Meeder Asset Management Inc. Trims Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Meeder Asset Management Inc. reduced its stake in Northern Trust Co. (NASDAQ:NTRS) by 9.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,781 shares of the asset manager’s stock after selling 10,222 shares during the quarter. Meeder Asset Management Inc. owned about 0.05% of Northern Trust worth $8,983,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Olistico Wealth LLC purchased a new stake in shares of Northern Trust in the second quarter valued at $25,000. Innealta Capital LLC purchased a new stake in shares of Northern Trust in the second quarter valued at $26,000. Ridgewood Investments LLC purchased a new stake in shares of Northern Trust in the second quarter valued at $30,000. Northwest Investment Counselors LLC purchased a new stake in shares of Northern Trust in the third quarter valued at $39,000. Finally, Versant Capital Management Inc lifted its position in Northern Trust by 343.9% during the second quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock worth $37,000 after buying an additional 337 shares during the period. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Northern Trust news, EVP Thomas A. South sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $105.80, for a total transaction of $529,000.00. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Teresa Parker sold 4,439 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $100.86, for a total value of $447,717.54. Following the sale, the insider now owns 79,326 shares of the company’s stock, valued at approximately $8,000,820.36. This trade represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,906 shares of company stock worth $8,176,652. 0.64% of the stock is currently owned by corporate insiders.

Northern Trust Price Performance

NTRS stock opened at $108.93 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. Northern Trust Co. has a 1 year low of $74.63 and a 1 year high of $109.54. The firm has a market cap of $21.59 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 1.21 and a beta of 1.06. The stock has a 50-day simple moving average of $96.10 and a 200-day simple moving average of $89.12.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.75%. Northern Trust’s dividend payout ratio (DPR) is currently 37.31%.

Analysts Set New Price Targets

Several research firms recently weighed in on NTRS. Evercore ISI increased their target price on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft increased their target price on Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. UBS Group increased their target price on Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Barclays increased their target price on Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group downgraded Northern Trust from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $84.00 to $82.00 in a research report on Thursday, September 26th. Three 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. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $100.67.

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.