Peter Cherecwich Sells 16,153 Shares of Northern Trust Co. (NASDAQ:NTRS) Stock

Northern Trust Co. (NASDAQ:NTRS) COO Peter Cherecwich sold 16,153 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the transaction, the chief operating officer now owns 4,397 shares of the company’s stock, valued at approximately $462,476.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $105.18 on Friday. The firm has a 50 day moving average of $93.94 and a 200-day moving average of $88.06. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a 1 year low of $68.97 and a 1 year high of $108.53. The stock has a market capitalization of $20.85 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be issued a $0.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.85%. Northern Trust’s dividend payout ratio is 37.31%.

Hedge Funds Weigh In On Northern Trust

Large investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its stake in shares of Northern Trust by 13.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock valued at $622,596,000 after buying an additional 850,556 shares during the period. Primecap Management Co. CA grew its position in shares of Northern Trust by 0.5% during the 3rd quarter. Primecap Management Co. CA now owns 7,085,117 shares of the asset manager’s stock worth $637,873,000 after buying an additional 38,360 shares during the period. Ariel Investments LLC increased its stake in shares of Northern Trust by 3.6% in the 2nd quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager’s stock valued at $222,060,000 after acquiring an additional 91,816 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Northern Trust by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock valued at $168,253,000 after acquiring an additional 219,387 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in Northern Trust by 2.0% during the second quarter. Thrivent Financial for Lutherans now owns 1,401,680 shares of the asset manager’s stock valued at $117,713,000 after purchasing an additional 26,984 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NTRS shares. Morgan Stanley upped their price objective on shares of Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Evercore ISI upped their target price on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Wells Fargo & Company lifted their price target on shares of Northern Trust from $92.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Finally, Bank of America increased their price objective on shares of Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and a consensus price target of $99.33.

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.