Citigroup Inc. Sells 9,191 Shares of Northern Trust Co. (NASDAQ:NTRS)

Citigroup Inc. lowered its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 6.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 137,346 shares of the asset manager’s stock after selling 9,191 shares during the period. Citigroup Inc.’s holdings in Northern Trust were worth $12,365,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Swedbank AB bought a new position in shares of Northern Trust during the 1st quarter valued at approximately $1,407,000. Tidal Investments LLC increased its position in Northern Trust by 141.3% in the first quarter. Tidal Investments LLC now owns 13,771 shares of the asset manager’s stock worth $1,224,000 after buying an additional 8,063 shares during the last quarter. M&G Plc bought a new stake in shares of Northern Trust in the second quarter valued at $971,000. Williams Financial LLC purchased a new position in shares of Northern Trust during the 2nd quarter valued at $1,322,000. Finally, Diversified Trust Co grew its stake in shares of Northern Trust by 47.5% during the 2nd quarter. Diversified Trust Co now owns 24,942 shares of the asset manager’s stock worth $2,095,000 after acquiring an additional 8,028 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

NTRS has been the topic of a number of research reports. StockNews.com cut Northern Trust from a “buy” rating to a “hold” rating in a research note on Wednesday. The Goldman Sachs Group cut shares of Northern Trust from a “neutral” rating to a “sell” rating and dropped their price target for the company from $84.00 to $82.00 in a research note on Thursday, September 26th. Royal Bank of Canada lifted their price objective on shares of Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Evercore ISI increased their target price on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Finally, Morgan Stanley lifted their price target on Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $100.67.

Insider Activity

In other news, Director Charles A. Tribbett sold 1,855 shares of the 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 approximately $88,120. This represents a 64.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 46,078 shares of the company’s stock, valued at $4,630,839. The trade was a 37.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,906 shares of company stock worth $7,643,252. 0.64% of the stock is currently owned by corporate insiders.

Northern Trust Stock Down 0.1 %

Shares of NASDAQ NTRS opened at $110.59 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average of $99.35 and a 200-day moving average of $90.41. The firm has a market capitalization of $21.92 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.24 and a beta of 1.06. Northern Trust Co. has a 12 month low of $75.70 and a 12 month high of $111.57.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Friday, December 6th. Northern Trust’s payout ratio is 37.31%.

Northern Trust Company Profile

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.