MetLife Investment Management LLC Sells 2,138 Shares of Northern Trust Co. (NASDAQ:NTRS)

MetLife Investment Management LLC lessened its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,387 shares of the asset manager’s stock after selling 2,138 shares during the period. MetLife Investment Management LLC’s holdings in Northern Trust were worth $4,716,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Olistico Wealth LLC bought a new position in shares of Northern Trust during the second quarter valued at approximately $25,000. Innealta Capital LLC bought a new position in Northern Trust in the 2nd quarter worth $26,000. Ridgewood Investments LLC purchased a new stake in shares of Northern Trust in the 2nd quarter worth about $30,000. Northwest Investment Counselors LLC bought a new stake in shares of Northern Trust during the 3rd quarter valued at about $39,000. Finally, Versant Capital Management Inc increased its position in shares of Northern Trust by 343.9% during the second quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after buying an additional 337 shares during the period. Institutional investors own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NTRS. Royal Bank of Canada raised their price objective on shares of Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lifted their price target on Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a research report on Monday, November 11th. The Goldman Sachs Group lowered Northern Trust from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. Morgan Stanley upped their target price on shares of Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Finally, Evercore ISI lifted their price target on shares of Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Northern Trust presently has a consensus rating of “Hold” and an average target price of $100.67.

Northern Trust Trading Up 0.5 %

NASDAQ:NTRS opened at $111.16 on Monday. The stock has a market cap of $22.03 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.25 and a beta of 1.06. 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 company’s 50 day moving average price is $99.73 and its 200-day moving average price is $90.65. Northern Trust Co. has a 52 week low of $76.67 and a 52 week high of $111.87.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders 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 2.70%. The ex-dividend date is Friday, December 6th. Northern Trust’s payout ratio is 37.31%.

Insider Transactions at Northern Trust

In other news, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the transaction, the director now directly owns 1,000 shares in the company, valued at $88,120. This trade represents a 64.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Peter Cherecwich sold 16,153 shares of Northern Trust stock in a transaction on 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 completion of the sale, the chief operating officer now directly owns 4,397 shares of the company’s stock, valued at $462,476.46. The trade was a 78.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,906 shares of company stock worth $7,643,252 over the last quarter. 0.64% of the stock is currently owned by insiders.

Northern Trust 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.