Bank of Montreal Can reduced its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 50.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 502,838 shares of the asset manager’s stock after selling 519,304 shares during the quarter. Bank of Montreal Can owned approximately 0.22% of Northern Trust worth $50,229,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of NTRS. Salem Investment Counselors Inc. grew its stake in shares of Northern Trust by 8.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 1,083 shares of the asset manager’s stock worth $105,000 after acquiring an additional 83 shares in the last quarter. MPS Loria Financial Planners LLC bought a new position in shares of Northern Trust during the 2nd quarter worth approximately $134,000. Sun Life Financial INC grew its stake in shares of Northern Trust by 15,740.0% in the second quarter. Sun Life Financial INC now owns 1,584 shares of the asset manager’s stock valued at $154,000 after buying an additional 1,574 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Northern Trust in the second quarter valued at $205,000. Finally, Prudential PLC bought a new position in shares of Northern Trust in the second quarter valued at $207,000. 81.70% of the stock is owned by institutional investors.
In other Northern Trust news, Vice Chairman William L. Morrison sold 11,058 shares of the firm’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $94.34, for a total transaction of $1,043,211.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Clair Joyce St sold 18,489 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $97.51, for a total value of $1,802,862.39. The disclosure for this sale can be found here. Insiders have sold a total of 137,753 shares of company stock valued at $13,433,361 in the last ninety days. Insiders own 1.27% of the company’s stock.
Several equities analysts recently weighed in on the stock. Sandler O’Neill reissued a “hold” rating and issued a $105.00 target price on shares of Northern Trust in a research note on Wednesday, January 10th. Zacks Investment Research raised shares of Northern Trust from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research note on Tuesday, December 19th. Buckingham Research raised their target price on shares of Northern Trust from $95.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, October 19th. UBS Group raised their target price on shares of Northern Trust from $100.00 to $109.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. Finally, BidaskClub raised shares of Northern Trust from a “hold” rating to a “buy” rating in a research note on Saturday, January 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $100.20.
Shares of Northern Trust Co. (NASDAQ NTRS) opened at $106.49 on Friday. Northern Trust Co. has a twelve month low of $81.92 and a twelve month high of $108.04. The stock has a market capitalization of $24,470.00, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 1.57 and a beta of 0.96. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.37.
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Northern Trust Company Profile
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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