Sei Investments Co. Raises Position in Northern Trust Corp. (NTRS)
Sei Investments Co. increased its position in shares of Northern Trust Corp. (NASDAQ:NTRS) by 21.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,928 shares of the company’s stock after buying an additional 53,493 shares during the period. Sei Investments Co.’s holdings in Northern Trust Corp. were worth $20,460,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the stock. Financial Architects Inc raised its stake in Northern Trust Corp. by 5,936.0% in the second quarter. Financial Architects Inc now owns 1,509 shares of the company’s stock worth $100,000 after buying an additional 1,484 shares during the last quarter. Global X Management Co. LLC raised its stake in Northern Trust Corp. by 30.8% in the second quarter. Global X Management Co. LLC now owns 1,545 shares of the company’s stock worth $102,000 after buying an additional 364 shares during the last quarter. Creative Planning raised its stake in Northern Trust Corp. by 61.9% in the second quarter. Creative Planning now owns 1,755 shares of the company’s stock worth $116,000 after buying an additional 671 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Northern Trust Corp. by 71.7% in the third quarter. Advisors Asset Management Inc. now owns 1,717 shares of the company’s stock worth $117,000 after buying an additional 717 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in Northern Trust Corp. during the second quarter worth about $119,000. 79.70% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Northern Trust Corp. (NASDAQ:NTRS) traded up 1.24% during mid-day trading on Tuesday, reaching $81.59. The company had a trading volume of 318,390 shares. Northern Trust Corp. has a 52-week low of $54.38 and a 52-week high of $83.09. The company’s 50-day moving average is $75.14 and its 200 day moving average is $70.47. The stock has a market capitalization of $18.47 billion, a P/E ratio of 19.44 and a beta of 1.02.
Northern Trust Corp. (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, October 19th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by $0.01. Northern Trust Corp. had a return on equity of 11.55% and a net margin of 19.58%. The firm earned $1.22 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the business posted $0.96 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts anticipate that Northern Trust Corp. will post $4.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Friday, December 2nd will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Wednesday, November 30th. Northern Trust Corp.’s dividend payout ratio is 36.45%.
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Several research analysts have weighed in on the company. Zacks Investment Research upgraded Northern Trust Corp. from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a report on Wednesday, October 5th. Jefferies Group reiterated a “hold” rating and issued a $77.00 price target on shares of Northern Trust Corp. in a report on Monday, October 10th. Deutsche Bank AG boosted their price target on Northern Trust Corp. from $75.00 to $76.00 and gave the company a “hold” rating in a report on Friday, September 9th. Credit Suisse Group AG assumed coverage on Northern Trust Corp. in a report on Tuesday, November 22nd. They issued a “neutral” rating and a $71.00 price target for the company. Finally, boosted their price target on Northern Trust Corp. from $70.00 to $73.00 and gave the company an “underperform” rating in a report on Friday, September 23rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the company. Northern Trust Corp. currently has a consensus rating of “Hold” and an average target price of $73.65.
In related news, Vice Chairman William L. Morrison sold 98,239 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $72.57, for a total value of $7,129,204.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Frederick H. Waddell sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $81.99, for a total transaction of $16,398,000.00. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.
About Northern Trust Corp.
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals around the world. The Company’s segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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