Sageworth Trust Co increased its stake in Northern Trust Co. (NASDAQ:NTRS) by 383.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,717 shares of the asset manager’s stock after purchasing an additional 1,362 shares during the period. Sageworth Trust Co’s holdings in Northern Trust were worth $155,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of NTRS. FMR LLC raised its position in shares of Northern Trust by 4.8% during the 1st quarter. FMR LLC now owns 8,605,350 shares of the asset manager’s stock valued at $778,009,000 after acquiring an additional 394,338 shares during the last quarter. American Century Companies Inc. raised its position in shares of Northern Trust by 27.9% during the 1st quarter. American Century Companies Inc. now owns 5,452,010 shares of the asset manager’s stock valued at $492,916,000 after acquiring an additional 1,190,787 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Northern Trust by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 2,953,900 shares of the asset manager’s stock valued at $246,501,000 after acquiring an additional 174,874 shares during the last quarter. Champlain Investment Partners LLC raised its position in shares of Northern Trust by 3.7% during the 1st quarter. Champlain Investment Partners LLC now owns 1,723,450 shares of the asset manager’s stock valued at $155,817,000 after acquiring an additional 60,785 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Northern Trust during the 4th quarter valued at $133,737,000. Hedge funds and other institutional investors own 78.74% of the company’s stock.
NASDAQ NTRS traded down $2.91 on Thursday, reaching $95.09. The company had a trading volume of 464,112 shares, compared to its average volume of 1,295,045. The firm has a market cap of $21.55 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 1.88 and a beta of 1.13. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.40. Northern Trust Co. has a 1-year low of $75.96 and a 1-year high of $112.73. The stock’s fifty day moving average price is $91.32.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, September 12th. This is a boost from Northern Trust’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a yield of 2.94%. Northern Trust’s payout ratio is 35.66%.
In other Northern Trust news, EVP Robert P. Browne sold 31,595 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $99.47, for a total transaction of $3,142,754.65. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold a total of 65,363 shares of company stock worth $6,351,639 over the last three months. Insiders own 1.15% of the company’s stock.
Several analysts have commented on NTRS shares. Deutsche Bank cut shares of Northern Trust from a “buy” rating to a “hold” rating and dropped their target price for the company from $104.00 to $91.00 in a research report on Tuesday, June 18th. BidaskClub upgraded shares of Northern Trust from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Citigroup cut shares of Northern Trust from a “neutral” rating to a “sell” rating and dropped their target price for the company from $94.00 to $85.00 in a research report on Friday, July 12th. Wells Fargo & Co upped their target price on shares of Northern Trust from $124.00 to $131.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. They noted that the move was a valuation call. Finally, Morgan Stanley boosted their price target on shares of Northern Trust from $85.00 to $91.00 and gave the company an “underweight” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Northern Trust presently has an average rating of “Hold” and an average price target of $105.92.
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, Corporate & Institutional Services (C&IS) and Wealth Management.
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