Dai ichi Life Insurance Company Ltd Sells 44,000 Shares of Northern Trust Co. (NASDAQ:NTRS)

Dai ichi Life Insurance Company Ltd reduced its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 85.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,407 shares of the asset manager’s stock after selling 44,000 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Northern Trust were worth $667,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in shares of Northern Trust by 9.1% in the third quarter. Allworth Financial LP now owns 1,170 shares of the asset manager’s stock valued at $105,000 after acquiring an additional 98 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in Northern Trust by 14.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the asset manager’s stock valued at $83,000 after purchasing an additional 117 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Northern Trust by 0.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager’s stock worth $3,608,000 after purchasing an additional 120 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its position in shares of Northern Trust by 0.4% in the third quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager’s stock valued at $3,212,000 after buying an additional 127 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Northern Trust by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager’s stock valued at $889,000 after buying an additional 131 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Northern Trust

In related news, EVP Thomas A. South sold 5,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $105.80, for a total value of $529,000.00. Following the completion of the sale, the executive vice president now directly owns 49,756 shares in the company, valued at $5,264,184.80. This represents a 9.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Peter Cherecwich sold 16,153 shares of Northern Trust stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $105.18, for a total value of $1,698,972.54. Following the transaction, the chief operating officer now directly owns 4,397 shares in the company, valued at $462,476.46. The trade was a 78.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,906 shares of company stock worth $7,643,252 in the last quarter. 0.64% of the stock is owned by insiders.

Northern Trust Price Performance

Shares of NTRS opened at $110.59 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 stock has a market cap of $21.92 billion, a PE 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. The business has a 50-day simple moving average of $99.35 and a two-hundred day simple moving average of $90.41.

Northern Trust Dividend Announcement

The company 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 2.71%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s dividend payout ratio is currently 37.31%.

Wall Street Analyst Weigh In

NTRS has been the topic of a number of recent research reports. UBS Group raised their price objective on Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Barclays boosted their price target on Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Evercore ISI increased their price objective on shares of Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Wells Fargo & Company raised their target price on shares of Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. Finally, StockNews.com lowered shares of Northern Trust from a “buy” rating to a “hold” rating in a research report on Wednesday. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Northern Trust currently has an average rating of “Hold” and a consensus target price of $100.67.

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.