Charles Schwab Investment Management Inc. Sells 16,883 Shares of Northern Trust Co. (NASDAQ:NTRS)

Charles Schwab Investment Management Inc. lowered its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,469,957 shares of the asset manager’s stock after selling 16,883 shares during the quarter. Charles Schwab Investment Management Inc. owned 2.16% of Northern Trust worth $377,175,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Ballast Inc. lifted its stake in Northern Trust by 1.1% in the fourth quarter. Ballast Inc. now owns 12,208 shares of the asset manager’s stock valued at $1,030,000 after acquiring an additional 136 shares during the last quarter. Mather Group LLC. raised its holdings in Northern Trust by 3.6% in the 4th quarter. Mather Group LLC. now owns 4,271 shares of the asset manager’s stock valued at $360,000 after acquiring an additional 147 shares in the last quarter. Aviance Capital Partners LLC grew its holdings in shares of Northern Trust by 1.8% during the 4th quarter. Aviance Capital Partners LLC now owns 8,585 shares of the asset manager’s stock worth $724,000 after purchasing an additional 150 shares in the last quarter. Diversified Trust Co increased its position in shares of Northern Trust by 1.9% in the fourth quarter. Diversified Trust Co now owns 8,531 shares of the asset manager’s stock worth $720,000 after purchasing an additional 156 shares during the period. Finally, Quent Capital LLC raised its stake in Northern Trust by 77.8% in the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 158 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Transactions at Northern Trust

In other Northern Trust news, insider Steven L. Fradkin sold 4,097 shares of Northern Trust stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total transaction of $338,248.32. Following the transaction, the insider now directly owns 46,078 shares of the company’s stock, valued at approximately $3,804,199.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Steven L. Fradkin sold 4,097 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total transaction of $338,248.32. Following the completion of the sale, the insider now owns 46,078 shares in the company, valued at $3,804,199.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven L. Fradkin sold 30,392 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total transaction of $2,434,703.12. Following the transaction, the insider now owns 55,707 shares of the company’s stock, valued at approximately $4,462,687.77. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.

Northern Trust Stock Up 0.8 %

NTRS traded up $0.66 during trading on Wednesday, hitting $85.32. 340,000 shares of the company’s stock were exchanged, compared to its average volume of 1,457,936. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. Northern Trust Co. has a fifty-two week low of $62.44 and a fifty-two week high of $89.25. The stock has a market cap of $17.46 billion, a P/E ratio of 18.69, a PEG ratio of 1.21 and a beta of 1.13. The business’s 50 day moving average is $84.12 and its two-hundred day moving average is $80.50.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Friday, June 7th. Northern Trust’s dividend payout ratio is currently 66.23%.

Wall Street Analysts Forecast Growth

NTRS has been the subject of several analyst reports. Jefferies Financial Group boosted their target price on shares of Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Morgan Stanley reiterated an “underweight” rating and issued a $86.00 price target (up previously from $82.00) on shares of Northern Trust in a research note on Tuesday, January 30th. Royal Bank of Canada lifted their target price on Northern Trust from $82.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. UBS Group raised their price target on shares of Northern Trust from $72.00 to $84.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. Finally, Evercore ISI raised their target price on shares of Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $84.92.

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.