Fmr LLC Boosts Stake in Northern Trust Co. (NASDAQ:NTRS)

FMR LLC boosted its stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 9.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,187,663 shares of the asset manager's stock after purchasing an additional 1,542,685 shares during the period. FMR LLC owned about 9.18% of Northern Trust worth $1,637,435,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC boosted its holdings in shares of Northern Trust by 30.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,146 shares of the asset manager's stock worth $280,000 after purchasing an additional 743 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Northern Trust in the 1st quarter worth approximately $299,000. Lazard Asset Management LLC bought a new stake in shares of Northern Trust in the 1st quarter worth approximately $2,761,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Northern Trust during the first quarter valued at approximately $3,842,000. Finally, California State Teachers Retirement System raised its holdings in shares of Northern Trust by 0.4% during the first quarter. California State Teachers Retirement System now owns 328,724 shares of the asset manager's stock valued at $29,230,000 after acquiring an additional 1,472 shares in the last quarter. Institutional investors own 83.19% of the company's stock.

Northern Trust Stock Down 0.1 %

Northern Trust stock traded down $0.16 during mid-day trading on Wednesday, hitting $110.59. The company had a trading volume of 592,534 shares, compared to its average volume of 1,296,518. Northern Trust Co. has a 12 month low of $75.70 and a 12 month high of $111.57. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock's 50 day moving average price is $98.99 and its two-hundred day moving average price is $90.27. The company has a market capitalization of $21.92 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06.

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 paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.71%. Northern Trust's dividend payout ratio is currently 37.31%.

Insider Buying and Selling at Northern Trust

In other news, insider Teresa Parker sold 4,439 shares of the firm's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $100.86, for a total transaction of $447,717.54. Following the sale, the insider now owns 79,326 shares of the company's stock, valued at $8,000,820.36. This trade represents a 5.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of Northern Trust stock in a transaction that occurred 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 $4,630,839. This represents a 37.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,906 shares of company stock worth $7,643,252. 0.64% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of Northern Trust from $97.00 to $103.00 and gave the company an "underweight" rating in a research report on Thursday, October 24th. Royal Bank of Canada boosted their price target on shares of Northern Trust from $100.00 to $107.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. StockNews.com upgraded shares of Northern Trust from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. Barclays upped their target price on Northern Trust from $98.00 to $115.00 and gave the stock an "equal weight" rating in a report on Thursday, October 24th. Finally, Bank of America raised 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 assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Northern Trust currently has an average rating of "Hold" and an average target price of $100.67.

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.