Harbour Trust & Investment Management Co Sells 830 Shares of Northern Trust Co. (NASDAQ:NTRS)

Harbour Trust & Investment Management Co lowered its stake in Northern Trust Co. (NASDAQ:NTRS) by 18.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,726 shares of the asset manager’s stock after selling 830 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Northern Trust were worth $335,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its stake in Northern Trust by 13.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock worth $622,596,000 after acquiring an additional 850,556 shares during the period. Primecap Management Co. CA increased its stake in shares of 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 in the last quarter. Ariel Investments LLC raised its position in shares of Northern Trust by 3.6% during the 2nd quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager’s stock valued at $222,060,000 after purchasing an additional 91,816 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Northern Trust by 12.3% during the 2nd 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 in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in Northern Trust by 2.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,680 shares of the asset manager’s stock worth $117,713,000 after buying an additional 26,984 shares during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NTRS shares. The Goldman Sachs Group downgraded Northern Trust from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. Evercore ISI boosted their price target on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Wells Fargo & Company boosted their target price on shares of Northern Trust from $92.00 to $108.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Barclays raised their target price on shares of Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and an average price target of $99.33.

Insider Activity

In other news, EVP Mark C. Gossett sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total transaction of $533,400.00. Following the transaction, the executive vice president now owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the sale, the director now owns 1,000 shares in the company, valued at approximately $88,120. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark C. Gossett sold 6,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total transaction of $533,400.00. Following the transaction, the executive vice president now owns 28,707 shares in the company, valued at $2,552,052.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,738 shares of company stock valued at $1,191,388 in the last ninety days. Insiders own 0.64% of the company’s stock.

Northern Trust Stock Performance

Northern Trust stock opened at $102.79 on Friday. The company’s 50-day moving average price is $90.51 and its 200-day moving average price is $86.53. 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 company has a market cap of $20.73 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 1.65 and a beta of 1.08. Northern Trust Co. has a twelve month low of $62.44 and a twelve month high of $104.25.

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 given a dividend of $0.75 per share. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.92%. Northern Trust’s dividend payout ratio (DPR) is presently 41.04%.

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.