Comerica Bank Buys 4,375 Shares of Northern Trust Co. (NASDAQ:NTRS)

Comerica Bank boosted its holdings in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 12.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,848 shares of the asset manager's stock after acquiring an additional 4,375 shares during the quarter. Comerica Bank's holdings in Northern Trust were worth $4,187,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Juncture Wealth Strategies LLC boosted its stake in shares of Northern Trust by 2.4% in the 4th quarter. Juncture Wealth Strategies LLC now owns 4,212 shares of the asset manager's stock worth $432,000 after buying an additional 100 shares during the last quarter. Ballentine Partners LLC boosted its position in Northern Trust by 4.4% in the fourth quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager's stock worth $255,000 after purchasing an additional 105 shares during the last quarter. Pallas Capital Advisors LLC boosted its position in Northern Trust by 1.8% in the fourth quarter. Pallas Capital Advisors LLC now owns 6,091 shares of the asset manager's stock worth $624,000 after purchasing an additional 107 shares during the last quarter. Bradley Foster & Sargent Inc. CT grew its stake in shares of Northern Trust by 2.4% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 4,774 shares of the asset manager's stock valued at $489,000 after purchasing an additional 114 shares during the period. Finally, Brooklyn Investment Group increased its position in shares of Northern Trust by 51.2% during the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager's stock valued at $39,000 after purchasing an additional 128 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Price Performance

Shares of Northern Trust stock traded up $4.35 on Monday, hitting $104.94. 283,223 shares of the company traded hands, compared to its average volume of 1,260,284. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. The business has a 50-day simple moving average of $94.99 and a 200 day simple moving average of $102.88. Northern Trust Co. has a 52 week low of $79.68 and a 52 week high of $114.67. The stock has a market capitalization of $20.41 billion, a P/E ratio of 10.71, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced 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 net margin of 12.77% and a return on equity of 13.74%. The business had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.95 billion. Research analysts expect that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

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 dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.86%. The ex-dividend date is Friday, June 6th. Northern Trust's dividend payout ratio is presently 27.99%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Bank of America dropped their price objective on shares of Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Evercore ISI dropped their price target on shares of Northern Trust from $104.00 to $100.00 and set an "in-line" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial cut their price objective on shares of Northern Trust from $98.00 to $92.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Royal Bank of Canada decreased their target price on Northern Trust from $115.00 to $105.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Finally, StockNews.com downgraded Northern Trust from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Northern Trust presently has a consensus rating of "Hold" and a consensus target price of $110.83.

Insider Transactions at Northern Trust

In other news, EVP Thomas A. South sold 3,804 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total value of $429,852.00. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.77% of the company's stock.

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.