Sei Investments Co. Grows Stock Position in Northern Trust Corporation $NTRS

Sei Investments Co. raised its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 877.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 284,668 shares of the asset manager’s stock after acquiring an additional 255,550 shares during the quarter. Sei Investments Co. owned approximately 0.15% of Northern Trust worth $39,732,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at Northern Trust

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

Northern Trust Stock Performance

Shares of NTRS opened at $180.52 on Monday. Northern Trust Corporation has a fifty-two week low of $121.12 and a fifty-two week high of $191.60. The company has a market capitalization of $33.41 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 1.14 and a beta of 1.25. The stock has a fifty day moving average of $174.80 and a two-hundred day moving average of $157.97. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.62 and a current ratio of 0.65.

Northern Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be given a $0.88 dividend. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. Northern Trust’s dividend payout ratio (DPR) is presently 27.47%.

Analyst Upgrades and Downgrades

NTRS has been the topic of a number of analyst reports. Keefe, Bruyette & Woods increased their target price on Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a report on Thursday, July 9th. Truist Financial upped their price objective on Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research report on Friday, June 26th. The Goldman Sachs Group increased their price objective on Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a research note on Wednesday, April 22nd. BMO Capital Markets raised 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. Finally, Evercore set a $179.00 price objective on Northern Trust in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $180.25.

Northern Trust Company 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.