Northern Trust Co. (NASDAQ:NTRS) Shares Acquired by Pacer Advisors Inc.
Pacer Advisors Inc. grew its position in Northern Trust Co. (NASDAQ:NTRS) by 13.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,976 shares of the asset manager’s stock after acquiring an additional 2,493 shares during the quarter. Pacer Advisors Inc.’s holdings in Northern Trust were worth $1,888,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NTRS. Litman Gregory Asset Management LLC acquired a new stake in shares of Northern Trust during the second quarter worth $25,000. Resources Investment Advisors Inc. raised its holdings in Northern Trust by 194.2% in the first quarter. Resources Investment Advisors Inc. now owns 306 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 202 shares in the last quarter. Trust Co. of Vermont boosted its stake in Northern Trust by 750.0% during the 2nd quarter. Trust Co. of Vermont now owns 340 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 300 shares during the last quarter. Kavar Capital Partners LLC bought a new position in Northern Trust during the 2nd quarter valued at $32,000. Finally, Oakworth Capital Inc. acquired a new position in Northern Trust during the 2nd quarter worth $34,000. Institutional investors and hedge funds own 80.88% of the company’s stock.
Shares of NTRS traded up $1.29 during midday trading on Wednesday, hitting $95.76. The stock had a trading volume of 27,943 shares, compared to its average volume of 906,367. Northern Trust Co. has a fifty-two week low of $75.96 and a fifty-two week high of $107.45. The business has a 50-day simple moving average of $90.40 and a two-hundred day simple moving average of $91.58. The firm has a market cap of $20.30 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 1.66 and a beta of 1.19. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.92%. This is a positive change from Northern Trust’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, September 12th. Northern Trust’s dividend payout ratio (DPR) is currently 35.66%.
Several research firms have recently weighed in on NTRS. Deutsche Bank dropped their target price on shares of Northern Trust from $91.00 to $87.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Wells Fargo & Co set a $110.00 target price on shares of Northern Trust and gave the stock a “buy” rating in a research report on Friday, August 16th. Citigroup lowered shares of Northern Trust from a “neutral” rating to a “sell” rating and dropped their price target for the company from $94.00 to $85.00 in a research note on Friday, July 12th. BidaskClub lowered shares of Northern Trust from a “hold” rating to a “sell” rating in a research note on Monday, August 12th. Finally, Morgan Stanley set a $89.00 price target on Northern Trust and gave the company a “sell” rating in a report on Friday, August 9th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $104.00.
In related news, EVP Robert P. Browne sold 12,156 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $86.88, for a total value of $1,056,113.28. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Biff Bowman sold 46,204 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $92.81, for a total transaction of $4,288,193.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,567 shares of company stock valued at $10,639,832. 1.15% of the stock is owned by corporate insiders.
Northern Trust 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, Corporate & Institutional Services (C&IS) and Wealth Management.
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