Toronto Dominion Bank Trims Position in Northern Trust Co. (NASDAQ:NTRS)

Toronto Dominion Bank trimmed its stake in Northern Trust Co. (NASDAQ:NTRS) by 32.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 68,145 shares of the asset manager’s stock after selling 33,065 shares during the period. Toronto Dominion Bank’s holdings in Northern Trust were worth $6,135,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NTRS. Wealth Enhancement Advisory Services LLC grew its stake in Northern Trust by 13.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,588 shares of the asset manager’s stock worth $1,225,000 after purchasing an additional 1,727 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Northern Trust by 28.1% during the second quarter. Blue Trust Inc. now owns 1,204 shares of the asset manager’s stock valued at $107,000 after buying an additional 264 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Northern Trust in the second quarter valued at about $2,800,000. Pallas Capital Advisors LLC lifted its stake in Northern Trust by 98.0% in the second quarter. Pallas Capital Advisors LLC now owns 4,947 shares of the asset manager’s stock worth $427,000 after acquiring an additional 2,449 shares during the period. Finally, &PARTNERS bought a new position in Northern Trust during the 2nd quarter worth about $265,000. 83.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Barclays boosted their price target on shares of Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Bank of America upped their target price on Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Royal Bank of Canada increased their target price on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. StockNews.com upgraded Northern Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Finally, Evercore ISI lifted their target price 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 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. Based on data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and a consensus price target of $105.00.

Insider Buying and Selling at Northern Trust

In related news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the company’s stock in a transaction 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 directly owns 46,078 shares of the company’s stock, valued at $4,630,839. This represents a 37.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Peter Cherecwich sold 16,153 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $105.18, for a total value of $1,698,972.54. Following the sale, the chief operating officer now owns 4,397 shares in the company, valued at approximately $462,476.46. The trade was a 78.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,151 shares of company stock worth $8,489,889. 0.64% of the stock is owned by corporate insiders.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $104.98 on Friday. Northern Trust Co. has a fifty-two week low of $76.67 and a fifty-two week high of $111.87. The company has a market cap of $20.81 billion, a PE ratio of 13.06, a P/E/G ratio of 1.18 and a beta of 1.07. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The business has a 50-day simple moving average of $103.30 and a two-hundred day simple moving average of $92.27.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.86%. The ex-dividend date is Friday, December 6th. Northern Trust’s dividend payout ratio is presently 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.