Northern Trust Co. (NASDAQ:NTRS) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its holdings in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 13.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 163,127 shares of the asset manager's stock after selling 26,053 shares during the quarter. New York State Common Retirement Fund owned approximately 0.08% of Northern Trust worth $14,686,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its position in shares of Northern Trust by 13.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager's stock valued at $622,596,000 after buying an additional 850,556 shares during the last quarter. Panagora Asset Management Inc. lifted its position in Northern Trust by 4,660.5% during the second quarter. Panagora Asset Management Inc. now owns 399,932 shares of the asset manager's stock valued at $33,586,000 after acquiring an additional 391,531 shares during the last quarter. Primecap Management Co. CA boosted its stake in Northern Trust by 3.9% in the second quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager's stock valued at $591,787,000 after acquiring an additional 261,285 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in 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 worth $168,253,000 after purchasing an additional 219,387 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Northern Trust by 55.1% during the second quarter. AQR Capital Management LLC now owns 597,146 shares of the asset manager's stock worth $49,575,000 after purchasing an additional 212,089 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.

Insider Buying and Selling

In other news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $100.50, for a total value 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 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Teresa Parker sold 5,883 shares of the business's stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the sale, the executive vice president now directly owns 83,765 shares of the company's stock, valued at approximately $7,041,285.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the 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 transaction, the insider now directly owns 46,078 shares of the company's stock, valued at $4,630,839. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,636 shares of company stock worth $6,443,204. Insiders own 0.64% of the company's stock.

Wall Street Analyst Weigh In

NTRS has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Northern Trust from $84.00 to $94.00 and gave the company a "hold" rating in a research report on Monday, September 23rd. Evercore ISI boosted their price objective on shares of Northern Trust from $86.00 to $103.00 and gave the company an "in-line" rating in a report on Thursday, October 24th. The Goldman Sachs Group cut Northern Trust from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $84.00 to $82.00 in a research report on Thursday, September 26th. Barclays raised their price objective on Northern Trust from $98.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 24th. Finally, UBS Group raised their price target on shares of Northern Trust from $86.00 to $92.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 8th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $99.33.

Northern Trust Price Performance

NTRS stock traded up $5.22 during midday trading on Wednesday, reaching $106.57. The stock had a trading volume of 2,092,581 shares, compared to its average volume of 1,291,892. Northern Trust Co. has a 52-week low of $68.97 and a 52-week high of $108.53. The company has a market cap of $21.12 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 1.17 and a beta of 1.06. The company's fifty day simple moving average is $93.34 and its 200 day simple moving average is $87.79. 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Friday, December 6th. Northern Trust's dividend payout ratio is currently 37.31%.

Northern Trust 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.