Martingale Asset Management L P Has $5.32 Million Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Martingale Asset Management L P lifted its stake in Northern Trust Co. (NASDAQ:NTRS) by 8.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 59,118 shares of the asset manager’s stock after purchasing an additional 4,564 shares during the quarter. Martingale Asset Management L P’s holdings in Northern Trust were worth $5,322,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Olistico Wealth LLC acquired a new position in shares of Northern Trust in the 2nd quarter valued at $25,000. Innealta Capital LLC acquired a new stake in Northern Trust during the 2nd quarter worth about $26,000. Ridgewood Investments LLC acquired a new stake in Northern Trust during the 2nd quarter worth about $30,000. Versant Capital Management Inc boosted its position in Northern Trust by 343.9% during the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock worth $37,000 after acquiring an additional 337 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new stake in Northern Trust during the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Stock Up 0.5 %

Shares of NTRS stock opened at $111.16 on Friday. The stock’s 50 day simple moving average is $99.73 and its 200 day simple moving average is $90.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust Co. has a twelve month low of $76.67 and a twelve month high of $111.87. The company has a market capitalization of $22.03 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.24 and a beta of 1.06.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors 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 of this dividend is Friday, December 6th. Northern Trust’s payout ratio is 37.31%.

Wall Street Analysts Forecast Growth

NTRS has been the subject of a number of research reports. Evercore ISI raised their price objective on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Royal Bank of Canada raised their price objective on Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. UBS Group raised their price objective on Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price objective on Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company raised their price objective on Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Northern Trust presently has a consensus rating of “Hold” and a consensus target price of $100.67.

Insider Activity at Northern Trust

In other Northern Trust news, COO Peter Cherecwich sold 16,153 shares of Northern Trust stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $105.18, for a total value of $1,698,972.54. Following the transaction, the chief operating officer now directly owns 4,397 shares of the company’s stock, valued at $462,476.46. The trade was a 78.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of Northern Trust stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $100.50, for a total value of $2,801,337.00. Following the completion of the transaction, the insider now directly owns 46,078 shares in the company, valued at approximately $4,630,839. This represents a 37.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,906 shares of company stock valued at $7,643,252. Corporate insiders own 0.64% of the company’s stock.

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.