Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its holdings in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 0.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,873,963 shares of the asset manager's stock after selling 25,444 shares during the period. Geode Capital Management LLC owned 2.46% of Northern Trust worth $437,322,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Kovitz Investment Group Partners LLC grew its holdings in shares of Northern Trust by 68.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 13,765 shares of the asset manager's stock worth $1,239,000 after buying an additional 5,578 shares during the last quarter. Williams Financial LLC purchased a new stake in shares of Northern Trust during the second quarter worth approximately $1,322,000. Martingale Asset Management L P lifted its holdings in shares of Northern Trust by 8.4% during the third quarter. Martingale Asset Management L P now owns 59,118 shares of the asset manager's stock worth $5,322,000 after purchasing an additional 4,564 shares during the period. Verition Fund Management LLC grew its position in Northern Trust by 327.1% in the 3rd quarter. Verition Fund Management LLC now owns 28,510 shares of the asset manager's stock valued at $2,567,000 after buying an additional 21,835 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new position in Northern Trust in the 2nd quarter valued at $3,666,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Morgan Stanley upgraded shares of Northern Trust from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $103.00 to $127.00 in a research note on Monday, December 9th. Barclays raised 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 report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft boosted their target price on Northern Trust from $100.00 to $108.00 and gave the stock a "hold" rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods raised their price target on Northern Trust from $100.00 to $113.00 and gave the company a "market perform" rating in a report on Tuesday, December 3rd. Finally, Bank of America lifted their price target on Northern Trust from $103.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Northern Trust has an average rating of "Hold" and a consensus target price of $105.00.

Northern Trust Price Performance

Shares of NTRS stock traded down $0.41 during mid-day trading on Friday, reaching $104.98. The stock had a trading volume of 1,990,708 shares, compared to its average volume of 1,303,318. The company has a market cap of $20.81 billion, a P/E ratio of 13.06, a price-to-earnings-growth ratio of 1.18 and a beta of 1.07. 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 Co. has a 12-month low of $76.67 and a 12-month high of $111.87. The business has a 50-day simple moving average of $103.30 and a 200 day simple moving average of $92.27.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.86%. Northern Trust's dividend payout ratio is presently 37.31%.

Insider Transactions at Northern Trust

In related news, COO Peter Cherecwich sold 16,153 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $105.18, for a total value of $1,698,972.54. Following the completion of the transaction, the chief operating officer now owns 4,397 shares of the company's stock, valued at approximately $462,476.46. The trade was a 78.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the firm's stock in a transaction dated 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 sale, the insider now directly owns 46,078 shares in the company, 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. Insiders sold a total of 82,151 shares of company stock valued at $8,489,889 in the last ninety days. Corporate insiders own 0.64% of the company's stock.

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.