Jacobs Levy Equity Management Inc. Has $20.83 Million Position in Northern Trust Co. (NASDAQ:NTRS)

Jacobs Levy Equity Management Inc. reduced its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 231,349 shares of the asset manager’s stock after selling 4,298 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Northern Trust were worth $20,828,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Williams Financial LLC acquired a new stake in Northern Trust during the 2nd quarter worth approximately $1,322,000. M&G Plc acquired a new stake in Northern Trust during the 2nd quarter worth approximately $971,000. Diversified Trust Co lifted its holdings in Northern Trust by 47.5% during the 2nd quarter. Diversified Trust Co now owns 24,942 shares of the asset manager’s stock worth $2,095,000 after purchasing an additional 8,028 shares during the last quarter. Magnetar Financial LLC acquired a new stake in Northern Trust during the 2nd quarter worth approximately $3,666,000. Finally, Ritholtz Wealth Management bought a new position in Northern Trust during the 3rd quarter worth $488,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NTRS has been the topic of a number of recent research reports. Royal Bank of Canada raised their price objective on Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Bank of America raised their price objective on Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. UBS Group raised their price objective on Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group lowered Northern Trust from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $84.00 to $82.00 in a research note on Thursday, September 26th. Finally, Keefe, Bruyette & Woods lifted their price target on Northern Trust from $100.00 to $113.00 and gave the company a “market perform” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $103.00.

Insider Buying and Selling

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 value of $447,717.54. Following the completion of the transaction, the insider now directly owns 79,326 shares of the company’s stock, valued at $8,000,820.36. This represents a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Steven L. Fradkin sold 9,100 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $111.00, for a total value of $1,010,100.00. Following the completion of the transaction, the insider now owns 47,797 shares in the company, valued at approximately $5,305,467. The trade was a 15.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,006 shares of company stock valued at $8,653,352. 0.64% of the stock is owned by company insiders.

Northern Trust Trading Down 0.5 %

Shares of NTRS stock opened at $108.77 on Thursday. The firm has a market capitalization of $21.56 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.24 and a beta of 1.07. Northern Trust Co. has a twelve month low of $76.67 and a twelve month high of $111.87. The stock’s fifty day simple moving average is $100.82 and its 200 day simple moving average is $91.11. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Northern Trust Announces Dividend

The firm 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. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s dividend payout ratio is 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.