Northern Trust Co. (NASDAQ:NTRS) Position Increased by AIA Group Ltd

AIA Group Ltd boosted its stake in Northern Trust Co. (NASDAQ:NTRS) by 7.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 577,855 shares of the asset manager’s stock after buying an additional 40,271 shares during the period. Northern Trust accounts for approximately 1.3% of AIA Group Ltd’s investment portfolio, making the stock its 14th largest holding. AIA Group Ltd owned 0.29% of Northern Trust worth $52,024,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its stake in shares of Northern Trust by 13.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock worth $622,596,000 after purchasing an additional 850,556 shares in the last quarter. Primecap Management Co. CA increased its stake in Northern Trust by 3.9% during the 2nd quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock valued at $591,787,000 after buying an additional 261,285 shares during the period. Ariel Investments LLC lifted its stake in shares of Northern Trust by 3.6% in the 2nd quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager’s stock worth $222,060,000 after acquiring an additional 91,816 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Northern Trust by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock valued at $168,253,000 after acquiring an additional 219,387 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in Northern Trust by 2.0% during the second quarter. Thrivent Financial for Lutherans now owns 1,401,680 shares of the asset manager’s stock worth $117,713,000 after purchasing an additional 26,984 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

NTRS has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price 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 increased their target price on shares of Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. UBS Group increased their price objective on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Wells Fargo & Company boosted their target price on Northern Trust from $92.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Finally, Evercore ISI increased their price target on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Three investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $99.33.

Insider Activity

In other news, COO Peter Cherecwich sold 16,153 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the transaction, the chief operating officer now directly owns 4,397 shares in the company, valued at $462,476.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Peter Cherecwich sold 16,153 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the transaction, the chief operating officer now directly owns 4,397 shares in the company, valued at $462,476.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark C. Gossett sold 6,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total transaction of $533,400.00. Following the transaction, the executive vice president now owns 28,707 shares in the company, valued at approximately $2,552,052.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,906 shares of company stock worth $7,647,652 in the last ninety days. Corporate insiders own 0.64% of the company’s stock.

Northern Trust Trading Down 1.2 %

NASDAQ NTRS opened at $105.25 on Friday. Northern Trust Co. has a twelve month low of $68.97 and a twelve month high of $108.53. 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 stock has a market cap of $20.86 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 1.17 and a beta of 1.06. The firm’s 50 day moving average price is $93.34 and its two-hundred day moving average price is $87.79.

Northern Trust Announces Dividend

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 dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.85%. The ex-dividend date is Friday, December 6th. Northern Trust’s payout ratio is 37.31%.

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.