Commerce Bank Reduces Holdings in Northern Trust Co. (NASDAQ:NTRS)

Commerce Bank reduced its stake in Northern Trust Co. (NASDAQ:NTRS) by 17.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 52,995 shares of the asset manager’s stock after selling 11,541 shares during the quarter. Commerce Bank’s holdings in Northern Trust were worth $4,771,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC grew its holdings in shares of Northern Trust by 30.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,146 shares of the asset manager’s stock valued at $280,000 after buying an additional 743 shares during the last quarter. Bessemer Group Inc. grew its stake in Northern Trust by 668.0% during the 1st quarter. Bessemer Group Inc. now owns 20,205 shares of the asset manager’s stock valued at $1,797,000 after purchasing an additional 17,574 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in shares of Northern Trust in the first quarter valued at about $229,000. Toronto Dominion Bank raised its stake in shares of Northern Trust by 1.3% in the first quarter. Toronto Dominion Bank now owns 119,385 shares of the asset manager’s stock worth $10,616,000 after purchasing an additional 1,544 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Northern Trust by 67.6% during the first quarter. Canada Pension Plan Investment Board now owns 416,374 shares of the asset manager’s stock worth $37,024,000 after purchasing an additional 167,874 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $109.46 on Friday. 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 firm has a fifty day moving average of $97.76 and a 200 day moving average of $89.73. The firm has a market cap of $21.70 billion, a PE ratio of 13.61, a PEG ratio of 1.21 and a beta of 1.06. Northern Trust Co. has a one year low of $75.55 and a one year high of $109.92.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.74%. Northern Trust’s dividend payout ratio (DPR) is presently 37.31%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NTRS shares. Royal Bank of Canada raised their price target on shares of Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Evercore ISI boosted their target price 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. StockNews.com raised Northern Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group lowered Northern Trust from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $84.00 to $82.00 in a report on Thursday, September 26th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $100.67.

Insider Activity at Northern Trust

In other news, EVP Mark C. Gossett sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total value of $533,400.00. Following the transaction, the executive vice president now owns 28,707 shares in the company, valued at $2,552,052.30. This trade represents a 17.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of Northern Trust 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 completion of the sale, the insider now directly owns 46,078 shares in the company, valued at $4,630,839. This represents 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 80,906 shares of company stock valued at $8,176,652. 0.64% of the stock is owned by corporate insiders.

About Northern Trust

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.