Northern Trust Corporation $NTRS Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its position in Northern Trust Corporation (NASDAQ:NTRS) by 877.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 284,668 shares of the asset manager’s stock after buying an additional 255,550 shares during the period. Sei Investments Co.’s holdings in Northern Trust were worth $39,732,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Reflection Asset Management acquired a new stake in Northern Trust during the fourth quarter worth about $25,000. Triumph Capital Management acquired a new position in shares of Northern Trust in the 3rd quarter valued at about $25,000. Elyxium Wealth LLC acquired a new stake in Northern Trust during the 4th quarter worth approximately $34,000. International Assets Investment Management LLC purchased a new position in Northern Trust in the fourth quarter valued at approximately $35,000. Finally, Transamerica Financial Advisors LLC grew its stake in Northern Trust by 54.1% during the fourth quarter. Transamerica Financial Advisors LLC now owns 265 shares of the asset manager’s stock worth $36,000 after buying an additional 93 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Buying and Selling at Northern Trust

In other news, CFO David W. Fox, Jr. sold 19,987 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total value of $3,321,039.92. Following the sale, the chief financial officer owned 18,588 shares in the company, valued at approximately $3,088,582.08. This represents a 51.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Edward Jr. Moritz purchased 225 shares of Northern Trust stock in a transaction dated Friday, May 1st. The shares were bought at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the transaction, the director directly owned 8,145 shares of the company’s stock, valued at approximately $1,355,409.45. The trade was a 2.84% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

NTRS has been the subject of several analyst reports. Weiss Ratings raised Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. BMO Capital Markets upgraded shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price objective on the stock in a research note on Monday, April 6th. Keefe, Bruyette & Woods boosted their target price on shares of Northern Trust from $157.00 to $175.00 and gave the stock an “underperform” rating in a research report on Thursday, July 9th. Wells Fargo & Company upped their target price on shares of Northern Trust from $189.00 to $194.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Evercore set a $179.00 price target on shares of Northern Trust in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $180.25.

Northern Trust Stock Performance

Northern Trust stock opened at $180.52 on Monday. Northern Trust Corporation has a 52 week low of $121.12 and a 52 week high of $191.60. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 0.43. The stock has a market cap of $33.41 billion, a P/E ratio of 15.50, a price-to-earnings-growth ratio of 1.14 and a beta of 1.25. The stock has a 50 day moving average of $174.80 and a 200-day moving average of $157.97.

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a dividend of $0.88 per share. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.9%. Northern Trust’s payout ratio is currently 27.47%.

Northern Trust Profile

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.