Curi RMB Capital LLC Cuts Stake in Northern Trust Co. (NASDAQ:NTRS)

Curi RMB Capital LLC lowered its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 8.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,688 shares of the asset manager’s stock after selling 885 shares during the period. Curi RMB Capital LLC’s holdings in Northern Trust were worth $872,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Empowered Funds LLC grew its holdings in Northern Trust by 103.6% during the 1st quarter. Empowered Funds LLC now owns 4,987 shares of the asset manager’s stock valued at $443,000 after buying an additional 2,537 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Northern Trust by 15.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 246,319 shares of the asset manager’s stock valued at $21,903,000 after buying an additional 32,534 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Northern Trust by 4.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 119,389 shares of the asset manager’s stock valued at $10,610,000 after buying an additional 4,955 shares in the last quarter. Intech Investment Management LLC grew its holdings in Northern Trust by 1,891.1% during the 1st quarter. Intech Investment Management LLC now owns 56,845 shares of the asset manager’s stock valued at $5,055,000 after buying an additional 53,990 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Northern Trust by 4,646.7% during the 1st quarter. Acadian Asset Management LLC now owns 29,097 shares of the asset manager’s stock valued at $2,585,000 after buying an additional 28,484 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NTRS shares. Royal Bank of Canada raised their price target on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Evercore ISI raised their price target on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Morgan Stanley lifted their target price on Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. StockNews.com upgraded Northern Trust from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Barclays lifted their target price on Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $100.67.

Northern Trust Price Performance

Shares of NTRS stock opened at $107.60 on Friday. Northern Trust Co. has a 52-week low of $73.98 and a 52-week high of $108.53. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $21.33 billion, a P/E ratio of 13.38, a P/E/G ratio of 1.20 and a beta of 1.06. The stock has a 50 day moving average price of $95.26 and a 200 day moving average price of $88.69.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is presently 37.31%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, Vice Chairman Steven L. Fradkin sold 27,874 shares of Northern Trust stock in a transaction on Friday, October 25th. The stock was sold at an average price of $100.50, for a total transaction of $2,801,337.00. Following the completion of the sale, the insider now directly owns 46,078 shares of the company’s stock, valued at $4,630,839. The trade was a 37.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark C. Gossett sold 6,000 shares of Northern Trust stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the sale, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. This trade represents a 17.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,906 shares of company stock valued at $8,176,652 in the last ninety days. Corporate insiders own 0.64% of the company’s stock.

Northern Trust Company 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.