Primecap Management Co. CA Purchases 38,360 Shares of Northern Trust Co. (NASDAQ:NTRS)

Primecap Management Co. CA lifted its position in Northern Trust Co. (NASDAQ:NTRS) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,085,117 shares of the asset manager’s stock after acquiring an additional 38,360 shares during the quarter. Primecap Management Co. CA owned 3.57% of Northern Trust worth $637,873,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NTRS. Massachusetts Financial Services Co. MA raised its holdings in Northern Trust by 13.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock worth $622,596,000 after purchasing an additional 850,556 shares in the last quarter. Panagora Asset Management Inc. grew its stake in shares of Northern Trust by 4,660.5% during the second quarter. Panagora Asset Management Inc. now owns 399,932 shares of the asset manager’s stock worth $33,586,000 after acquiring an additional 391,531 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Northern Trust by 12.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock worth $168,253,000 after acquiring an additional 219,387 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Northern Trust by 55.1% during the second quarter. AQR Capital Management LLC now owns 597,146 shares of the asset manager’s stock worth $49,575,000 after acquiring an additional 212,089 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Northern Trust by 93,421.2% during the third quarter. International Assets Investment Management LLC now owns 185,172 shares of the asset manager’s stock worth $152,194,000 after acquiring an additional 184,974 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NTRS shares. StockNews.com upgraded Northern Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Royal Bank of Canada upped their target price on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. UBS Group upped their target price on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Wells Fargo & Company upped their target price on Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. Finally, Morgan Stanley upped their target price on Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $100.67.

Northern Trust Stock Up 0.0 %

NASDAQ NTRS opened at $107.88 on Thursday. The business has a fifty day moving average price of $96.90 and a 200 day moving average price of $89.42. Northern Trust Co. has a one year low of $75.26 and a one year high of $109.54. 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 has a market cap of $21.38 billion, a P/E ratio of 13.42, a P/E/G ratio of 1.21 and a beta of 1.06.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s dividend payout ratio is currently 37.31%.

Insider Activity at Northern Trust

In other Northern Trust 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 value of $2,801,337.00. Following the completion of the sale, the insider now directly owns 46,078 shares in the company, valued at $4,630,839. This represents a 37.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $88,120. This represents a 64.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,906 shares of company stock valued at $8,176,652. 0.64% of the stock is owned by insiders.

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.