Monarch Capital Management Inc. Sells 300 Shares of Northern Trust Co. (NASDAQ:NTRS)

Monarch Capital Management Inc. cut its stake in Northern Trust Co. (NASDAQ:NTRS) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,357 shares of the asset manager’s stock after selling 300 shares during the quarter. Monarch Capital Management Inc.’s holdings in Northern Trust were worth $760,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Allworth Financial LP increased its stake in 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 purchasing an additional 98 shares in the last quarter. Pallas Capital Advisors LLC increased its position in shares of Northern Trust by 1.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 6,091 shares of the asset manager’s stock valued at $624,000 after buying an additional 107 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in Northern Trust by 14.5% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the asset manager’s stock worth $83,000 after buying an additional 117 shares during the period. Mesirow Financial Investment Management Inc. lifted its holdings in Northern Trust by 0.4% during the third quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager’s stock worth $3,212,000 after acquiring an additional 127 shares in the last quarter. Finally, Brooklyn Investment Group grew its stake in Northern Trust by 51.2% in the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 128 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Northern Trust

In other news, Vice Chairman Steven L. Fradkin sold 9,100 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $111.00, for a total value of $1,010,100.00. Following the sale, the insider now directly owns 47,797 shares of the company’s stock, valued at approximately $5,305,467. This represents a 15.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Teresa Parker sold 4,439 shares of Northern Trust stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $100.86, for a total value of $447,717.54. Following the transaction, the insider now owns 79,326 shares of the company’s stock, valued at $8,000,820.36. The trade was a 5.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,151 shares of company stock valued at $8,489,889. 0.64% of the stock is owned by corporate insiders.

Northern Trust Stock Performance

NTRS opened at $106.87 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The business’s 50-day simple moving average is $105.73 and its 200 day simple moving average is $95.73. The firm has a market capitalization of $21.18 billion, a PE ratio of 13.29, a PEG ratio of 1.06 and a beta of 1.08. Northern Trust Co. has a 52-week low of $76.67 and a 52-week high of $111.87.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Friday, December 6th. Northern Trust’s payout ratio is presently 37.31%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays lifted their price objective on Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Evercore ISI upped their price target on shares of Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Morgan Stanley dropped their price objective on shares of Northern Trust from $127.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday, January 3rd. The Goldman Sachs Group lowered shares of Northern Trust from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $84.00 to $82.00 in a research note on Thursday, September 26th. Finally, Bank of America increased their target price on Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $107.17.

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.