Charles Schwab Investment Management Inc. Decreases Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Charles Schwab Investment Management Inc. reduced its holdings in Northern Trust Co. (NASDAQ:NTRS) by 0.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,469,957 shares of the asset manager’s stock after selling 16,883 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Northern Trust were worth $377,175,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in NTRS. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Northern Trust by 1.3% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 14,841 shares of the asset manager’s stock worth $1,031,000 after purchasing an additional 192 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of Northern Trust by 7.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 16,197 shares of the asset manager’s stock worth $1,125,000 after purchasing an additional 1,076 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Northern Trust by 29.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 86,214 shares of the asset manager’s stock worth $5,990,000 after purchasing an additional 19,427 shares during the last quarter. Mackenzie Financial Corp increased its stake in Northern Trust by 2.4% in the third quarter. Mackenzie Financial Corp now owns 26,004 shares of the asset manager’s stock worth $1,738,000 after purchasing an additional 616 shares during the period. Finally, IFM Investors Pty Ltd grew its stake in Northern Trust by 30.9% in the third quarter. IFM Investors Pty Ltd now owns 49,889 shares of the asset manager’s stock worth $3,466,000 after purchasing an additional 11,791 shares in the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Price Performance

NASDAQ:NTRS traded up $0.66 during trading hours on Wednesday, hitting $85.32. 340,000 shares of the stock were exchanged, compared to its average volume of 1,457,936. The company has a market cap of $17.46 billion, a P/E ratio of 18.69, a P/E/G ratio of 1.21 and a beta of 1.13. The firm’s fifty day moving average price is $84.12 and its 200 day moving average price is $80.50. Northern Trust Co. has a 52-week low of $62.44 and a 52-week high of $89.25. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Friday, June 7th. Northern Trust’s dividend payout ratio is currently 66.23%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, insider Steven L. Fradkin sold 4,097 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total value of $338,248.32. Following the completion of the sale, the insider now owns 46,078 shares in the company, valued at approximately $3,804,199.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Steven L. Fradkin sold 30,392 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total value of $2,434,703.12. Following the sale, the insider now directly owns 55,707 shares of the company’s stock, valued at approximately $4,462,687.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven L. Fradkin sold 4,097 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total transaction of $338,248.32. Following the completion of the transaction, the insider now owns 46,078 shares in the company, valued at $3,804,199.68. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NTRS shares. TheStreet upgraded Northern Trust from a “c+” rating to a “b-” rating in a report on Friday, January 12th. Royal Bank of Canada upped their price target on shares of Northern Trust from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Evercore ISI lifted their price objective on shares of Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. UBS Group boosted their price objective on shares of Northern Trust from $72.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. Finally, Bank of America increased their target price on Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Northern Trust presently has a consensus rating of “Hold” and a consensus price target of $84.92.

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.