JPMorgan Chase & Co. Acquires 388,692 Shares of Northern Trust Co. (NASDAQ:NTRS)

JPMorgan Chase & Co. raised its holdings in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 9.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,296,442 shares of the asset manager's stock after acquiring an additional 388,692 shares during the period. JPMorgan Chase & Co. owned about 2.17% of Northern Trust worth $386,809,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Northern Trust during the second quarter worth $26,000. Northwest Investment Counselors LLC bought a new stake in Northern Trust during the 3rd quarter worth $39,000. Capital Performance Advisors LLP acquired a new position in Northern Trust in the 3rd quarter worth about $48,000. Eastern Bank bought a new position in Northern Trust in the third quarter valued at about $51,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Northern Trust during the third quarter valued at about $68,000. Institutional investors and hedge funds own 83.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. 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 report on Thursday, October 24th. StockNews.com raised shares of Northern Trust from a "hold" rating to a "buy" rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods boosted their price objective on shares of Northern Trust from $100.00 to $113.00 and gave the stock a "market perform" rating in a research note on Tuesday, December 3rd. Evercore ISI raised their target price on Northern Trust from $86.00 to $103.00 and gave the stock an "in-line" rating in a research report on Thursday, October 24th. Finally, UBS Group upped their price target on Northern Trust from $86.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Northern Trust currently has an average rating of "Hold" and a consensus target price of $105.00.

Northern Trust Trading Down 0.8 %

NTRS stock traded down $0.83 during mid-day trading on Friday, reaching $103.83. The company's stock had a trading volume of 640,708 shares, compared to its average volume of 1,300,652. The company has a market cap of $20.58 billion, a price-to-earnings ratio of 12.91, a price-to-earnings-growth ratio of 1.18 and a beta of 1.07. Northern Trust Co. has a 12 month low of $76.67 and a 12 month high of $111.87. The business's 50 day moving average price is $105.25 and its 200 day moving average price is $93.77. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.89%. Northern Trust's payout ratio is presently 37.31%.

Insider Buying and Selling

In other news, insider Teresa Parker sold 4,439 shares of the business's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $100.86, for a total transaction of $447,717.54. Following the completion of the sale, the insider now owns 79,326 shares in the company, valued at $8,000,820.36. The trade was a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the company's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $100.50, for a total value of $2,801,337.00. Following the transaction, the insider now directly owns 46,078 shares in the company, valued at $4,630,839. The trade was a 37.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 82,151 shares of company stock valued at $8,489,889 over the last ninety days. 0.64% of the stock is owned by corporate insiders.

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.