Eastern Bank Buys Shares of 562 Northern Trust Co. (NASDAQ:NTRS)

Eastern Bank bought a new stake in Northern Trust Co. (NASDAQ:NTRS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 562 shares of the asset manager’s stock, valued at approximately $51,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Olistico Wealth LLC acquired a new position in shares of Northern Trust in the 2nd quarter worth approximately $25,000. Innealta Capital LLC acquired a new position in shares of Northern Trust in the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new position in shares of Northern Trust in the 2nd quarter worth approximately $30,000. Versant Capital Management Inc lifted its holdings in shares of Northern Trust by 343.9% in the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock worth $37,000 after acquiring an additional 337 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Northern Trust in the 3rd quarter worth approximately $39,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Northern Trust

In related news, EVP Mark C. Gossett sold 6,000 shares of the 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 transaction, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at $2,552,052.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $88,120. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark C. Gossett sold 6,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total transaction of $533,400.00. Following 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,738 shares of company stock valued at $1,191,388 in the last ninety days. Insiders own 0.64% of the company’s stock.

Northern Trust Trading Down 2.5 %

NASDAQ NTRS opened at $100.19 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The firm’s fifty day moving average price is $91.10 and its 200 day moving average price is $86.73. The company has a market capitalization of $20.50 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.65 and a beta of 1.08. Northern Trust Co. has a 12 month low of $63.43 and a 12 month high of $104.25.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is 66.23%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. UBS Group increased their target price on shares of Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Royal Bank of Canada increased their target price on shares of Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday. Evercore ISI increased their target price on shares of Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” 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 report on Thursday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $99.33.

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.