Pacer Advisors Inc. Has $1.89 Million Stake in Northern Trust Co. (NASDAQ:NTRS)
Pacer Advisors Inc. increased its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 13.5% during the 2nd quarter, Holdings Channel.com reports. The firm 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 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of NTRS. Nuance Investments LLC grew its position in shares of Northern Trust by 83.2% during the 2nd quarter. Nuance Investments LLC now owns 974,254 shares of the asset manager’s stock worth $87,683,000 after buying an additional 442,489 shares during the period. Renaissance Technologies LLC boosted its position in shares of Northern Trust by 288.1% in the 2nd quarter. Renaissance Technologies LLC now owns 97,398 shares of the asset manager’s stock worth $8,766,000 after purchasing an additional 72,300 shares during the last quarter. Veritable L.P. boosted its position in shares of Northern Trust by 11.1% in the 2nd quarter. Veritable L.P. now owns 11,292 shares of the asset manager’s stock worth $1,016,000 after purchasing an additional 1,124 shares during the last quarter. Crawford Investment Counsel Inc. grew its stake in shares of Northern Trust by 2.9% during the second quarter. Crawford Investment Counsel Inc. now owns 553,758 shares of the asset manager’s stock worth $49,838,000 after purchasing an additional 15,661 shares during the period. Finally, M&T Bank Corp grew its stake in shares of Northern Trust by 39.4% during the second quarter. M&T Bank Corp now owns 22,129 shares of the asset manager’s stock worth $1,992,000 after purchasing an additional 6,253 shares during the period. 80.88% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ NTRS traded up $1.29 during mid-day trading on Wednesday, reaching $95.76. 27,943 shares of the company’s stock were exchanged, compared to its average volume of 906,367. Northern Trust Co. has a twelve month low of $75.96 and a twelve month high of $107.45. 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 firm has a market capitalization of $20.30 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.66 and a beta of 1.19. The business has a fifty day simple moving average of $90.40 and a 200 day simple moving average of $91.58.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $2.80 dividend on an annualized basis and a yield of 2.92%. This is a positive change from Northern Trust’s previous quarterly dividend of $0.60. Northern Trust’s payout ratio is presently 35.66%.
Several research firms have weighed in on NTRS. BidaskClub lowered Northern Trust from a “hold” rating to a “sell” rating in a research note on Monday, August 12th. Bank of America reaffirmed a “neutral” rating and issued a $97.00 price target (down from $107.00) on shares of Northern Trust in a research note on Thursday, June 6th. Deutsche Bank cut their price target on shares of Northern Trust from $91.00 to $87.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Morgan Stanley set a $89.00 price objective on shares of Northern Trust and gave the stock a “sell” rating in a research note on Friday, August 9th. Finally, Zacks Investment Research cut shares of Northern Trust from a “buy” rating to a “hold” rating in a report on Friday, May 17th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $104.00.
In other Northern Trust news, CFO Biff Bowman sold 46,204 shares of Northern Trust stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $92.81, for a total value of $4,288,193.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Robert P. Browne sold 12,156 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $86.88, for a total value of $1,056,113.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,567 shares of company stock worth $10,639,832. Insiders own 1.15% of the company’s stock.
Northern Trust Company 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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