Insider Selling: Northern Trust Co. (NASDAQ:NTRS) Vice Chairman Sells $1,010,100.00 in Stock

Northern Trust Co. (NASDAQ:NTRS) Vice Chairman Steven L. Fradkin sold 9,100 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $111.00, for a total value of $1,010,100.00. Following the sale, the insider now directly owns 47,797 shares in the company, valued at $5,305,467. This trade represents a 15.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Northern Trust Stock Up 1.1 %

NTRS opened at $109.94 on Friday. The stock has a market cap of $21.79 billion, a P/E ratio of 13.67, a P/E/G ratio of 1.23 and a beta of 1.07. 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 stock’s 50 day moving average price is $101.22 and its 200 day moving average price is $91.24. Northern Trust Co. has a 12 month low of $76.67 and a 12 month high of $111.87.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Friday, December 6th. Northern Trust’s dividend payout ratio is 37.31%.

Analyst Ratings Changes

NTRS has been the subject of a number of analyst reports. Bank of America upped their price objective on shares of Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group lowered Northern Trust from a “neutral” rating to a “sell” rating and dropped their price target for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. Morgan Stanley upped their target price on shares of Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their price objective on Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $103.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NTRS. FMR LLC boosted its position in Northern Trust by 9.3% during the third quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock valued at $1,637,435,000 after purchasing an additional 1,542,685 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings 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 valued at $622,596,000 after purchasing an additional 850,556 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in Northern Trust by 4,660.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 399,932 shares of the asset manager’s stock worth $33,586,000 after acquiring an additional 391,531 shares during the period. Primecap Management Co. CA boosted its stake in Northern Trust by 3.9% during the 2nd quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock valued at $591,787,000 after purchasing an additional 261,285 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of 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 valued at $168,253,000 after acquiring an additional 219,387 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

About Northern Trust

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.