Bank of Montreal Can Grows Stake in Northern Trust Co. (NASDAQ:NTRS)

Bank of Montreal Can boosted its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 34.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 283,690 shares of the asset manager’s stock after purchasing an additional 73,327 shares during the quarter. Bank of Montreal Can owned approximately 0.14% of Northern Trust worth $25,552,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NTRS. Allworth Financial LP boosted its position in shares of Northern Trust by 9.1% in the 3rd quarter. Allworth Financial LP now owns 1,170 shares of the asset manager’s stock worth $105,000 after buying an additional 98 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of Northern Trust by 14.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the asset manager’s stock valued at $83,000 after purchasing an additional 117 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Northern Trust by 0.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager’s stock worth $3,608,000 after purchasing an additional 120 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its position in shares of Northern Trust by 0.4% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager’s stock worth $3,212,000 after purchasing an additional 127 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Northern Trust by 1.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager’s stock valued at $889,000 after buying an additional 131 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 shares were sold at an average price of $105.80, for a total transaction of $529,000.00. Following the completion of the sale, the executive vice president now directly owns 49,756 shares in the company, valued at $5,264,184.80. The trade was a 9.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Peter Cherecwich sold 16,153 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the completion of the transaction, the chief operating officer now directly owns 4,397 shares in the company, valued at approximately $462,476.46. This represents a 78.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,906 shares of company stock valued at $7,643,252. 0.64% of the stock is currently owned by corporate insiders.

Northern Trust Price Performance

Shares of Northern Trust stock opened at $111.16 on Friday. The stock has a market capitalization of $22.03 billion, a P/E ratio of 13.83, a PEG ratio of 1.24 and a beta of 1.06. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The business’s fifty day moving average price is $99.73 and its 200 day moving average price is $90.59. Northern Trust Co. has a twelve month low of $76.67 and a twelve month high of $111.87.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s payout ratio is currently 37.31%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NTRS. Deutsche Bank Aktiengesellschaft upped their price objective on Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a research report on Monday, November 11th. StockNews.com cut shares of Northern Trust from a “buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley upped their price objective on shares of Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Evercore ISI lifted their target price on shares of Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Finally, UBS Group increased their price target on Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Northern Trust has a consensus rating of “Hold” and a consensus target price of $100.67.

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.