarter. Allworth Financial LP now owns 1,170 shares of the asset manager’s stock valued at $105,000 after purchasing an additional 98 shares during the period. Massmutual Trust Co. FSB ADV increased its position in shares of Northern Trust by 14.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the asset manager’s stock valued at $83,000 after purchasing an additional 117 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Northern Trust by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager’s stock valued at $3,608,000 after purchasing an additional 120 shares during the period. Mesirow Financial Investment Management Inc. increased its position in shares of Northern Trust by 0.4% during the third quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager’s stock valued at $3,212,000 after purchasing an additional 127 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Northern Trust by 1.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager’s stock valued at $889,000 after purchasing an additional 131 shares during the period. 83.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. Bank of America boosted their price target on Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Barclays boosted their price target on Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. The Goldman Sachs Group lowered Northern Trust from a “neutral” rating to a “sell” rating and decreased their price target for the company from $84.00 to $82.00 in a research note on Thursday, September 26th. Evercore ISI boosted their price target on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Finally, UBS Group boosted their price target on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Northern Trust currently has an average rating of “Hold” and an average price target of $100.67.

Northern Trust Trading Up 0.5 %

NTRS stock opened at $111.16 on Friday. The company has a market cap of $22.03 billion, a P/E ratio of 13.83, a PEG ratio of 1.24 and a beta of 1.06. Northern Trust Co. has a twelve month low of $76.67 and a twelve month high of $111.87. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average of $99.73 and a 200-day moving average of $90.59.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be given a dividend of $0.75 per share. 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 2.70%. Northern Trust’s payout ratio is currently 37.31%.

Insider Transactions at Northern Trust

In other news, EVP Thomas A. South sold 5,000 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $105.80, for a total transaction of $529,000.00. Following the completion of the sale, the executive vice president now owns 49,756 shares in the company, valued at $5,264,184.80. The trade was a 9.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $100.50, for a total value of $2,801,337.00. Following the completion of the sale, the insider now owns 46,078 shares of the company’s stock, valued at $4,630,839. This represents a 37.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,906 shares of company stock worth $7,643,252 over the last 90 days. 0.64% of the stock is owned by insiders.

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.