Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in Northern Trust Co. (NASDAQ:NTRS) by 2.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 88,349 shares of the asset manager’s stock after selling 1,801 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Northern Trust were worth $7,954,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Allworth Financial LP lifted its stake in Northern Trust by 9.1% during the 3rd quarter. Allworth Financial LP now owns 1,170 shares of the asset manager’s stock valued at $105,000 after acquiring an additional 98 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in 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 boosted its holdings in Northern Trust by 0.3% in 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 last quarter. Mesirow Financial Investment Management Inc. grew its position in Northern Trust by 0.4% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager’s stock worth $3,212,000 after purchasing an additional 127 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Northern Trust by 1.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager’s stock valued at $889,000 after buying an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Trading Up 0.5 %

Shares of Northern Trust stock opened at $111.16 on Monday. Northern Trust Co. has a twelve month low of $76.67 and a twelve month high of $111.87. The firm’s 50-day moving average price is $99.73 and its 200 day moving average price is $90.65. 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 $22.03 billion, a PE ratio of 13.83, a P/E/G ratio of 1.25 and a beta of 1.06.

Northern Trust Dividend Announcement

The company also recently declared 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 2.70%. The ex-dividend date is Friday, December 6th. Northern Trust’s dividend payout ratio is presently 37.31%.

Insider Buying and Selling

In other Northern Trust news, EVP Susan Cohen Levy sold 19,585 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $102.26, for a total value of $2,002,762.10. Following the completion of the sale, the executive vice president now directly owns 17,132 shares of the company’s stock, valued at $1,751,918.32. This trade represents a 53.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the transaction, the director now owns 1,000 shares in the company, valued at approximately $88,120. This represents a 64.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,906 shares of company stock worth $7,643,252. 0.64% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NTRS shares. Evercore ISI upped their target price on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Barclays raised their price objective 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. Morgan Stanley boosted their target price on shares of Northern Trust from $97.00 to $103.00 and gave the company 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 dropped their price target for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. Finally, Royal Bank of Canada upped their price objective on shares of Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Northern Trust presently has an average rating of “Hold” and an average price target of $100.67.

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.