Northern Trust Co. (NASDAQ:NTRS) COO Sells $1,698,972.54 in Stock

Northern Trust Co. (NASDAQ:NTRS) COO Peter Cherecwich sold 16,153 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the completion of the sale, the chief operating officer now directly owns 4,397 shares in the company, valued at $462,476.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $105.18 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 firm has a market cap of $20.85 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. The business has a 50-day simple moving average of $93.94 and a two-hundred day simple moving average of $88.06. Northern Trust Co. has a fifty-two week low of $68.97 and a fifty-two week high of $108.53.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.85%. Northern Trust’s dividend payout ratio (DPR) is 37.31%.

Institutional Investors Weigh In On Northern Trust

A number of large investors have recently added to or reduced their stakes in NTRS. Massachusetts Financial Services Co. MA lifted its holdings in shares of Northern Trust by 13.0% during 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 lifted its holdings in Northern Trust by 0.5% in the third quarter. Primecap Management Co. CA now owns 7,085,117 shares of the asset manager’s stock valued at $637,873,000 after acquiring an additional 38,360 shares during the period. Ariel Investments LLC boosted its position in Northern Trust by 3.6% in the second quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager’s stock worth $222,060,000 after purchasing an additional 91,816 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Northern Trust by 12.3% during 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 purchasing an additional 219,387 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in shares of Northern Trust by 2.0% during the 2nd 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 last quarter. Institutional investors own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on NTRS. Royal Bank of Canada boosted their price objective on shares of Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their price target on Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Evercore ISI lifted their price objective 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. Morgan Stanley increased their target price on Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Finally, Barclays raised their price target on Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.