Charles Schwab Investment Management Inc. Sells 16,883 Shares of Northern Trust Co. (NASDAQ:NTRS)

Charles Schwab Investment Management Inc. lowered its holdings in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,469,957 shares of the asset manager's stock after selling 16,883 shares during the period. Charles Schwab Investment Management Inc. owned approximately 2.16% of Northern Trust worth $377,175,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Aviance Capital Partners LLC grew its stake in shares of Northern Trust by 1.8% in the 4th quarter. Aviance Capital Partners LLC now owns 8,585 shares of the asset manager's stock valued at $724,000 after buying an additional 150 shares during the period. Apollon Wealth Management LLC bought a new stake in shares of Northern Trust in the 4th quarter worth $218,000. Machina Capital S.A.S. purchased a new stake in Northern Trust in the 4th quarter valued at about $227,000. M&T Bank Corp lifted its holdings in Northern Trust by 7.9% during the fourth quarter. M&T Bank Corp now owns 16,080 shares of the asset manager's stock worth $1,358,000 after acquiring an additional 1,184 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Northern Trust by 17,074.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 74,021 shares of the asset manager's stock worth $6,246,000 after purchasing an additional 73,590 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Price Performance

Northern Trust stock traded up $0.96 during midday trading on Wednesday, hitting $85.62. 1,047,297 shares of the company's stock were exchanged, compared to its average volume of 1,466,136. The company has a market cap of $17.52 billion, a P/E ratio of 18.83, a PEG ratio of 1.21 and a beta of 1.13. 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 has a 50-day moving average price of $84.12 and a two-hundred day moving average price of $80.50. Northern Trust Co. has a 52-week low of $62.44 and a 52-week high of $89.25.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Friday, June 7th. Northern Trust's dividend payout ratio (DPR) is 66.23%.

Insider Activity at Northern Trust

In other news, insider Steven L. Fradkin sold 30,392 shares of Northern Trust stock in a transaction 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 completion of 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 accessible through this hyperlink. In other news, insider Steven L. Fradkin sold 30,392 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 55,707 shares in the company, valued at approximately $4,462,687.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven L. Fradkin sold 4,097 shares of the business'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 value of $338,248.32. Following the completion of the sale, the insider now owns 46,078 shares of the company's stock, valued at approximately $3,804,199.68. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on NTRS. Royal Bank of Canada raised their target price on Northern Trust from $82.00 to $86.00 and gave the company an "outperform" rating in a research report on Friday, January 19th. Morgan Stanley reiterated an "underweight" rating and issued a $86.00 target price (up from $82.00) on shares of Northern Trust in a research note on Tuesday, January 30th. Jefferies Financial Group raised their price target on shares of Northern Trust from $101.00 to $103.00 and gave the stock a "buy" rating in a research note on Thursday, April 18th. Evercore ISI raised their target price on Northern Trust from $86.00 to $87.00 and gave the stock an "in-line" rating in a research report on Thursday, April 4th. Finally, UBS Group lifted their price objective on Northern Trust from $72.00 to $84.00 and gave the stock a "neutral" rating in a report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $84.92.

Northern Trust Company 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.