Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Tidal Investments LLC

Tidal Investments LLC lowered its stake in Northern Trust Co. (NASDAQ:NTRS) by 1.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,978 shares of the asset manager’s stock after selling 150 shares during the period. Tidal Investments LLC’s holdings in Northern Trust were worth $718,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NTRS. Innealta Capital LLC purchased a new position in Northern Trust during the 2nd quarter worth $26,000. Ridgewood Investments LLC acquired a new position in shares of Northern Trust during the second quarter worth about $30,000. Northwest Investment Counselors LLC purchased a new position in Northern Trust during the third quarter worth about $39,000. Capital Performance Advisors LLP acquired a new stake in Northern Trust in the third quarter valued at about $48,000. Finally, Eastern Bank purchased a new stake in Northern Trust in the 3rd quarter valued at approximately $51,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling at Northern Trust

In other news, COO Peter Cherecwich sold 16,153 shares of Northern Trust stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $105.18, for a total value of $1,698,972.54. Following the completion of the sale, the chief operating officer now owns 4,397 shares of the company’s stock, valued at $462,476.46. The trade was a 78.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Steven L. Fradkin sold 9,100 shares of the company’s 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 completion of the transaction, the insider now owns 47,797 shares of the company’s stock, valued at $5,305,467. The trade was a 15.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 82,151 shares of company stock worth $8,489,889. Corporate insiders own 0.64% of the company’s stock.

Northern Trust Stock Performance

Northern Trust stock opened at $102.48 on Friday. Northern Trust Co. has a fifty-two week low of $76.67 and a fifty-two week high of $111.87. The company has a market capitalization of $20.31 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.18 and a beta of 1.07. The stock has a fifty day moving average of $104.44 and a two-hundred day moving average of $92.95. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust Announces Dividend

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 paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.93%. The ex-dividend date is Friday, December 6th. Northern Trust’s payout ratio is 37.31%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NTRS shares. Morgan Stanley raised Northern Trust from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $103.00 to $127.00 in a research note on Monday, December 9th. Bank of America raised their target price on Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Evercore ISI increased their price target on shares of Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Wells Fargo & Company raised their price objective on shares of Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Northern Trust from $100.00 to $113.00 and gave the company a “market perform” rating in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $105.00.

Northern Trust 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.