Dai ichi Life Insurance Company Ltd Has $667,000 Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Dai ichi Life Insurance Company Ltd lowered its stake in Northern Trust Co. (NASDAQ:NTRS) by 85.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,407 shares of the asset manager’s stock after selling 44,000 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Northern Trust were worth $667,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Qsemble Capital Management LP bought a new position in Northern Trust during the 3rd quarter worth approximately $920,000. Bank of Montreal Can boosted its position in shares of Northern Trust by 34.9% during the third quarter. Bank of Montreal Can now owns 283,690 shares of the asset manager’s stock worth $25,552,000 after purchasing an additional 73,327 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Northern Trust in the 3rd quarter valued at $1,424,000. Daiwa Securities Group Inc. increased its position in shares of Northern Trust by 11.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 24,668 shares of the asset manager’s stock valued at $2,221,000 after buying an additional 2,474 shares in the last quarter. Finally, Pitcairn Co. raised its stake in Northern Trust by 122.4% during the 3rd quarter. Pitcairn Co. now owns 15,951 shares of the asset manager’s stock worth $1,436,000 after buying an additional 8,780 shares during the period. 83.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Royal Bank of Canada boosted their target price on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a research report on Monday, November 11th. UBS Group lifted their price target on shares of Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group cut shares of Northern Trust from a “neutral” rating to a “sell” rating and reduced their price target for the company from $84.00 to $82.00 in a report on Thursday, September 26th. Finally, Evercore ISI raised their price objective on shares of Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and a consensus price target of $100.67.

Insider Transactions at Northern Trust

In other news, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $88,120. The trade was a 64.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $100.50, for a total value of $2,801,337.00. Following the completion of the sale, the insider now owns 46,078 shares in the company, valued at approximately $4,630,839. This trade represents a 37.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,906 shares of company stock worth $7,643,252 in the last ninety days. Insiders own 0.64% of the company’s stock.

Northern Trust Trading Down 0.1 %

NASDAQ NTRS opened at $110.59 on Friday. Northern Trust Co. has a 12 month low of $75.70 and a 12 month high of $111.57. 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 has a 50 day moving average of $99.35 and a 200-day moving average of $90.41. The company has a market cap of $21.92 billion, a PE ratio of 13.75, a PEG ratio of 1.24 and a beta of 1.06.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders 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 2.71%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is presently 37.31%.

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.