Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its holdings in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,394,454 shares of the asset manager's stock after selling 19,166 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 3.73% of Northern Trust worth $665,723,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NTRS. Olistico Wealth LLC bought a new stake in shares of Northern Trust during the second quarter valued at approximately $25,000. Innealta Capital LLC purchased a new stake in shares of Northern Trust during the second quarter valued at $26,000. Ridgewood Investments LLC purchased a new stake in Northern Trust in the second quarter valued at $30,000. Versant Capital Management Inc boosted its holdings in Northern Trust by 343.9% in the second quarter. Versant Capital Management Inc now owns 435 shares of the asset manager's stock valued at $37,000 after purchasing an additional 337 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in Northern Trust in the third quarter valued at $39,000. Hedge funds and other institutional investors own 83.19% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on NTRS shares. Evercore ISI upped their price target on shares of Northern Trust from $86.00 to $103.00 and gave the stock an "in-line" rating in a research report on Thursday, October 24th. Bank of America increased their price objective on shares of Northern Trust from $103.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. The Goldman Sachs Group cut shares of Northern Trust from a "neutral" rating to a "sell" rating and decreased their price target for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. UBS Group raised their price objective on shares of Northern Trust from $86.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company lifted their price target on shares of Northern Trust from $108.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Friday, November 15th. Three investment 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. According to data from MarketBeat.com, Northern Trust has a consensus rating of "Hold" and a consensus target price of $100.67.

Insiders Place Their Bets

In related news, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the sale, the director now directly owns 1,000 shares in the company, valued at $88,120. This trade represents a 64.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Peter Cherecwich sold 16,153 shares of Northern Trust stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 4,397 shares in the company, valued at approximately $462,476.46. This represents a 78.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,906 shares of company stock valued at $8,176,652 in the last ninety days. Corporate insiders own 0.64% of the company's stock.

Northern Trust Stock Up 0.5 %

NTRS traded up $0.52 during trading hours on Friday, reaching $109.46. 928,225 shares of the stock traded hands, compared to its average volume of 1,295,351. The firm's fifty day simple moving average is $97.76 and its two-hundred day simple moving average is $89.73. The company has a market cap of $21.70 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.21 and a beta of 1.06. Northern Trust Co. has a fifty-two week low of $75.55 and a fifty-two week high of $109.92. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust's dividend payout ratio is currently 37.31%.

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.