Metis Global Partners LLC Raises Position in Northern Trust Co. (NASDAQ:NTRS)

Metis Global Partners LLC boosted its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 4.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,527 shares of the asset manager’s stock after purchasing an additional 615 shares during the period. Metis Global Partners LLC’s holdings in Northern Trust were worth $1,218,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co grew its holdings in Northern Trust by 6.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 360,640 shares of the asset manager’s stock worth $32,111,000 after acquiring an additional 23,020 shares in the last quarter. Bessemer Group Inc. boosted its position in Northern Trust by 668.0% during the 1st quarter. Bessemer Group Inc. now owns 20,205 shares of the asset manager’s stock worth $1,797,000 after acquiring an additional 17,574 shares during the period. Intech Investment Management LLC increased its holdings in shares of Northern Trust by 1,891.1% during the first quarter. Intech Investment Management LLC now owns 56,845 shares of the asset manager’s stock valued at $5,055,000 after purchasing an additional 53,990 shares during the period. Swedbank AB acquired a new position in Northern Trust during the 1st quarter valued at about $1,407,000. Finally, Tidal Investments LLC raised its holdings in Northern Trust by 141.3% during the first quarter. Tidal Investments LLC now owns 13,771 shares of the asset manager’s stock worth $1,224,000 after purchasing an additional 8,063 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, COO Peter Cherecwich sold 16,153 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $105.18, for a total value of $1,698,972.54. Following the transaction, the chief operating officer now owns 4,397 shares in the company, valued at $462,476.46. The trade was a 78.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 46,078 shares of the company’s stock, valued at $4,630,839. This trade represents a 37.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 80,906 shares of company stock worth $8,176,652. 0.64% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NTRS has been the subject of a number of research reports. The Goldman Sachs Group lowered Northern Trust from a “neutral” rating to a “sell” rating and decreased their price target for the company from $84.00 to $82.00 in a research note on Thursday, September 26th. Evercore ISI boosted their price target on shares of Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. StockNews.com upgraded shares of Northern Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Barclays boosted their target price on shares of Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Finally, Bank of America raised their target price on shares of Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $100.67.

Northern Trust Stock Up 1.5 %

Shares of Northern Trust stock opened at $107.60 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a 1 year low of $73.98 and a 1 year high of $108.53. The stock has a 50-day moving average price of $95.68 and a 200 day moving average price of $88.86. The company has a market cap of $21.33 billion, a P/E ratio of 13.38, a P/E/G ratio of 1.20 and a beta of 1.06.

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 issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s dividend payout ratio is currently 37.31%.

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.