First Manhattan CO. LLC. Raises Stock Position in Northern Trust Co. (NASDAQ:NTRS)

First Manhattan CO. LLC. grew its holdings in Northern Trust Co. (NASDAQ:NTRS) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,159 shares of the asset manager’s stock after acquiring an additional 866 shares during the period. First Manhattan CO. LLC.’s holdings in Northern Trust were worth $7,657,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA boosted its stake in Northern Trust by 1.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,486,616 shares of the asset manager’s stock worth $767,378,000 after purchasing an additional 92,162 shares during the period. Geode Capital Management LLC boosted its position in shares of Northern Trust by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 4,904,871 shares of the asset manager’s stock worth $501,444,000 after acquiring an additional 30,908 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Northern Trust by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock valued at $386,809,000 after acquiring an additional 388,692 shares in the last quarter. Invesco Ltd. increased its holdings in Northern Trust by 7.5% in the 4th quarter. Invesco Ltd. now owns 2,885,312 shares of the asset manager’s stock valued at $295,744,000 after acquiring an additional 202,327 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Northern Trust by 1.6% in the 4th quarter. Wellington Management Group LLP now owns 2,532,401 shares of the asset manager’s stock worth $259,571,000 after purchasing an additional 39,592 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Insider Transactions at Northern Trust

In related news, EVP Thomas A. South sold 3,804 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total transaction of $429,852.00. Following the transaction, the executive vice president now directly owns 81,794 shares in the company, valued at $9,242,722. The trade was a 4.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NTRS. UBS Group raised their price objective on Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Bank of America reduced their price objective on Northern Trust from $123.00 to $121.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Evercore ISI decreased their target price on shares of Northern Trust from $104.00 to $100.00 and set an “in-line” rating on the stock in a research report on Wednesday, April 23rd. The Goldman Sachs Group increased their price target on Northern Trust from $92.00 to $102.00 and gave the company a “sell” rating in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Northern Trust currently has an average rating of “Hold” and a consensus price target of $110.83.

Northern Trust Stock Performance

NTRS stock opened at $100.59 on Friday. Northern Trust Co. has a 1-year low of $79.68 and a 1-year high of $114.67. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. The company has a market capitalization of $19.57 billion, a P/E ratio of 10.29, a PEG ratio of 1.72 and a beta of 1.18. The business has a 50-day moving average price of $94.99 and a 200 day moving average price of $102.88.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 EPS for the quarter, topping the consensus estimate of $1.85 by $0.05. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.95 billion. As a group, equities research analysts forecast that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Friday, June 6th. Northern Trust’s dividend payout ratio is currently 27.99%.

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.