Neuberger Berman Group LLC lowered its holdings in Northern Trust Co. (NASDAQ:NTRS) by 6.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,541 shares of the asset manager’s stock after selling 984 shares during the period. Neuberger Berman Group LLC’s holdings in Northern Trust were worth $1,245,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of NTRS. Salem Investment Counselors Inc. grew its holdings in Northern Trust by 8.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 1,083 shares of the asset manager’s stock worth $105,000 after acquiring an additional 83 shares during the last quarter. MPS Loria Financial Planners LLC bought a new stake in Northern Trust during the 2nd quarter worth approximately $134,000. Sun Life Financial INC grew its holdings in Northern Trust by 15,740.0% during the 2nd quarter. Sun Life Financial INC now owns 1,584 shares of the asset manager’s stock worth $154,000 after acquiring an additional 1,574 shares during the last quarter. Cetera Investment Advisers bought a new stake in Northern Trust during the 2nd quarter worth approximately $205,000. Finally, Prudential PLC bought a new stake in Northern Trust during the 2nd quarter worth approximately $207,000. 81.69% of the stock is owned by hedge funds and other institutional investors.
Northern Trust Co. (NASDAQ:NTRS) opened at $99.89 on Monday. The stock has a market cap of $22,717.08, a price-to-earnings ratio of 22.10, a P/E/G ratio of 2.13 and a beta of 0.96. Northern Trust Co. has a 12 month low of $81.92 and a 12 month high of $101.46. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.71 and a current ratio of 0.71.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 1st will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Thursday, November 30th. Northern Trust’s dividend payout ratio is presently 37.17%.
In other Northern Trust news, CEO Frederick H. Waddell sold 44,658 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $97.95, for a total transaction of $4,374,251.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman William L. Morrison sold 11,058 shares of the company’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $94.34, for a total transaction of $1,043,211.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 324,382 shares of company stock worth $31,276,013. Corporate insiders own 1.27% of the company’s stock.
A number of equities research analysts have weighed in on NTRS shares. UBS Group raised shares of Northern Trust from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $92.00 to $100.00 in a report on Friday, September 8th. Zacks Investment Research raised shares of Northern Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Citigroup reaffirmed a “neutral” rating and issued a $92.00 price objective (up from $90.00) on shares of Northern Trust in a research note on Monday, October 9th. Buckingham Research upped their price objective on shares of Northern Trust from $95.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, October 19th. Finally, Morgan Stanley upped their price objective on shares of Northern Trust from $83.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $98.50.
TRADEMARK VIOLATION WARNING: “Neuberger Berman Group LLC Sells 984 Shares of Northern Trust Co. (NTRS)” was reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this story on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this story can be read at https://www.chaffeybreeze.com/2018/01/01/neuberger-berman-group-llc-sells-984-shares-of-northern-trust-co-ntrs.html.
About Northern Trust
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
Receive News & Ratings for Northern Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Trust and related companies with MarketBeat.com's FREE daily email newsletter.