Stevens Capital Management LP Decreases Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Stevens Capital Management LP trimmed its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 11.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,803 shares of the asset manager’s stock after selling 864 shares during the quarter. Stevens Capital Management LP’s holdings in Northern Trust were worth $574,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its stake 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 in the last quarter. Primecap Management Co. CA raised its holdings in shares of Northern Trust by 4.2% during the third quarter. Primecap Management Co. CA now owns 6,497,047 shares of the asset manager’s stock worth $451,415,000 after purchasing an additional 264,805 shares during the last quarter. Northern Trust Corp grew its position in Northern Trust by 1.5% during the third quarter. Northern Trust Corp now owns 5,955,048 shares of the asset manager’s stock valued at $413,757,000 after buying an additional 89,696 shares during the period. Massachusetts Financial Services Co. MA grew 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 valued at $346,015,000 after buying an additional 64,707 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of 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. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Steven L. Fradkin sold 30,392 shares of the firm’s 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 completion of the sale, the insider now owns 55,707 shares of the company’s stock, valued at $4,462,687.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

NTRS has been the topic of a number of recent research reports. Jefferies Financial Group boosted their price target on shares of Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Barclays upped their target price on shares of Northern Trust from $90.00 to $98.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Morgan Stanley reiterated an “underweight” rating and issued a $86.00 price target (up previously from $82.00) on shares of Northern Trust in a research report on Tuesday, January 30th. Evercore ISI upped their price objective on shares of 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 increased their price target on shares of Northern Trust from $72.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $84.92.

Northern Trust Trading Down 1.0 %

Shares of Northern Trust stock traded down $0.86 during mid-day trading on Thursday, hitting $83.44. 1,595,413 shares of the stock were exchanged, compared to its average volume of 1,520,945. The company has a 50-day simple moving average of $83.55 and a 200 day simple moving average of $79.38. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Northern Trust Co. has a twelve month low of $62.44 and a twelve month high of $89.25. The stock has a market capitalization of $17.02 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 1.21 and a beta of 1.13.

Northern Trust Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.00 annualized dividend and a yield of 3.60%. Northern Trust’s payout ratio is 66.23%.

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.