Northern Trust Co. (NASDAQ:NTRS) COO Peter Cherecwich Sells 16,153 Shares of 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 transaction, the chief operating officer now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Northern Trust Trading Down 1.2 %

NASDAQ NTRS opened at $105.25 on Friday. The company has a market capitalization of $20.86 billion, a PE ratio of 13.09, a P/E/G ratio of 1.17 and a beta of 1.06. The company has a fifty day moving average of $93.34 and a 200 day moving average of $87.79. Northern Trust Co. has a 1 year low of $68.97 and a 1 year high of $108.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be given 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 (DPR) is currently 37.31%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co increased its stake in shares of Northern Trust by 6.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 360,640 shares of the asset manager’s stock worth $32,111,000 after purchasing an additional 23,020 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Northern Trust by 668.0% in the 1st quarter. Bessemer Group Inc. now owns 20,205 shares of the asset manager’s stock valued at $1,797,000 after buying an additional 17,574 shares during the period. AIA Group Ltd grew its stake in shares of Northern Trust by 4.3% in the 1st quarter. AIA Group Ltd now owns 602,785 shares of the asset manager’s stock valued at $53,600,000 after buying an additional 24,791 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Northern Trust by 1,891.1% in the 1st quarter. Intech Investment Management LLC now owns 56,845 shares of the asset manager’s stock worth $5,055,000 after acquiring an additional 53,990 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of Northern Trust in the 1st quarter worth approximately $1,407,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. UBS Group increased their price objective on shares of Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Evercore ISI raised their target price on shares of Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Bank of America raised their target price 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. Finally, The Goldman Sachs Group downgraded shares of Northern Trust from a “neutral” rating to a “sell” rating and lowered their target price for the company from $84.00 to $82.00 in a research note on Thursday, September 26th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $99.33.

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.