Cornercap Investment Counsel Inc. Invests $1.56 Million in Northern Trust Co. (NASDAQ:NTRS)

Cornercap Investment Counsel Inc. bought a new stake in Northern Trust Co. (NASDAQ:NTRS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 17,286 shares of the asset manager’s stock, valued at approximately $1,556,000.

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

Northern Trust Trading Down 0.8 %

Shares of NASDAQ:NTRS opened at $105.96 on Friday. The stock has a market capitalization of $21.00 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 1.20 and a beta of 1.06. Northern Trust Co. has a 1-year low of $73.85 and a 1-year high of $108.53. The company has a 50 day moving average price of $94.93 and a 200 day moving average price of $88.57. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Friday, December 6th. Northern Trust’s payout ratio is 37.31%.

Analysts Set New Price Targets

Several research firms have recently weighed in on NTRS. Wells Fargo & Company boosted their target price on shares of Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday. Morgan Stanley increased their target price on Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. UBS Group boosted their price target on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Bank of America raised their price objective on Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Evercore ISI boosted their price objective on shares of Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and a consensus target price of $100.67.

Insider Transactions at Northern Trust

In other news, EVP Thomas A. South sold 5,000 shares of Northern Trust stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $105.80, for a total transaction of $529,000.00. Following the transaction, the executive vice president now owns 49,756 shares in the company, 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 SEC, which can be accessed through the SEC website. Also, EVP Mark C. Gossett sold 6,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the transaction, the executive vice president now directly owns 28,707 shares in the company, valued at $2,552,052.30. The trade was a 17.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 80,906 shares of company stock valued at $8,176,652 over the last three months. Company insiders own 0.64% of the company’s stock.

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.