Cerity Partners LLC Boosts Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Cerity Partners LLC raised its holdings in Northern Trust Co. (NASDAQ:NTRS) by 5.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,675 shares of the asset manager’s stock after purchasing an additional 4,989 shares during the quarter. Cerity Partners LLC owned 0.05% of Northern Trust worth $9,064,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Studio Investment Management LLC boosted its stake in shares of Northern Trust by 3.7% in the third quarter. Studio Investment Management LLC now owns 7,627 shares of the asset manager’s stock valued at $692,000 after buying an additional 269 shares in the last quarter. Primecap Management Co. CA lifted its holdings in Northern Trust by 0.5% in the third quarter. Primecap Management Co. CA now owns 7,085,117 shares of the asset manager’s stock valued at $637,873,000 after acquiring an additional 38,360 shares during the period. Ontario Teachers Pension Plan Board purchased a new stake in shares of Northern Trust during the 3rd quarter worth $390,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Northern Trust during the 3rd quarter worth $2,071,000. Finally, Pathstone Holdings LLC increased its holdings in shares of Northern Trust by 2.6% in the 3rd quarter. Pathstone Holdings LLC now owns 15,936 shares of the asset manager’s stock valued at $1,437,000 after purchasing an additional 402 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Buying and Selling at Northern Trust

In related news, COO Peter Cherecwich sold 16,153 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now owns 4,397 shares of the company’s stock, valued at approximately $462,476.46. This represents a 78.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction on Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the transaction, the director now owns 1,000 shares in the company, valued at approximately $88,120. This trade represents a 64.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 74,906 shares of company stock worth $7,643,252. Insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

NTRS has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their price objective on shares of Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised their price objective on Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Bank of America boosted their target price on Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group cut Northern Trust from a “neutral” rating to a “sell” rating and dropped their price target for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. Finally, Wells Fargo & Company boosted their price objective on shares of Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $100.67.

Northern Trust Price Performance

Northern Trust stock opened at $110.75 on Wednesday. The stock has a market capitalization of $21.95 billion, a P/E ratio of 13.77, a P/E/G ratio of 1.23 and a beta of 1.06. Northern Trust Co. has a 12-month low of $75.68 and a 12-month high of $111.19. 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 firm’s 50-day moving average is $98.58 and its two-hundred day moving average is $90.13.

Northern Trust Announces Dividend

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 $0.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 2.71%. Northern Trust’s payout ratio is currently 37.31%.

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.