Chevy Chase Trust Holdings LLC Sells 3,591 Shares of Northern Trust Co. (NASDAQ:NTRS)

Chevy Chase Trust Holdings LLC decreased its position in Northern Trust Co. (NASDAQ:NTRS) by 3.2% during the third quarter, HoldingsChannel.com reports. The firm owned 108,109 shares of the asset manager’s stock after selling 3,591 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Northern Trust were worth $9,733,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NTRS. CWM LLC boosted its stake in Northern Trust by 45.7% in the 2nd quarter. CWM LLC now owns 9,663 shares of the asset manager’s stock worth $812,000 after purchasing an additional 3,032 shares in the last quarter. Czech National Bank boosted its stake in Northern Trust by 8.0% in the 2nd quarter. Czech National Bank now owns 38,987 shares of the asset manager’s stock worth $3,274,000 after purchasing an additional 2,895 shares in the last quarter. Ballast Inc. boosted its stake in Northern Trust by 5.7% in the 2nd quarter. Ballast Inc. now owns 13,700 shares of the asset manager’s stock worth $1,151,000 after purchasing an additional 744 shares in the last quarter. Walter & Keenan Wealth Management LLC IN ADV boosted its stake in Northern Trust by 2.3% in the 2nd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 42,251 shares of the asset manager’s stock worth $3,548,000 after purchasing an additional 967 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in Northern Trust by 0.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 31,068 shares of the asset manager’s stock worth $2,609,000 after purchasing an additional 255 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

NTRS has been the topic of several research analyst reports. Barclays upped 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. 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 note on Thursday, October 24th. 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. Wells Fargo & Company upped their target price 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, Bank of America upped their target price on shares of Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $103.00.

Northern Trust Trading Down 0.5 %

Northern Trust stock opened at $108.77 on Thursday. Northern Trust Co. has a 12-month low of $76.67 and a 12-month high of $111.87. The firm has a market capitalization of $21.56 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 1.24 and a beta of 1.07. The firm has a 50 day moving average of $100.82 and a 200 day moving average of $91.11. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Friday, December 6th. Northern Trust’s payout ratio is 37.31%.

Insiders Place Their Bets

In other news, EVP Thomas A. South sold 5,000 shares of Northern Trust stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $105.80, for a total transaction of $529,000.00. Following the sale, the executive vice president now owns 49,756 shares in the company, valued at $5,264,184.80. This trade represents a 9.13 % decrease in their ownership of the stock. The transaction 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 that occurred on Friday, November 29th. The shares were sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the sale, the insider now owns 47,797 shares in the company, valued at approximately $5,305,467. The trade was a 15.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,006 shares of company stock worth $8,653,352. Company insiders own 0.64% 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.