State Street Corp Has $793.90 Million Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

State Street Corp lowered its position in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,745,221 shares of the asset manager's stock after selling 60,995 shares during the quarter. State Street Corp owned 4.41% of Northern Trust worth $793,895,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Allworth Financial LP increased its stake in Northern Trust by 9.1% in the third quarter. Allworth Financial LP now owns 1,170 shares of the asset manager's stock valued at $105,000 after acquiring an additional 98 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in shares of Northern Trust by 14.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the asset manager's stock valued at $83,000 after purchasing an additional 117 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in shares of Northern Trust by 0.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager's stock worth $3,608,000 after buying an additional 120 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its position in shares of Northern Trust by 0.4% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager's stock worth $3,212,000 after buying an additional 127 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Northern Trust by 1.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager's stock valued at $889,000 after buying an additional 131 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Trading Down 1.8 %

Shares of NASDAQ:NTRS traded down $2.02 during midday trading on Friday, hitting $107.92. The company had a trading volume of 1,633,159 shares, compared to its average volume of 1,075,329. The stock has a market cap of $21.39 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 1.22 and a beta of 1.07. The firm has a fifty day simple moving average of $101.57 and a 200 day simple moving average of $91.45. 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.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be paid a $0.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.78%. Northern Trust's payout ratio is 37.31%.

Insiders Place Their Bets

In related news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 46,078 shares of the company's stock, valued at approximately $4,630,839. This trade represents a 37.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of the business's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the transaction, the director now owns 1,000 shares in the company, valued at $88,120. This represents a 64.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,006 shares of company stock worth $8,653,352. Company insiders own 0.64% of the company's stock.

Analyst Upgrades and Downgrades

NTRS has been the subject of a number of recent analyst reports. Morgan Stanley increased their target price on shares of Northern Trust from $97.00 to $103.00 and gave the stock an "underweight" rating in a research report on Thursday, October 24th. Evercore ISI lifted their target price on shares of Northern Trust from $86.00 to $103.00 and gave the company an "in-line" rating in a research note on Thursday, October 24th. The Goldman Sachs Group lowered Northern Trust from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $84.00 to $82.00 in a research report on Thursday, September 26th. Wells Fargo & Company raised their price target on Northern Trust from $108.00 to $110.00 and gave the company an "equal weight" rating in a report on Friday, November 15th. Finally, StockNews.com lowered Northern Trust from a "buy" rating to a "hold" rating in a research note on Wednesday, November 27th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $103.00.

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.