Mackenzie Financial Corp Sells 3,624 Shares of Northern Trust Co. (NASDAQ:NTRS)

Mackenzie Financial Corp trimmed its holdings in Northern Trust Co. (NASDAQ:NTRS) by 13.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,380 shares of the asset manager’s stock after selling 3,624 shares during the period. Mackenzie Financial Corp’s holdings in Northern Trust were worth $1,888,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Ballast Inc. grew its position in Northern Trust by 1.1% in the 4th quarter. Ballast Inc. now owns 12,208 shares of the asset manager’s stock worth $1,030,000 after purchasing an additional 136 shares during the last quarter. Diversified Trust Co grew its position in Northern Trust by 1.9% in the 4th quarter. Diversified Trust Co now owns 8,531 shares of the asset manager’s stock worth $720,000 after purchasing an additional 156 shares during the last quarter. Quent Capital LLC grew its position in Northern Trust by 77.8% in the 4th quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after purchasing an additional 158 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its position in Northern Trust by 33.5% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 654 shares of the asset manager’s stock worth $55,000 after purchasing an additional 164 shares during the last quarter. Finally, Smith Salley & Associates lifted its holdings in shares of Northern Trust by 2.9% during the 4th quarter. Smith Salley & Associates now owns 6,001 shares of the asset manager’s stock worth $506,000 after acquiring an additional 167 shares during the period. 83.19% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Northern Trust news, insider Steven L. Fradkin sold 30,392 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total value of $2,434,703.12. Following the completion of the transaction, the insider now directly owns 55,707 shares of the company’s stock, valued at $4,462,687.77. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on NTRS shares. Morgan Stanley reaffirmed an “underweight” rating and set a $86.00 price objective (up from $82.00) on shares of Northern Trust in a report on Tuesday, January 30th. UBS Group raised their price objective on shares of Northern Trust from $72.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Wolfe Research downgraded shares of Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 price objective for the company. in a report on Wednesday, January 3rd. Barclays raised their price objective on shares of Northern Trust from $90.00 to $98.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Finally, TheStreet raised shares of Northern Trust from a “c+” rating to a “b-” rating in a report on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $84.92.

Northern Trust Trading Up 0.8 %

Shares of NASDAQ NTRS opened at $84.18 on Wednesday. Northern Trust Co. has a 1-year low of $62.44 and a 1-year high of $89.25. The company has a market cap of $17.17 billion, a PE ratio of 18.58, a P/E/G ratio of 1.17 and a beta of 1.13. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average of $83.44 and a two-hundred day moving average of $79.34.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Friday, June 7th. Northern Trust’s dividend payout ratio is presently 66.23%.

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.