Cutler Investment Counsel LLC Sells 1,389 Shares of Northern Trust Co. (NASDAQ:NTRS)

Cutler Investment Counsel LLC decreased its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 2.3% during the 3rd quarter, Holdings Channel reports. The firm owned 58,344 shares of the asset manager’s stock after selling 1,389 shares during the quarter. Cutler Investment Counsel LLC’s holdings in Northern Trust were worth $5,296,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NTRS. Allworth Financial LP boosted its stake in Northern Trust by 9.1% during the 3rd quarter. Allworth Financial LP now owns 1,170 shares of the asset manager’s stock valued at $105,000 after purchasing an additional 98 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Northern Trust by 14.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the asset manager’s stock valued at $83,000 after acquiring an additional 117 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Northern Trust by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager’s stock worth $3,608,000 after acquiring an additional 120 shares during the period. Mesirow Financial Investment Management Inc. boosted its position in Northern Trust by 0.4% in the third 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 stake in Northern Trust by 1.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager’s stock valued at $889,000 after purchasing an additional 131 shares during the period. Institutional investors own 83.19% of the company’s stock.

Northern Trust Trading Up 1.5 %

Shares of NTRS stock traded up $1.64 during mid-day trading on Friday, reaching $107.60. The stock had a trading volume of 1,955,051 shares, compared to its average volume of 1,302,822. The firm has a market capitalization of $21.33 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.20 and a beta of 1.06. The stock’s 50-day moving average price is $95.68 and its two-hundred day moving average price is $88.86. 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 52-week low of $73.98 and a 52-week high of $108.53.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be paid 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 2.79%. Northern Trust’s payout ratio is 37.31%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NTRS. Evercore ISI increased their price target 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. Bank of America lifted their price objective 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. Wells Fargo & Company increased their target price on Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday. Barclays upped their price objective on Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Finally, UBS Group raised their price objective on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $100.67.

Insider Activity at Northern Trust

In other news, COO Peter Cherecwich sold 16,153 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $105.18, 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 of the company’s stock, valued at $462,476.46. The trade was a 78.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark C. Gossett sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the transaction, the executive vice president now directly owns 28,707 shares in the company, valued at $2,552,052.30. The trade was a 17.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,906 shares of company stock valued at $8,176,652 in the last three months. Company 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.