Public Sector Pension Investment Board Purchases 400 Shares of Northern Trust Co. (NASDAQ:NTRS)

Public Sector Pension Investment Board boosted its position in Northern Trust Co. (NASDAQ:NTRS) by 1.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,191 shares of the asset manager’s stock after purchasing an additional 400 shares during the quarter. Public Sector Pension Investment Board’s holdings in Northern Trust were worth $3,168,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of Northern Trust in the 2nd quarter worth about $26,000. Ridgewood Investments LLC bought a new position in shares of Northern Trust during the second quarter valued at approximately $30,000. Northwest Investment Counselors LLC bought a new stake in shares of Northern Trust in the 3rd quarter worth approximately $39,000. Capital Performance Advisors LLP purchased a new position in Northern Trust during the third quarter valued at $48,000. Finally, Eastern Bank bought a new position in Northern Trust in the 3rd quarter worth about $51,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. UBS Group boosted their price target on Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods increased their price objective on Northern Trust from $100.00 to $113.00 and gave the company a “market perform” rating in a research report on Tuesday. Royal Bank of Canada boosted their target price on Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group downgraded 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 report on Thursday, September 26th. 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 company’s stock. According to MarketBeat, Northern Trust presently has a consensus rating of “Hold” and an average price target of $103.00.

Insider Transactions at Northern Trust

In other news, Vice Chairman Steven L. Fradkin sold 9,100 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 47,797 shares in the company, valued at $5,305,467. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the transaction, the director now owns 1,000 shares of the company’s stock, 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 quarter, insiders have sold 84,006 shares of company stock valued at $8,653,352. 0.64% of the stock is currently owned by corporate insiders.

Northern Trust Stock Performance

NASDAQ NTRS opened at $109.34 on Wednesday. The business has a 50-day moving average price of $100.46 and a 200-day moving average price of $90.98. The firm has a market cap of $21.67 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth 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 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is currently 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.