Mackenzie Financial Corp Has $1.89 Million Stake in Northern Trust Co. (NASDAQ:NTRS)

Mackenzie Financial Corp trimmed its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 13.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,380 shares of the asset manager’s stock after selling 3,624 shares during the period. Mackenzie Financial Corp’s holdings in Northern Trust were worth $1,888,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Deutsche Bank AG grew its stake in Northern Trust by 8.1% during the third quarter. Deutsche Bank AG now owns 597,143 shares of the asset manager’s stock worth $41,489,000 after buying an additional 44,516 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. lifted its holdings in shares of Northern Trust by 51.3% in the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 70,384 shares of the asset manager’s stock worth $5,939,000 after acquiring an additional 23,859 shares during the last quarter. HB Wealth Management LLC bought a new position in shares of Northern Trust in the fourth quarter worth about $227,000. Nordea Investment Management AB lifted its holdings in shares of Northern Trust by 2.4% in the third quarter. Nordea Investment Management AB now owns 12,962 shares of the asset manager’s stock worth $907,000 after acquiring an additional 305 shares during the last quarter. Finally, Pathstone Family Office LLC bought a new position in shares of Northern Trust in the third quarter worth about $715,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on NTRS shares. Barclays increased their target price on shares of Northern Trust from $90.00 to $98.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. UBS Group increased their target price on shares of Northern Trust from $72.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Jefferies Financial Group raised their price objective on shares of Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Morgan Stanley reiterated an “underweight” rating and issued a $86.00 price objective (up previously from $82.00) on shares of Northern Trust in a report on Tuesday, January 30th. Finally, Wolfe Research lowered shares of Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 price objective for the company. in a report on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $84.92.

Insiders Place Their Bets

In other Northern Trust news, insider Steven L. Fradkin sold 30,392 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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. Company insiders own 0.64% of the company’s stock.

Northern Trust Stock Up 0.8 %

Northern Trust stock opened at $84.18 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust Co. has a 52-week low of $62.44 and a 52-week high of $89.25. The firm has a 50 day moving average price of $83.44 and a two-hundred day moving average price of $79.34. The firm has a market cap of $17.17 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.17 and a beta of 1.13.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, June 7th. This represents a $3.00 annualized dividend and a yield of 3.56%. Northern Trust’s payout ratio is 66.23%.

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.