Vinva Investment Management Ltd Boosts Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Vinva Investment Management Ltd raised its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 143.2% in the third quarter, Holdings Channel reports. The institutional investor owned 16,379 shares of the asset manager’s stock after buying an additional 9,644 shares during the quarter. Vinva Investment Management Ltd’s holdings in Northern Trust were worth $1,475,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Northern Trust by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,577,091 shares of the asset manager’s stock valued at $141,986,000 after acquiring an additional 16,500 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Northern Trust by 1.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 35,191 shares of the asset manager’s stock valued at $3,168,000 after acquiring an additional 400 shares during the last quarter. Bridgewater Associates LP grew its position in Northern Trust by 294.2% in the 3rd quarter. Bridgewater Associates LP now owns 18,648 shares of the asset manager’s stock worth $1,679,000 after purchasing an additional 13,918 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Northern Trust by 0.9% in the third quarter. BNP Paribas Financial Markets now owns 257,997 shares of the asset manager’s stock worth $23,227,000 after acquiring an additional 2,283 shares during the period. Finally, FMR LLC increased its position in shares of Northern Trust by 9.3% during the 3rd quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock valued at $1,637,435,000 after purchasing an additional 1,542,685 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on NTRS. Deutsche Bank Aktiengesellschaft boosted their price target on Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a report on Monday, November 11th. Barclays upped their target price on shares of Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Wells Fargo & Company raised their price target on Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. Evercore ISI upped their price objective on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada increased their target price on Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and an average target price of $100.67.

Northern Trust Stock Up 0.5 %

NASDAQ NTRS opened at $111.16 on Friday. The stock has a 50 day moving average price of $99.73 and a 200-day moving average price of $90.59. Northern Trust Co. has a one year low of $76.67 and a one year high of $111.87. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $22.03 billion, a P/E ratio of 13.83, a P/E/G ratio of 1.24 and a beta of 1.06.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is presently 37.31%.

Insider Transactions at Northern Trust

In other Northern Trust news, COO Peter Cherecwich sold 16,153 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now owns 4,397 shares of the company’s stock, valued at approximately $462,476.46. This trade represents a 78.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thomas A. South sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $105.80, for a total transaction of $529,000.00. Following the completion of the sale, the executive vice president now directly owns 49,756 shares of the company’s stock, valued at $5,264,184.80. The trade was a 9.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,906 shares of company stock worth $7,643,252. Insiders own 0.64% of the company’s stock.

Northern Trust 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.