Fmr LLC Has $1.64 Billion Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Fmr LLC increased its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 9.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,187,663 shares of the asset manager’s stock after buying an additional 1,542,685 shares during the quarter. Fmr LLC owned 9.18% of Northern Trust worth $1,637,435,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its stake in 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 worth $622,596,000 after purchasing an additional 850,556 shares during the period. Primecap Management Co. CA lifted its stake in Northern Trust by 0.5% during the third quarter. Primecap Management Co. CA now owns 7,085,117 shares of the asset manager’s stock worth $637,873,000 after purchasing an additional 38,360 shares during the period. Ariel Investments LLC lifted its stake in Northern Trust by 3.6% during the second quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager’s stock worth $222,060,000 after purchasing an additional 91,816 shares during the period. Dimensional Fund Advisors LP lifted its stake in Northern Trust by 12.3% during 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 period. Finally, Thrivent Financial for Lutherans lifted its stake in Northern Trust by 2.0% during the second quarter. Thrivent Financial for Lutherans now owns 1,401,680 shares of the asset manager’s stock worth $117,713,000 after purchasing an additional 26,984 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Stock Performance

Shares of Northern Trust stock opened at $110.75 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market cap of $21.95 billion, a P/E ratio of 13.77, a P/E/G ratio of 1.24 and a beta of 1.06. The firm has a 50 day simple moving average of $98.58 and a 200 day simple moving average of $90.13. Northern Trust Co. has a fifty-two week low of $75.68 and a fifty-two week high of $111.19.

Northern Trust Dividend Announcement

The business also recently declared 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 2.71%. The ex-dividend date is Friday, December 6th. Northern Trust’s dividend payout ratio is currently 37.31%.

Insider Activity at Northern Trust

In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction on Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the sale, the director now owns 1,000 shares of the company’s stock, valued at approximately $88,120. The trade was a 64.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of Northern Trust stock in a transaction 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 sale, the insider now directly owns 46,078 shares of the company’s stock, valued at $4,630,839. This represents a 37.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,906 shares of company stock valued at $7,643,252 over the last quarter. Corporate insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on NTRS shares. Morgan Stanley raised their price target on shares of Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. The Goldman Sachs Group cut shares of Northern Trust from a “neutral” rating to a “sell” rating and cut their price target for the stock from $84.00 to $82.00 in a research note on Thursday, September 26th. StockNews.com upgraded shares of Northern Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Barclays raised their price target on shares of 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, Royal Bank of Canada lifted their target price on shares of Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $100.67.

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.