Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Riverwater Partners LLC

Riverwater Partners LLC reduced its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 38.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,317 shares of the asset manager’s stock after selling 1,422 shares during the period. Riverwater Partners LLC’s holdings in Northern Trust were worth $205,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position 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 in the last quarter. Panagora Asset Management Inc. increased its position in Northern Trust by 4,660.5% during the second quarter. Panagora Asset Management Inc. now owns 399,932 shares of the asset manager’s stock worth $33,586,000 after buying an additional 391,531 shares in the last quarter. Primecap Management Co. CA increased its position 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 worth $591,787,000 after purchasing an additional 261,285 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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 buying an additional 219,387 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Northern Trust by 55.1% during the second quarter. AQR Capital Management LLC now owns 597,146 shares of the asset manager’s stock worth $49,575,000 after acquiring an additional 212,089 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling

In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 in the company, valued at $88,120. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Teresa Parker sold 5,883 shares of Northern Trust stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the transaction, the executive vice president now directly owns 83,765 shares in the company, valued at approximately $7,041,285.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles A. Tribbett sold 1,855 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the sale, the director now owns 1,000 shares in the company, valued at $88,120. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,738 shares of company stock worth $1,191,388. 0.64% of the stock is currently owned by corporate insiders.

Northern Trust Stock Performance

Northern Trust stock opened at $102.79 on Friday. Northern Trust Co. has a 12-month low of $62.44 and a 12-month high of $104.25. 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 company has a market capitalization of $20.73 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 1.65 and a beta of 1.08. The firm’s fifty day moving average price is $90.51 and its 200 day moving average price is $86.53.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s payout ratio is 41.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NTRS shares. The Goldman Sachs Group cut shares of Northern Trust from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $84.00 to $82.00 in a research report on Thursday, September 26th. Keefe, Bruyette & Woods reduced their price objective on Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a research note on Thursday, June 27th. Bank of America increased their target price on shares of Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group lifted their price target on shares of Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company increased their price objective on shares of Northern Trust from $92.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Thursday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Northern Trust presently has an average rating of “Hold” and an average price target of $99.33.

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.