Geode Capital Management LLC Decreases Holdings in Northern Trust Co. (NASDAQ:NTRS)

Geode Capital Management LLC lessened its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,873,963 shares of the asset manager’s stock after selling 25,444 shares during the period. Geode Capital Management LLC owned approximately 2.46% of Northern Trust worth $437,322,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NTRS. Innealta Capital LLC purchased a new position in Northern Trust in the 2nd quarter worth about $26,000. Ridgewood Investments LLC purchased a new stake in Northern Trust in the 2nd quarter valued at about $30,000. Northwest Investment Counselors LLC bought a new stake in shares of Northern Trust during the third quarter valued at approximately $39,000. Capital Performance Advisors LLP purchased a new stake in shares of Northern Trust in the third quarter valued at approximately $48,000. Finally, Eastern Bank bought a new position in Northern Trust in the third quarter worth approximately $51,000. 83.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Peter Cherecwich sold 16,153 shares of Northern Trust stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the completion of the transaction, the chief operating officer now directly owns 4,397 shares in the company, valued at approximately $462,476.46. This trade represents a 78.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 completion of the sale, the insider now owns 46,078 shares in the company, valued at approximately $4,630,839. This represents a 37.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,151 shares of company stock worth $8,489,889. 0.64% of the stock is owned by company insiders.

Northern Trust Stock Performance

Shares of NTRS stock opened at $104.98 on Friday. 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 business has a fifty day moving average of $103.30 and a 200 day moving average of $92.20. The firm has a market capitalization of $20.81 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 1.18 and a beta of 1.07. Northern Trust Co. has a 1 year low of $76.67 and a 1 year high of $111.87.

Northern Trust Dividend Announcement

The company 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 $0.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.86%. Northern Trust’s dividend payout ratio is currently 37.31%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NTRS. Deutsche Bank Aktiengesellschaft lifted their target price on Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company increased their target price on shares of Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. UBS Group boosted their price target on shares of Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods increased their price objective on shares of Northern Trust from $100.00 to $113.00 and gave the company a “market perform” rating in a research note on Tuesday, December 3rd. Finally, Barclays boosted their price objective 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $105.00.

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.