M&T Bank Corp Has $1.33 Million Stake in Northern Trust Co. (NASDAQ:NTRS)

M&T Bank Corp cut its stake in Northern Trust Co. (NASDAQ:NTRS) by 6.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,756 shares of the asset manager’s stock after selling 1,034 shares during the quarter. M&T Bank Corp’s holdings in Northern Trust were worth $1,329,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Innealta Capital LLC purchased a new stake in Northern Trust in the 2nd quarter valued at $26,000. Ridgewood Investments LLC purchased a new stake in shares of Northern Trust in the second quarter valued at about $30,000. Northwest Investment Counselors LLC bought a new position in shares of Northern Trust during the third quarter valued at about $39,000. Capital Performance Advisors LLP purchased a new position in Northern Trust during the third quarter worth about $48,000. Finally, Eastern Bank bought a new stake in Northern Trust in the 3rd quarter worth about $51,000. Institutional investors own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

NTRS has been the topic of several recent analyst reports. Barclays lifted their target price on shares of Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. UBS Group boosted their price objective on Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Evercore ISI raised their target price on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. The Goldman Sachs Group downgraded 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 report on Thursday, September 26th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Northern Trust from $100.00 to $113.00 and gave the stock a “market perform” rating in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $105.00.

Insider Buying and Selling

In other news, insider Teresa Parker sold 4,439 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $100.86, for a total value of $447,717.54. Following the sale, the insider now directly owns 79,326 shares of the company’s stock, valued at approximately $8,000,820.36. This represents a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Steven L. Fradkin sold 9,100 shares of the firm’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 transaction of $1,010,100.00. Following the completion of the transaction, the insider now owns 47,797 shares of the company’s stock, valued at $5,305,467. This trade represents a 15.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,151 shares of company stock valued at $8,489,889. Corporate insiders own 0.64% of the company’s stock.

Northern Trust Trading Down 0.4 %

Shares of NTRS stock opened at $104.98 on Monday. The stock has a market capitalization of $20.81 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.18 and a beta of 1.07. The company’s fifty day simple moving average is $103.30 and its two-hundred day simple moving average is $92.34. Northern Trust Co. has a 1 year low of $76.67 and a 1 year high of $111.87. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors 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 dividend on an annualized basis and a dividend yield of 2.86%. Northern Trust’s payout ratio is 37.31%.

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.