Northern Trust Co. (NTRS) Shares Sold by Gabelli Funds LLC
Gabelli Funds LLC lessened its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 7.1% in the 4th quarter, Holdings Channel reports. The firm owned 114,500 shares of the asset manager’s stock after selling 8,700 shares during the period. Gabelli Funds LLC’s holdings in Northern Trust were worth $11,437,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Field & Main Bank acquired a new stake in Northern Trust in the 4th quarter valued at about $100,000. Cerebellum GP LLC acquired a new stake in Northern Trust in the 4th quarter valued at about $132,000. MPS Loria Financial Planners LLC acquired a new stake in Northern Trust in the 2nd quarter valued at about $134,000. Hollencrest Capital Management acquired a new stake in Northern Trust in the 4th quarter valued at about $210,000. Finally, Cetera Investment Advisers acquired a new stake in Northern Trust in the 2nd quarter valued at about $205,000. Institutional investors own 81.31% of the company’s stock.
Shares of Northern Trust Co. (NASDAQ:NTRS) opened at $97.38 on Friday. Northern Trust Co. has a one year low of $83.17 and a one year high of $108.91. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.35. The firm has a market cap of $21,877.91, a P/E ratio of 19.96, a PEG ratio of 1.28 and a beta of 0.99.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, March 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.73%. Northern Trust’s payout ratio is currently 34.15%.
A number of analysts have commented on NTRS shares. Credit Suisse Group increased their price objective on shares of Northern Trust from $99.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Morgan Stanley increased their price objective on shares of Northern Trust from $104.00 to $110.00 and gave the company an “underweight” rating in a report on Friday, February 2nd. Bank of America increased their price objective on shares of Northern Trust from $112.00 to $116.00 and gave the company a “buy” rating in a report on Thursday, January 25th. UBS Group increased their price objective on shares of Northern Trust from $100.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Finally, BidaskClub upgraded shares of Northern Trust from a “hold” rating to a “buy” rating in a report on Saturday, January 13th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Northern Trust presently has a consensus rating of “Hold” and an average price target of $104.81.
In related news, Vice Chairman William L. Morrison sold 30,000 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $96.48, for a total transaction of $2,894,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frederick H. Waddell sold 44,658 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $97.95, for a total transaction of $4,374,251.10. The disclosure for this sale can be found here. Insiders have sold a total of 186,673 shares of company stock valued at $18,723,553 in the last ninety days. 1.27% of the stock is currently owned by corporate insiders.
Northern Trust Profile
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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