Tributary Capital Management LLC Purchases Shares of 592 Northern Trust Co. (NASDAQ:NTRS)

Tributary Capital Management LLC purchased a new stake in Northern Trust Co. (NASDAQ:NTRS) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 592 shares of the asset manager’s stock, valued at approximately $53,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Ballast Inc. increased its stake in Northern Trust by 1.1% in the fourth quarter. Ballast Inc. now owns 12,208 shares of the asset manager’s stock valued at $1,030,000 after purchasing an additional 136 shares during the last quarter. Mather Group LLC. grew its position in shares of Northern Trust by 3.6% during the fourth quarter. Mather Group LLC. now owns 4,271 shares of the asset manager’s stock worth $360,000 after acquiring an additional 147 shares during the last quarter. Aviance Capital Partners LLC grew its position in shares of Northern Trust by 1.8% during the fourth quarter. Aviance Capital Partners LLC now owns 8,585 shares of the asset manager’s stock worth $724,000 after acquiring an additional 150 shares during the last quarter. Diversified Trust Co grew its position in shares of Northern Trust by 1.9% during the fourth quarter. Diversified Trust Co now owns 8,531 shares of the asset manager’s stock worth $720,000 after acquiring an additional 156 shares during the last quarter. Finally, Quent Capital LLC grew its position in shares of Northern Trust by 77.8% during the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after acquiring an additional 158 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a research report on Tuesday. Jefferies Financial Group raised their target price on shares of Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Keefe, Bruyette & Woods decreased their price target on Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a report on Thursday, June 27th. Evercore ISI increased their price target on Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Finally, Bank of America increased their price target on Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $86.42.

Insiders Place Their Bets

In other news, insider Steven L. Fradkin sold 4,097 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total value of $338,248.32. Following the sale, the insider now directly owns 46,078 shares in the company, valued at $3,804,199.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Peter Cherecwich sold 12,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total value of $1,045,080.00. Following the sale, the insider now directly owns 31,471 shares in the company, valued at $2,740,809.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven L. Fradkin sold 4,097 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total transaction of $338,248.32. Following the completion of the sale, the insider now owns 46,078 shares in the company, valued at $3,804,199.68. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by company insiders.

Northern Trust Price Performance

Northern Trust stock opened at $84.23 on Wednesday. Northern Trust Co. has a one year low of $62.44 and a one year high of $89.25. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.71. The business has a fifty day moving average of $83.62 and a two-hundred day moving average of $83.17. The company has a market cap of $17.23 billion, a P/E ratio of 18.59, a price-to-earnings-growth ratio of 1.19 and a beta of 1.10.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Tuesday, April 16th. The asset manager reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.23. Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.79 billion. As a group, analysts predict that Northern Trust Co. will post 6.88 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, June 7th. This represents a $3.00 annualized dividend and a yield of 3.56%. Northern Trust’s dividend payout ratio (DPR) is currently 66.23%.

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, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.