Ontario Teachers Pension Plan Board Takes $390,000 Position in Northern Trust Co. (NASDAQ:NTRS)

Ontario Teachers Pension Plan Board acquired a new position in Northern Trust Co. (NASDAQ:NTRS) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,336 shares of the asset manager’s stock, valued at approximately $390,000.

A number of other hedge funds also recently bought and sold shares of the company. Allworth Financial LP grew its position in shares of Northern Trust by 9.1% during the 3rd quarter. Allworth Financial LP now owns 1,170 shares of the asset manager’s stock valued at $105,000 after acquiring an additional 98 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in Northern Trust by 14.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the asset manager’s stock valued at $83,000 after purchasing an additional 117 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Northern Trust by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager’s stock valued at $3,608,000 after purchasing an additional 120 shares during the period. Mesirow Financial Investment Management Inc. increased its position in Northern Trust by 0.4% in the third quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager’s stock worth $3,212,000 after buying an additional 127 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Northern Trust by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager’s stock worth $889,000 after buying an additional 131 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Activity

In other news, Director Charles A. Tribbett sold 1,855 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $88,120. The trade was a 64.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark C. Gossett sold 6,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the sale, the executive vice president now owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. This represents a 17.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,906 shares of company stock worth $8,176,652. 0.64% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NTRS shares. Barclays boosted their price objective on Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Morgan Stanley upped their price target on shares of Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Royal Bank of Canada raised their price objective 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. Evercore ISI upped their target price on shares of Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Finally, Bank of America raised their price target on Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $100.67.

Northern Trust Trading Up 0.5 %

NTRS stock opened at $109.46 on Friday. The firm has a market cap of $21.70 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 1.21 and a beta of 1.06. The firm has a fifty day moving average price of $97.76 and a 200 day moving average price of $89.73. 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 fifty-two week low of $75.55 and a fifty-two week high of $109.92.

Northern Trust Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.74%. Northern Trust’s dividend payout ratio (DPR) is presently 37.31%.

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.