Prana Capital Management LP Lowers Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Prana Capital Management LP reduced its position in Northern Trust Co. (NASDAQ:NTRS) by 8.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 141,244 shares of the asset manager’s stock after selling 12,696 shares during the quarter. Prana Capital Management LP’s holdings in Northern Trust were worth $12,716,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale lifted its stake in shares of Northern Trust by 8.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 43,593 shares of the asset manager’s stock valued at $3,838,000 after purchasing an additional 3,285 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Northern Trust by 39.1% in the 2nd quarter. GAMMA Investing LLC now owns 2,892 shares of the asset manager’s stock valued at $243,000 after acquiring an additional 813 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in Northern Trust by 23.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 805 shares of the asset manager’s stock worth $68,000 after purchasing an additional 151 shares during the period. DNB Asset Management AS increased its holdings in Northern Trust by 4.8% in the 2nd quarter. DNB Asset Management AS now owns 35,255 shares of the asset manager’s stock valued at $2,961,000 after purchasing an additional 1,625 shares in the last quarter. Finally, CWM LLC raised its position in Northern Trust by 45.7% in the second quarter. CWM LLC now owns 9,663 shares of the asset manager’s stock valued at $812,000 after purchasing an additional 3,032 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Stock Down 0.5 %

Shares of NASDAQ:NTRS opened at $109.34 on Wednesday. Northern Trust Co. has a 1-year low of $76.67 and a 1-year high of $111.87. The company’s fifty day moving average is $100.46 and its two-hundred day moving average is $90.98. 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 stock has a market capitalization of $21.67 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 1.24 and a beta of 1.07.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.74%. Northern Trust’s dividend payout ratio is currently 37.31%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Royal Bank of Canada lifted their price objective on shares of Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Evercore ISI raised their price target on shares of Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Barclays boosted their price objective 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. Finally, The Goldman Sachs Group lowered Northern Trust from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $84.00 to $82.00 in a research report on Thursday, September 26th. Three investment 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 currently has an average rating of “Hold” and a consensus target price of $103.00.

Insider Buying and Selling at Northern Trust

In related news, Vice Chairman Steven L. Fradkin sold 9,100 shares of Northern Trust stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $111.00, for a total value of $1,010,100.00. Following the sale, the insider now directly owns 47,797 shares in the company, valued at $5,305,467. This trade represents a 15.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles A. Tribbett sold 1,855 shares of the business’s stock in a transaction dated 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 $88,120. The trade was a 64.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,006 shares of company stock worth $8,653,352 over the last ninety days. Company 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.