BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 4,941 Shares of Northern Trust Co. (NASDAQ:NTRS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 12.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,137 shares of the asset manager’s stock after selling 4,941 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Northern Trust were worth $3,073,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NTRS. FMR LLC increased its holdings in shares of Northern Trust by 9.3% during the third quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock valued at $1,637,435,000 after acquiring an additional 1,542,685 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Northern Trust by 13.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock valued at $622,596,000 after buying an additional 850,556 shares during the last quarter. Panagora Asset Management Inc. grew its stake in shares of Northern Trust by 4,660.5% in the second quarter. Panagora Asset Management Inc. now owns 399,932 shares of the asset manager’s stock worth $33,586,000 after acquiring an additional 391,531 shares during the period. Primecap Management Co. CA boosted its position in Northern Trust by 3.9% in the second quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock worth $591,787,000 after purchasing an additional 261,285 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Northern Trust by 12.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock valued at $168,253,000 after buying an additional 219,387 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Activity

In other news, EVP Thomas A. South sold 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 49,756 shares of the company’s stock, valued at approximately $5,264,184.80. The trade was a 9.13 % decrease in their position. The transaction was disclosed in a document filed 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 on Friday, November 29th. The stock was sold at an average price of $111.00, for a total value of $1,010,100.00. Following the completion of the sale, the insider now owns 47,797 shares of the company’s stock, valued at approximately $5,305,467. This represents a 15.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,006 shares of company stock worth $8,653,352. 0.64% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NTRS shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Bank of America boosted their price objective on Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Wells Fargo & Company raised their target price on shares of Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Evercore ISI upped their price target on shares of Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Finally, StockNews.com cut shares of Northern Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $103.00.

Northern Trust Trading Down 0.5 %

Shares of Northern Trust stock opened at $109.34 on Wednesday. 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 firm has a market cap of $21.67 billion, a price-to-earnings ratio of 13.60, a PEG 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 business has a 50-day moving average price of $100.46 and a 200-day moving average price of $90.98.

Northern Trust Announces Dividend

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 dividend of $0.75 per share. The ex-dividend date is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.74%. Northern Trust’s dividend payout ratio (DPR) 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.