Busey Bank Boosts Stake in Northern Trust Co. (NASDAQ:NTRS)

Busey Bank grew its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 7.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,224 shares of the asset manager’s stock after buying an additional 1,145 shares during the quarter. Busey Bank’s holdings in Northern Trust were worth $1,551,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its holdings in Northern Trust by 13.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock worth $622,596,000 after acquiring an additional 850,556 shares during the period. Primecap Management Co. CA raised its stake in shares of Northern Trust by 3.9% during the 2nd quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock worth $591,787,000 after purchasing an additional 261,285 shares during the period. Ariel Investments LLC raised its stake in shares of Northern Trust by 3.6% during the 2nd quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager’s stock worth $222,060,000 after purchasing an additional 91,816 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Northern Trust by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock worth $168,253,000 after buying an additional 219,387 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Northern Trust by 2.0% during the second quarter. Thrivent Financial for Lutherans now owns 1,401,680 shares of the asset manager’s stock valued at $117,713,000 after buying an additional 26,984 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Performance

Northern Trust stock opened at $102.79 on Friday. Northern Trust Co. has a 1-year low of $62.44 and a 1-year high of $104.25. 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 firm has a market capitalization of $20.73 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 1.65 and a beta of 1.08. The firm’s 50 day simple moving average is $90.51 and its 200 day simple moving average is $86.53.

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 issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.92%. Northern Trust’s payout ratio is currently 41.04%.

Wall Street Analyst Weigh In

NTRS has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their target price on shares of Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday. Wells Fargo & Company raised their target price on Northern Trust from $92.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Thursday. Barclays upped their price target on Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday. Bank of America lifted their price objective on Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Morgan Stanley increased their target price on shares of Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a research report on Thursday. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and an average target price of $99.33.

Insider Buying and Selling

In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the transaction, the director now directly owns 1,000 shares in the company, valued at $88,120. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Teresa Parker sold 5,883 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the transaction, the executive vice president now directly owns 83,765 shares in the company, valued at approximately $7,041,285.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the sale, the director now owns 1,000 shares in the company, valued at $88,120. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,738 shares of company stock worth $1,191,388. Corporate 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.