Amalgamated Bank Trims Position in Northern Trust Co. (NASDAQ:NTRS)

Amalgamated Bank cut its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,773 shares of the asset manager’s stock after selling 909 shares during the period. Amalgamated Bank’s holdings in Northern Trust were worth $4,284,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in NTRS. Cambridge Investment Research Advisors Inc. boosted its holdings in Northern Trust by 1.3% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 14,841 shares of the asset manager’s stock worth $1,031,000 after acquiring an additional 192 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Northern Trust by 7.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 16,197 shares of the asset manager’s stock valued at $1,125,000 after acquiring an additional 1,076 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Northern Trust by 29.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 86,214 shares of the asset manager’s stock valued at $5,990,000 after acquiring an additional 19,427 shares during the period. Mackenzie Financial Corp lifted its holdings in Northern Trust by 2.4% in the third quarter. Mackenzie Financial Corp now owns 26,004 shares of the asset manager’s stock valued at $1,738,000 after acquiring an additional 616 shares during the period. Finally, IFM Investors Pty Ltd lifted its holdings in Northern Trust by 30.9% in the third quarter. IFM Investors Pty Ltd now owns 49,889 shares of the asset manager’s stock valued at $3,466,000 after acquiring an additional 11,791 shares during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Northern Trust

In other Northern Trust news, insider Steven L. Fradkin sold 30,392 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total transaction of $2,434,703.12. Following the sale, the insider now owns 55,707 shares in the company, valued at approximately $4,462,687.77. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Steven L. Fradkin sold 4,097 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total value of $338,248.32. Following the transaction, the insider now directly owns 46,078 shares in the company, valued at $3,804,199.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven L. Fradkin sold 30,392 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total transaction of $2,434,703.12. Following the completion of the sale, the insider now owns 55,707 shares in the company, valued at $4,462,687.77. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by corporate insiders.

Northern Trust Trading Up 1.1 %

NTRS opened at $85.62 on Thursday. The firm has a market cap of $17.52 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 1.21 and a beta of 1.13. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Northern Trust Co. has a 12 month low of $62.44 and a 12 month high of $89.25. The stock has a fifty day moving average price of $84.12 and a 200-day moving average price of $80.50.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Friday, June 7th. Northern Trust’s payout ratio is 66.23%.

Analysts Set New Price Targets

A number of research firms have weighed in on NTRS. Morgan Stanley reissued an “underweight” rating and issued a $86.00 target price (up previously from $82.00) on shares of Northern Trust in a report on Tuesday, January 30th. Jefferies Financial Group raised their price objective on Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Evercore ISI raised their price objective on Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Bank of America raised their price objective on Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada raised their price objective on Northern Trust from $82.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $84.92.

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.