Sumitomo Mitsui Trust Group Inc. Has $40.76 Million Stake in Northern Trust Co. (NASDAQ:NTRS)

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 452,702 shares of the asset manager’s stock after purchasing an additional 10,202 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Northern Trust were worth $40,757,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling

In related news, Director Charles A. Tribbett sold 1,855 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was 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 in the company, valued at $88,120. The trade was a 64.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Peter Cherecwich sold 16,153 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $105.18, for a total value of $1,698,972.54. Following the completion of the transaction, the chief operating officer now directly owns 4,397 shares of the company’s stock, valued at approximately $462,476.46. This trade represents a 78.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,906 shares of company stock valued at $8,176,652. 0.64% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Evercore ISI increased their price objective on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Wells Fargo & Company increased their price target on shares of Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Friday. UBS Group lifted their price objective on shares of Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Royal Bank of Canada increased their target price on shares of Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Barclays boosted their price target on Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Northern Trust currently has an average rating of “Hold” and a consensus target price of $100.67.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $107.60 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average price of $95.26 and a 200 day moving average price of $88.69. The company has a market cap of $21.33 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.20 and a beta of 1.06. Northern Trust Co. has a twelve month low of $73.98 and a twelve month high of $108.53.

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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.79%. Northern Trust’s payout ratio is 37.31%.

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.