Choreo LLC Acquires Shares of 2,381 Northern Trust Co. (NASDAQ:NTRS)

Choreo LLC acquired a new position in Northern Trust Co. (NASDAQ:NTRS) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,381 shares of the asset manager’s stock, valued at approximately $201,000.

Several other institutional investors have also recently made changes to their positions in the business. FMR LLC lifted its holdings in Northern Trust by 1.2% in the third quarter. FMR LLC now owns 10,791,735 shares of the asset manager’s stock valued at $749,810,000 after acquiring an additional 126,172 shares during the period. Primecap Management Co. CA increased its stake in shares of Northern Trust by 4.2% in the 3rd quarter. Primecap Management Co. CA now owns 6,497,047 shares of the asset manager’s stock valued at $451,415,000 after purchasing an additional 264,805 shares in the last quarter. Northern Trust Corp raised its holdings in Northern Trust by 1.5% in the 3rd quarter. Northern Trust Corp now owns 5,955,048 shares of the asset manager’s stock worth $413,757,000 after purchasing an additional 89,696 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Northern Trust by 1.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,980,072 shares of the asset manager’s stock worth $346,015,000 after purchasing an additional 64,707 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Northern Trust by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,486,840 shares of the asset manager’s stock valued at $311,746,000 after purchasing an additional 119,484 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NTRS shares. Jefferies Financial Group increased their target price on Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Royal Bank of Canada increased their price objective on shares of Northern Trust from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Bank of America upped their price target on shares of Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Morgan Stanley reiterated an “underweight” rating and issued a $86.00 price objective (up from $82.00) on shares of Northern Trust in a report on Tuesday, January 30th. Finally, UBS Group increased their target price on Northern Trust from $72.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $84.92.

Insider Buying and Selling

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

Northern Trust Stock Performance

NASDAQ NTRS opened at $84.62 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.71. The stock’s fifty day moving average is $83.99 and its two-hundred day moving average is $80.06. The firm has a market capitalization of $17.31 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 1.21 and a beta of 1.13. Northern Trust Co. has a fifty-two week low of $62.44 and a fifty-two week high of $89.25.

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 issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Friday, June 7th. Northern Trust’s dividend payout ratio is currently 66.23%.

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.