Central Pacific Bank Trust Division Has $369,000 Position in Northern Trust Co. (NASDAQ:NTRS)

Central Pacific Bank Trust Division lessened its stake in Northern Trust Co. (NASDAQ:NTRS) by 21.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,600 shares of the asset manager’s stock after selling 1,000 shares during the period. Central Pacific Bank Trust Division’s holdings in Northern Trust were worth $369,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Northern Trust by 9.3% in the 3rd quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock worth $1,637,435,000 after acquiring an additional 1,542,685 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Northern Trust by 13.0% in 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 boosted 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 buying an additional 38,360 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Northern Trust by 9.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock valued at $386,809,000 after buying an additional 388,692 shares during the period. Finally, Ariel Investments LLC raised its stake in shares of Northern Trust by 3.6% in the 2nd quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager’s stock valued at $222,060,000 after buying an additional 91,816 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Susan Cohen Levy sold 19,585 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $102.26, for a total value of $2,002,762.10. Following the transaction, the executive vice president now directly owns 17,132 shares in the company, valued at $1,751,918.32. This represents a 53.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Steven L. Fradkin sold 9,100 shares of Northern Trust stock in a transaction on Friday, November 29th. The stock was sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the sale, the insider now directly owns 47,797 shares of the company’s stock, valued at $5,305,467. This represents a 15.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,151 shares of company stock valued at $8,489,889. Company insiders own 0.64% of the company’s stock.

Northern Trust Trading Up 0.3 %

Shares of NASDAQ NTRS opened at $103.28 on Friday. Northern Trust Co. has a 1-year low of $76.67 and a 1-year high of $111.87. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average of $105.53 and a two-hundred day moving average of $94.18. The company has a market cap of $20.47 billion, a PE ratio of 12.85, a P/E/G ratio of 1.18 and a beta of 1.07.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Friday, December 6th. Northern Trust’s dividend payout ratio is 37.31%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NTRS. Deutsche Bank Aktiengesellschaft upped their target price on shares of Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods increased their target price on Northern Trust from $100.00 to $113.00 and gave the stock a “market perform” rating in a report on Tuesday, December 3rd. UBS Group boosted their price target on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Barclays increased their price objective on 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, Morgan Stanley reduced their target price on shares of Northern Trust from $127.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $106.64.

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.