Northern Trust Co. (NASDAQ:NTRS) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 67.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 403,990 shares of the asset manager’s stock after purchasing an additional 162,623 shares during the quarter. Victory Capital Management Inc.’s holdings in Northern Trust were worth $36,371,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NTRS. Olistico Wealth LLC acquired a new position in shares of Northern Trust during the second quarter worth about $25,000. Innealta Capital LLC purchased a new stake in shares of Northern Trust in the 2nd quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new stake in shares of Northern Trust during the 2nd quarter worth $30,000. Northwest Investment Counselors LLC acquired a new position in shares of Northern Trust during the third quarter worth $39,000. Finally, Versant Capital Management Inc increased its holdings in Northern Trust by 343.9% in the second quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after buying an additional 337 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Trading Up 1.5 %

NASDAQ:NTRS opened at $107.60 on Friday. Northern Trust Co. has a 12-month low of $73.98 and a 12-month high of $108.53. 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 stock’s 50 day simple moving average is $95.68 and its 200-day simple moving average is $88.86. The firm has a market cap of $21.33 billion, a P/E ratio of 13.38, a PEG ratio of 1.20 and a beta of 1.06.

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 paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is presently 37.31%.

Insider Activity

In related news, Director Charles A. Tribbett sold 1,855 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at $88,120. This represents a 64.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark C. Gossett sold 6,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the sale, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. This trade represents a 17.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 80,906 shares of company stock valued at $8,176,652 over the last quarter. Corporate insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NTRS shares. Morgan Stanley increased their price objective on Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Wells Fargo & Company raised their price objective on shares of Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday. UBS Group upped their target price on shares of Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Evercore ISI boosted 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. Finally, Bank of America raised their price objective on Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.