Nomura Asset Management Co. Ltd. Increases Stake in Northern Trust Co. (NASDAQ:NTRS)

Nomura Asset Management Co. Ltd. grew its position in Northern Trust Co. (NASDAQ:NTRS) by 7.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 63,068 shares of the asset manager’s stock after buying an additional 4,528 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Northern Trust were worth $5,678,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in Northern Trust during the second quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new position in Northern Trust in the 2nd quarter worth $30,000. Northwest Investment Counselors LLC purchased a new position in Northern Trust during the third quarter valued at $39,000. Capital Performance Advisors LLP bought a new stake in Northern Trust during the third quarter valued at about $48,000. Finally, Eastern Bank purchased a new stake in Northern Trust in the third quarter worth about $51,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, Vice Chairman Steven L. Fradkin sold 9,100 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $111.00, for a total value of $1,010,100.00. Following the sale, the insider now owns 47,797 shares in the company, valued at $5,305,467. This trade represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Teresa Parker sold 4,439 shares of Northern Trust stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $100.86, for a total transaction of $447,717.54. Following the sale, the insider now owns 79,326 shares of the company’s stock, valued at $8,000,820.36. The trade was a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,151 shares of company stock worth $8,489,889 over the last ninety days. Company insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Royal Bank of Canada boosted their price objective on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods lifted their target price on shares of Northern Trust from $100.00 to $113.00 and gave the company a “market perform” rating in a research note on Tuesday, December 3rd. Barclays raised their price target on Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their price objective on Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group downgraded Northern Trust from a “neutral” rating to a “sell” rating and decreased their target price for the company from $84.00 to $82.00 in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Northern Trust currently has an average rating of “Hold” and an average target price of $105.00.

Northern Trust Stock Performance

Shares of NASDAQ:NTRS opened at $104.98 on Friday. The firm has a fifty day simple moving average of $103.30 and a two-hundred day simple moving average of $92.20. Northern Trust Co. has a 52 week low of $76.67 and a 52 week high of $111.87. 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 stock has a market capitalization of $20.81 billion, a P/E ratio of 13.06, a PEG ratio of 1.18 and a beta of 1.07.

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 paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 2.86%. Northern Trust’s payout ratio is currently 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.