Davis R M Inc. Sells 2,662 Shares of Northern Trust Co. (NASDAQ:NTRS)

Davis R M Inc. decreased its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 24.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,404 shares of the asset manager’s stock after selling 2,662 shares during the period. Davis R M Inc.’s holdings in Northern Trust were worth $757,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in NTRS. Olistico Wealth LLC acquired a new stake in shares of Northern Trust in the 2nd quarter valued at $25,000. Innealta Capital LLC acquired a new stake in Northern Trust in the second quarter valued at about $26,000. Ridgewood Investments LLC bought a new position in Northern Trust in the second quarter valued at about $30,000. Versant Capital Management Inc grew its position in Northern Trust by 343.9% in the second quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 337 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in Northern Trust during the third quarter worth about $39,000. 83.19% of the stock is owned by institutional investors.

Northern Trust Price Performance

Shares of NTRS opened at $110.53 on Tuesday. The business has a 50-day moving average of $98.18 and a 200-day moving average of $89.96. 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 company has a market capitalization of $21.91 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. Northern Trust Co. has a 1 year low of $75.68 and a 1 year high of $110.99.

Northern Trust Announces Dividend

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 given a $0.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.71%. Northern Trust’s dividend payout ratio (DPR) is currently 37.31%.

Insider Activity

In other Northern Trust news, EVP Thomas A. South sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $105.80, for a total value of $529,000.00. Following the transaction, the executive vice president now directly owns 49,756 shares of the company’s stock, valued at approximately $5,264,184.80. The trade was a 9.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 46,078 shares in the company, valued at $4,630,839. The trade was a 37.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,906 shares of company stock valued at $7,643,252. 0.64% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. UBS Group raised their target price on shares of Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Evercore ISI upped their price target 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. Bank of America raised their price objective on Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada upped their target price on Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $100.67.

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.