Insider Selling: Northern Trust Co. (NASDAQ:NTRS) COO Sells 16,153 Shares of Stock

Northern Trust Co. (NASDAQ:NTRS) COO Peter Cherecwich sold 16,153 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the transaction, the chief operating officer now directly owns 4,397 shares of the company’s stock, valued at $462,476.46. The trade was 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 available through this hyperlink.

Northern Trust Stock Down 1.2 %

NASDAQ NTRS traded down $1.32 on Thursday, reaching $105.25. The company had a trading volume of 1,046,268 shares, compared to its average volume of 1,306,393. The stock has a market capitalization of $20.86 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.17 and a beta of 1.06. The company’s fifty day moving average is $93.34 and its 200 day moving average is $87.79. Northern Trust Co. has a 52-week low of $68.97 and a 52-week high of $108.53. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.85%. The ex-dividend date is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is currently 37.31%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Evercore ISI increased their target price on shares of Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Royal Bank of Canada increased their target price on shares of Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Barclays increased their target price on shares of Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company increased their target price on shares of Northern Trust from $92.00 to $108.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $99.33.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in Northern Trust by 11.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,574 shares of the asset manager’s stock worth $5,886,000 after buying an additional 6,978 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Northern Trust by 23.4% in the 1st quarter. BNP Paribas Financial Markets now owns 117,841 shares of the asset manager’s stock worth $10,478,000 after purchasing an additional 22,332 shares during the period. Nordea Investment Management AB increased its stake in Northern Trust by 3.7% in the 1st quarter. Nordea Investment Management AB now owns 14,104 shares of the asset manager’s stock worth $1,253,000 after purchasing an additional 505 shares during the period. Daiwa Securities Group Inc. increased its stake in Northern Trust by 8.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 20,321 shares of the asset manager’s stock worth $1,807,000 after purchasing an additional 1,606 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in Northern Trust by 7.0% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 9,567 shares of the asset manager’s stock worth $851,000 after purchasing an additional 630 shares during the period. Institutional investors own 83.19% of the company’s stock.

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.