Amalgamated Bank Sells 909 Shares of Northern Trust Co. (NASDAQ:NTRS)

Amalgamated Bank decreased its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 1.8% in the 4th quarter, Holdings Channel reports. The firm owned 50,773 shares of the asset manager’s stock after selling 909 shares during the period. Amalgamated Bank’s holdings in Northern Trust were worth $4,284,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. FMR LLC grew its holdings in shares of Northern Trust by 1.2% during the third quarter. FMR LLC now owns 10,791,735 shares of the asset manager’s stock worth $749,810,000 after purchasing an additional 126,172 shares in the last quarter. Primecap Management Co. CA boosted its stake in Northern Trust by 4.2% in the third quarter. Primecap Management Co. CA now owns 6,497,047 shares of the asset manager’s stock worth $451,415,000 after buying an additional 264,805 shares in the last quarter. Northern Trust Corp boosted its stake in Northern Trust by 1.5% in the third quarter. Northern Trust Corp now owns 5,955,048 shares of the asset manager’s stock worth $413,757,000 after buying an additional 89,696 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Northern Trust by 1.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,980,072 shares of the asset manager’s stock worth $346,015,000 after buying an additional 64,707 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Northern Trust by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,486,840 shares of the asset manager’s stock worth $311,746,000 after buying an additional 119,484 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

NTRS has been the subject of several research reports. Morgan Stanley reaffirmed an “underweight” rating and issued a $86.00 target price (up previously from $82.00) on shares of Northern Trust in a research note on Tuesday, January 30th. Jefferies Financial Group upped their target price on Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Bank of America increased their price objective on Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Royal Bank of Canada increased their price objective on Northern Trust from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, Evercore ISI increased their price objective on Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $84.92.

Northern Trust Price Performance

Shares of Northern Trust stock opened at $85.62 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The company has a market cap of $17.52 billion, a PE ratio of 18.90, a P/E/G ratio of 1.21 and a beta of 1.13. The business has a 50 day moving average of $84.12 and a 200 day moving average of $80.50. Northern Trust Co. has a 52 week low of $62.44 and a 52 week high of $89.25.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a $0.75 dividend. The ex-dividend date is Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a yield of 3.50%. Northern Trust’s dividend payout ratio (DPR) is 66.23%.

Insider Activity

In other news, insider Steven L. Fradkin sold 30,392 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was 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 directly owns 55,707 shares in the company, valued at $4,462,687.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Northern Trust news, insider Steven L. Fradkin sold 4,097 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total value of $338,248.32. Following the transaction, the insider now directly owns 46,078 shares of the company’s stock, valued at $3,804,199.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven L. Fradkin sold 30,392 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total value of $2,434,703.12. Following the completion of the transaction, the insider now directly owns 55,707 shares in the company, valued at $4,462,687.77. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.

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.