Franklin Resources Inc. Sells 85,394 Shares of Northern Trust Co. (NASDAQ:NTRS)

Franklin Resources Inc. lessened its stake in Northern Trust Co. (NASDAQ:NTRS) by 35.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 158,475 shares of the asset manager’s stock after selling 85,394 shares during the period. Franklin Resources Inc.’s holdings in Northern Trust were worth $14,906,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of Northern Trust in the second quarter worth $26,000. Ridgewood Investments LLC purchased a new stake in shares of Northern Trust during the 2nd quarter valued at about $30,000. Northwest Investment Counselors LLC bought a new position in shares of Northern Trust in the 3rd quarter worth approximately $39,000. Capital Performance Advisors LLP purchased a new position in shares of Northern Trust in the third quarter worth approximately $48,000. Finally, Eastern Bank bought a new stake in Northern Trust during the third quarter valued at approximately $51,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Northern Trust

In related news, EVP Susan Cohen Levy sold 19,585 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $102.26, for a total value of $2,002,762.10. Following the sale, the executive vice president now directly owns 17,132 shares of the company’s stock, valued at $1,751,918.32. This represents a 53.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $100.50, for a total value of $2,801,337.00. Following the transaction, the insider now owns 46,078 shares of the company’s stock, valued at $4,630,839. This trade represents a 37.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,151 shares of company stock valued at $8,489,889 in the last 90 days. Insiders own 0.64% of the company’s stock.

Northern Trust Trading Up 2.0 %

Northern Trust stock opened at $102.48 on Friday. Northern Trust Co. has a 1 year low of $76.67 and a 1 year high of $111.87. The firm’s 50 day moving average price is $104.44 and its 200-day moving average price is $92.88. 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 stock has a market cap of $20.31 billion, a P/E ratio of 12.75, a PEG ratio of 1.18 and a beta of 1.07.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s payout ratio is currently 37.31%.

Wall Street Analyst Weigh In

NTRS has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. The Goldman Sachs Group downgraded Northern Trust from a “neutral” rating to a “sell” rating and lowered their target price for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. Keefe, Bruyette & Woods upped their price target on Northern Trust from $100.00 to $113.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 3rd. 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 note on Friday, November 15th. Finally, Evercore ISI boosted their price objective on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $105.00.

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.