Federated Hermes Inc. Raises Holdings in Northern Trust Corporation (NASDAQ:NTRS)

Federated Hermes Inc. raised its position in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 9.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 479,746 shares of the asset manager's stock after acquiring an additional 41,162 shares during the quarter. Federated Hermes Inc. owned approximately 0.25% of Northern Trust worth $47,327,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. LPL Financial LLC grew its position in shares of Northern Trust by 83.5% in the fourth quarter. LPL Financial LLC now owns 45,184 shares of the asset manager's stock valued at $4,631,000 after purchasing an additional 20,564 shares in the last quarter. Norges Bank purchased a new position in Northern Trust in the fourth quarter worth approximately $83,550,000. Pictet Asset Management Holding SA grew its position in Northern Trust by 4.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 134,208 shares of the asset manager's stock worth $13,756,000 after acquiring an additional 6,043 shares during the period. Allstate Corp purchased a new position in Northern Trust in the fourth quarter worth approximately $620,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Northern Trust by 136.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 380,891 shares of the asset manager's stock worth $39,041,000 after acquiring an additional 219,614 shares during the period. Institutional investors and hedge funds own 83.19% of the company's stock.

Insider Transactions at Northern Trust

In other news, insider Teresa Parker sold 6,467 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $100.62, for a total value of $650,709.54. Following the completion of the sale, the insider directly owned 79,391 shares of the company's stock, valued at approximately $7,988,322.42. The trade was a 7.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Clive Bellows sold 3,300 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the sale, the executive vice president directly owned 28,736 shares of the company's stock, valued at $2,872,163.20. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,772 shares of company stock valued at $981,069 over the last ninety days. 0.77% of the stock is owned by company insiders.

Northern Trust Stock Down 2.3%

NTRS traded down $2.94 on Friday, hitting $127.06. 1,409,350 shares of the company were exchanged, compared to its average volume of 1,570,245. The company has a market cap of $24.30 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 1.73 and a beta of 1.28. The company has a current ratio of 0.72, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $119.11 and a two-hundred day moving average price of $107.86. Northern Trust Corporation has a twelve month low of $80.81 and a twelve month high of $133.00.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.05. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%. Northern Trust's revenue for the quarter was down 26.4% on a year-over-year basis. During the same period in the previous year, the business earned $4.34 EPS. On average, equities analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be issued a dividend of $0.80 per share. This is a positive change from Northern Trust's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. Northern Trust's dividend payout ratio (DPR) is presently 35.25%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Truist Financial increased their price objective on Northern Trust from $116.00 to $126.00 and gave the stock a "hold" rating in a research report on Thursday, July 3rd. Royal Bank Of Canada set a $123.00 price objective on Northern Trust and gave the stock an "outperform" rating in a research report on Monday, June 30th. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and issued a $118.00 price objective (down from $120.00) on shares of Northern Trust in a research note on Thursday, July 24th. Evercore ISI lifted their price objective on Northern Trust from $108.00 to $121.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. Finally, Wolfe Research raised Northern Trust from an "underperform" rating to a "peer perform" rating in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $116.58.

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.