Northern Trust Co. (NASDAQ:NTRS) Stock Position Reduced by Meeder Asset Management Inc.

Meeder Asset Management Inc. lessened its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 9.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 99,781 shares of the asset manager’s stock after selling 10,222 shares during the quarter. Meeder Asset Management Inc.’s holdings in Northern Trust were worth $8,983,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of NTRS. Olistico Wealth LLC bought a new position in Northern Trust during the 2nd quarter worth approximately $25,000. Innealta Capital LLC bought a new position in Northern Trust during the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC bought a new position in Northern Trust during the 2nd quarter worth approximately $30,000. Versant Capital Management Inc lifted its holdings in Northern Trust by 343.9% during the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock worth $37,000 after buying an additional 337 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in Northern Trust during the 3rd quarter worth approximately $39,000. Institutional investors own 83.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NTRS. StockNews.com raised Northern Trust from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Morgan Stanley raised their price target on Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised their price target on Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Barclays lifted their target price on Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Finally, Bank of America lifted their target price on Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $100.67.

Insider Activity at Northern Trust

In related news, Vice Chairman Steven L. Fradkin sold 27,874 shares of Northern Trust stock in a transaction on Friday, October 25th. The stock was sold at an average price of $100.50, for a total transaction of $2,801,337.00. Following the completion of the sale, the insider now owns 46,078 shares of the company’s stock, valued at approximately $4,630,839. This trade represents a 37.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Peter Cherecwich sold 16,153 shares of Northern Trust stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $105.18, for a total value of $1,698,972.54. Following the sale, the chief operating officer now directly owns 4,397 shares of the company’s stock, valued at approximately $462,476.46. The trade was a 78.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,906 shares of company stock valued at $8,176,652. Insiders own 0.64% of the company’s stock.

Northern Trust Stock Performance

Shares of NASDAQ NTRS opened at $108.93 on Tuesday. Northern Trust Co. has a 52-week low of $74.63 and a 52-week high of $109.54. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $21.59 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 1.21 and a beta of 1.06. The stock’s fifty day simple moving average is $96.10 and its 200 day simple moving average is $89.12.

Northern Trust Dividend Announcement

The company 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 is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.75%. Northern Trust’s payout ratio is 37.31%.

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.