Chevy Chase Trust Holdings LLC Has $10.11 Million Position in Northern Trust Co. (NASDAQ:NTRS)

Chevy Chase Trust Holdings LLC cut its position in Northern Trust Co. (NASDAQ:NTRS) by 1.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,646 shares of the asset manager’s stock after selling 2,047 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Northern Trust were worth $10,105,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Commerce Bank boosted its position in Northern Trust by 1.1% in the first quarter. Commerce Bank now owns 110,899 shares of the asset manager’s stock valued at $9,861,000 after buying an additional 1,177 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Northern Trust in the first quarter valued at about $679,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in Northern Trust by 7.0% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 9,567 shares of the asset manager’s stock valued at $851,000 after buying an additional 630 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Northern Trust in the first quarter valued at about $407,000. Finally, Daiwa Securities Group Inc. boosted its position in Northern Trust by 8.6% in the first quarter. Daiwa Securities Group Inc. now owns 20,321 shares of the asset manager’s stock valued at $1,807,000 after buying an additional 1,606 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, insider Peter Cherecwich sold 12,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total value of $1,045,080.00. Following the completion of the sale, the insider now owns 31,471 shares in the company, valued at $2,740,809.39. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Northern Trust news, insider Steven L. Fradkin sold 4,097 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total value of $338,248.32. Following the transaction, the insider now directly owns 46,078 shares of the company’s stock, valued at approximately $3,804,199.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Peter Cherecwich sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the completion of the sale, the insider now owns 31,471 shares in the company, valued at $2,740,809.39. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.

Northern Trust Stock Up 0.9 %

NTRS traded up $0.76 during trading hours on Wednesday, hitting $84.69. 268,532 shares of the company’s stock were exchanged, compared to its average volume of 1,352,953. The stock has a market cap of $17.33 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 1.17 and a beta of 1.10. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock’s 50-day moving average is $83.66 and its two-hundred day moving average is $83.13. Northern Trust Co. has a 1-year low of $62.44 and a 1-year high of $89.25.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Tuesday, April 16th. The asset manager reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.23. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. Sell-side analysts predict that Northern Trust Co. will post 6.91 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend was Friday, June 7th. Northern Trust’s dividend payout ratio is currently 66.23%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group upped their target price on shares of Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Keefe, Bruyette & Woods reduced their target price on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a research report on Thursday, June 27th. The Goldman Sachs Group reduced their target price on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Evercore ISI upped their target price on shares of Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Finally, Bank of America upped their target price on shares of Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $86.42.

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.