Primecap Management Co. CA Increases Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Primecap Management Co. CA boosted its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 0.5% in the third quarter, HoldingsChannel.com reports. The fund owned 7,085,117 shares of the asset manager’s stock after purchasing an additional 38,360 shares during the period. Primecap Management Co. CA’s holdings in Northern Trust were worth $637,873,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC raised its position in Northern Trust by 4,646.7% in the 1st quarter. Acadian Asset Management LLC now owns 29,097 shares of the asset manager’s stock valued at $2,585,000 after purchasing an additional 28,484 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Northern Trust by 30.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,146 shares of the asset manager’s stock worth $280,000 after acquiring an additional 743 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Northern Trust by 668.0% during the 1st quarter. Bessemer Group Inc. now owns 20,205 shares of the asset manager’s stock worth $1,797,000 after acquiring an additional 17,574 shares in the last quarter. Shell Asset Management Co. raised its position in shares of Northern Trust by 95.1% during the 1st quarter. Shell Asset Management Co. now owns 8,540 shares of the asset manager’s stock worth $759,000 after acquiring an additional 4,162 shares in the last quarter. Finally, CreativeOne Wealth LLC acquired a new stake in shares of Northern Trust during the 1st quarter worth about $229,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Northern Trust

In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the sale, the director now owns 1,000 shares of the company’s stock, valued at approximately $88,120. The trade was a 64.97 % 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 hyperlink. Also, EVP Thomas A. South sold 5,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $105.80, for a total value of $529,000.00. Following the completion of the sale, the executive vice president now directly owns 49,756 shares of the company’s stock, valued at $5,264,184.80. The trade was a 9.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,906 shares of company stock worth $8,176,652. 0.64% of the stock is currently owned by insiders.

Northern Trust Stock Performance

Northern Trust stock opened at $107.88 on Thursday. The firm has a market capitalization of $21.38 billion, a P/E ratio of 13.42, a PEG ratio of 1.21 and a beta of 1.06. The stock has a fifty day moving average price of $96.90 and a 200 day moving average price of $89.42. Northern Trust Co. has a 52 week low of $75.26 and a 52 week high of $109.54. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be paid a $0.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 2.78%. Northern Trust’s payout ratio is currently 37.31%.

Analysts Set New Price Targets

A number of research firms recently issued reports on NTRS. The Goldman Sachs Group downgraded Northern Trust from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $84.00 to $82.00 in a research note on Thursday, September 26th. UBS Group lifted their target price on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Royal Bank of Canada lifted their target price on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Wells Fargo & Company lifted their target price on Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. Finally, StockNews.com upgraded Northern Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $100.67.

Northern Trust 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.