Curi RMB Capital LLC Trims Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Curi RMB Capital LLC trimmed its position in Northern Trust Co. (NASDAQ:NTRS) by 8.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,688 shares of the asset manager’s stock after selling 885 shares during the period. Curi RMB Capital LLC’s holdings in Northern Trust were worth $872,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its stake in shares of Northern Trust by 103.6% in the first quarter. Empowered Funds LLC now owns 4,987 shares of the asset manager’s stock worth $443,000 after acquiring an additional 2,537 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Northern Trust by 15.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 246,319 shares of the asset manager’s stock worth $21,903,000 after acquiring an additional 32,534 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Northern Trust by 4.3% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 119,389 shares of the asset manager’s stock worth $10,610,000 after acquiring an additional 4,955 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Northern Trust by 1,891.1% in the first quarter. Intech Investment Management LLC now owns 56,845 shares of the asset manager’s stock worth $5,055,000 after acquiring an additional 53,990 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Northern Trust by 4,646.7% in the first quarter. Acadian Asset Management LLC now owns 29,097 shares of the asset manager’s stock worth $2,585,000 after acquiring an additional 28,484 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Stock Up 1.5 %

NTRS stock opened at $107.60 on Friday. Northern Trust Co. has a fifty-two week low of $73.98 and a fifty-two week high of $108.53. The business’s 50-day moving average is $95.26 and its two-hundred day moving average is $88.69. 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 company has a market cap of $21.33 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 1.20 and a beta of 1.06.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is currently 37.31%.

Insider Transactions at Northern Trust

In other news, EVP Mark C. Gossett sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total value of $533,400.00. Following the transaction, the executive vice president now owns 28,707 shares of the company’s stock, valued at $2,552,052.30. This trade represents a 17.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $100.50, for a total value of $2,801,337.00. Following the completion of the transaction, the insider now directly owns 46,078 shares in the company, valued at $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 80,906 shares of company stock valued at $8,176,652 over the last quarter. 0.64% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NTRS shares. StockNews.com raised Northern Trust from a “hold” rating to a “buy” rating in a research note on Tuesday. Morgan Stanley increased their price objective on Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Bank of America increased their price objective on Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Evercore ISI increased their price objective on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada increased their price objective on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $100.67.

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.