Kovitz Investment Group Partners LLC Purchases 5,578 Shares of Northern Trust Co. (NASDAQ:NTRS)

Kovitz Investment Group Partners LLC grew its position in Northern Trust Co. (NASDAQ:NTRS) by 68.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,765 shares of the asset manager’s stock after acquiring an additional 5,578 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Northern Trust were worth $1,239,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. M&G Plc acquired a new position in Northern Trust in the second quarter worth $971,000. Wealth Enhancement Advisory Services LLC grew its holdings in Northern Trust by 13.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,588 shares of the asset manager’s stock worth $1,225,000 after acquiring an additional 1,727 shares during the last quarter. Welch Group LLC acquired a new stake in Northern Trust in the 2nd quarter valued at about $257,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of Northern Trust by 42.3% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,850 shares of the asset manager’s stock worth $168,000 after acquiring an additional 550 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Northern Trust by 28.1% during the second quarter. Blue Trust Inc. now owns 1,204 shares of the asset manager’s stock worth $107,000 after purchasing an additional 264 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NTRS has been the subject of a number of research reports. UBS Group raised their price target on shares of Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Evercore ISI boosted their target price 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. Wells Fargo & Company upped their price target on Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft lifted 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, Royal Bank of Canada upped their target price on shares of Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $105.00.

Insider Activity at Northern Trust

In other Northern Trust news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,630,839. The trade was a 37.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas A. South sold 5,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $105.80, for a total value of $529,000.00. Following the sale, the executive vice president now directly owns 49,756 shares in the company, valued at approximately $5,264,184.80. This represents a 9.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,006 shares of company stock worth $8,653,352 in the last quarter. Corporate insiders own 0.64% of the company’s stock.

Northern Trust Stock Down 0.4 %

Northern Trust stock opened at $108.15 on Wednesday. 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 current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $21.44 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.21 and a beta of 1.07. The company’s 50 day simple moving average is $101.95 and its 200 day simple moving average is $91.68.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is 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.