Gamco Investors INC. ET AL Decreases Position in Northern Trust Corporation $NTRS

Gamco Investors INC. ET AL trimmed its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 8.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 148,747 shares of the asset manager’s stock after selling 14,351 shares during the period. Gamco Investors INC. ET AL’s holdings in Northern Trust were worth $20,761,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Reflection Asset Management purchased a new position in shares of Northern Trust in the fourth quarter worth about $25,000. Triumph Capital Management purchased a new stake in Northern Trust during the 3rd quarter valued at about $25,000. Elyxium Wealth LLC purchased a new stake in Northern Trust during the 4th quarter valued at about $34,000. International Assets Investment Management LLC bought a new position in Northern Trust during the 4th quarter worth approximately $35,000. Finally, Transamerica Financial Advisors LLC increased its stake in Northern Trust by 54.1% in the 4th quarter. Transamerica Financial Advisors LLC now owns 265 shares of the asset manager’s stock worth $36,000 after purchasing an additional 93 shares during the period. 83.19% of the stock is owned by institutional investors.

Insider Activity at Northern Trust

In related news, CFO David W. Fox, Jr. sold 19,987 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total value of $3,321,039.92. Following the completion of the sale, the chief financial officer owned 18,588 shares of the company’s stock, valued at $3,088,582.08. This trade represents a 51.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Edward Jr. Moritz purchased 225 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was bought at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the acquisition, the director owned 8,145 shares of the company’s stock, valued at $1,355,409.45. This represents a 2.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.66% of the stock is currently owned by insiders.

Northern Trust Stock Up 1.4%

Shares of NASDAQ:NTRS opened at $180.52 on Friday. The stock’s 50-day moving average is $174.80 and its 200 day moving average is $157.87. The company has a market cap of $33.41 billion, a PE ratio of 15.50, a P/E/G ratio of 1.13 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.62. Northern Trust Corporation has a 1 year low of $121.12 and a 1 year high of $191.60.

Northern Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be given a $0.88 dividend. The ex-dividend date is Friday, September 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s dividend payout ratio is 27.47%.

Analyst Ratings Changes

NTRS has been the subject of several recent research reports. UBS Group set a $186.00 price objective on Northern Trust in a research report on Friday, June 26th. The Goldman Sachs Group raised their target price on shares of Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. Zacks Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Citigroup upped their price target on shares of Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. Finally, Bank of America increased their price target on shares of Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $180.25.

Northern Trust Company Profile

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.