Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its stake in Northern Trust Co. (NASDAQ:NTRS) by 0.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,259,304 shares of the asset manager’s stock after selling 3,172 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.64% of Northern Trust worth $113,375,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NTRS. Primecap Management Co. CA lifted its position in shares of 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 in the last quarter. Ontario Teachers Pension Plan Board purchased a new position in Northern Trust in the 3rd quarter valued at $390,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Northern Trust during the 3rd quarter worth $2,071,000. Pathstone Holdings LLC grew its holdings in shares of Northern Trust by 2.6% during the third quarter. Pathstone Holdings LLC now owns 15,936 shares of the asset manager’s stock worth $1,437,000 after buying an additional 402 shares in the last quarter. Finally, Aviance Capital Partners LLC raised its position in shares of Northern Trust by 11.8% in the third quarter. Aviance Capital Partners LLC now owns 11,652 shares of the asset manager’s stock valued at $1,049,000 after buying an additional 1,226 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 sale, the chief operating officer now directly owns 4,397 shares in the company, valued at approximately $462,476.46. This represents a 78.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of the firm’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 transaction of $163,462.60. Following the completion of the sale, the director now directly 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. Insiders sold a total of 74,906 shares of company stock worth $7,643,252 over the last 90 days. Corporate insiders own 0.64% of the company’s stock.

Northern Trust Price Performance

Northern Trust stock opened at $110.53 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $21.91 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. The company’s 50 day simple moving average is $98.18 and its 200-day simple moving average is $89.96. Northern Trust Co. has a 1 year low of $75.68 and a 1 year high of $110.99.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be given a $0.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 2.71%. Northern Trust’s dividend payout ratio is presently 37.31%.

Analyst Ratings Changes

Several analysts recently issued reports on NTRS shares. Barclays upped their price objective 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 price target on Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. StockNews.com upgraded Northern Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Wells Fargo & Company upped their target price on Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. Finally, Bank of America lifted their price target on Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $100.67.

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.