UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 16,500 Shares of Northern Trust Co. (NASDAQ:NTRS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Northern Trust Co. (NASDAQ:NTRS) by 1.1% in the 3rd quarter, Holdings Channel reports. The fund owned 1,577,091 shares of the asset manager’s stock after acquiring an additional 16,500 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Northern Trust were worth $141,986,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tidal Investments LLC lifted its holdings in shares of Northern Trust by 141.3% during the first quarter. Tidal Investments LLC now owns 13,771 shares of the asset manager’s stock valued at $1,224,000 after purchasing an additional 8,063 shares during the last quarter. Swedbank AB purchased a new position in Northern Trust during the first quarter valued at $1,407,000. DekaBank Deutsche Girozentrale grew its stake in shares of Northern Trust by 8.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 43,593 shares of the asset manager’s stock worth $3,838,000 after acquiring an additional 3,285 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Northern Trust by 39.1% in the 2nd quarter. GAMMA Investing LLC now owns 2,892 shares of the asset manager’s stock worth $243,000 after purchasing an additional 813 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Northern Trust by 23.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 805 shares of the asset manager’s stock worth $68,000 after purchasing an additional 151 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Bank of America raised their price objective on shares of 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 upped their price objective on Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. UBS Group lifted their target price on Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Evercore ISI upped 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. Finally, Royal Bank of Canada lifted their price objective on Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Northern Trust currently has a consensus rating of “Hold” and an average target price of $100.67.

Insiders Place Their Bets

In other Northern Trust news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the company’s 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 $4,630,839. This represents a 37.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Peter Cherecwich sold 16,153 shares of Northern Trust stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the sale, the chief operating officer now owns 4,397 shares in the company, valued at approximately $462,476.46. The trade was a 78.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,906 shares of company stock worth $7,643,252 over the last three months. 0.64% of the stock is currently owned by company insiders.

Northern Trust Price Performance

NASDAQ NTRS opened at $111.16 on Monday. The business’s fifty day moving average is $99.73 and its 200 day moving average is $90.65. Northern Trust Co. has a fifty-two week low of $76.67 and a fifty-two week high of $111.87. 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 company has a market capitalization of $22.03 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 1.25 and a beta of 1.06.

Northern Trust Dividend Announcement

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 paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Friday, December 6th. Northern Trust’s payout ratio is 37.31%.

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.