Northern Trust Co. (NASDAQ:NTRS) Shares Sold by MML Investors Services LLC

MML Investors Services LLC cut its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 4.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,505 shares of the asset manager’s stock after selling 151 shares during the quarter. MML Investors Services LLC’s holdings in Northern Trust were worth $316,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in Northern Trust in the second quarter valued at $26,000. Ridgewood Investments LLC purchased a new position in shares of Northern Trust in the 2nd quarter valued at about $30,000. Northwest Investment Counselors LLC acquired a new position in shares of Northern Trust during the third quarter worth about $39,000. Capital Performance Advisors LLP purchased a new stake in shares of Northern Trust during the third quarter worth approximately $48,000. Finally, Eastern Bank acquired a new stake in Northern Trust in the third quarter valued at approximately $51,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Royal Bank of Canada upped their price target on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. The Goldman Sachs Group downgraded shares of Northern Trust from a “neutral” rating to a “sell” rating and dropped their target price for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. UBS Group boosted their price target on shares of Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. StockNews.com raised Northern Trust from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th. Finally, Evercore ISI boosted their target price on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Northern Trust presently has an average rating of “Hold” and an average price target of $105.00.

Northern Trust Stock Performance

Shares of NTRS opened at $103.61 on Wednesday. Northern Trust Co. has a 1 year low of $76.67 and a 1 year high of $111.87. The stock has a market capitalization of $20.54 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.18 and a beta of 1.07. 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’s fifty day moving average is $104.61 and its two-hundred day moving average is $93.16.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Friday, December 6th. Northern Trust’s dividend payout ratio is presently 37.31%.

Insider Transactions at Northern Trust

In related news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $100.50, for a total transaction of $2,801,337.00. Following the transaction, the insider now owns 46,078 shares of the company’s stock, valued at $4,630,839. This represents a 37.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Thomas A. South sold 5,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $105.80, for a total value of $529,000.00. Following the completion of the sale, the executive vice president now directly owns 49,756 shares of the company’s stock, valued at approximately $5,264,184.80. This trade represents a 9.13 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 82,151 shares of company stock valued at $8,489,889. Corporate insiders own 0.64% of the company’s stock.

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.