Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in Northern Trust Corporation (NASDAQ:NTRS)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 23.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,305 shares of the asset manager's stock after purchasing an additional 5,244 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Northern Trust were worth $2,653,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NTRS. Massachusetts Financial Services Co. MA grew its position in Northern Trust by 1.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,486,616 shares of the asset manager's stock worth $767,378,000 after buying an additional 92,162 shares during the period. Geode Capital Management LLC boosted its stake in shares of Northern Trust by 0.6% during the 4th 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 in the last quarter. Invesco Ltd. grew its holdings in shares of Northern Trust by 7.5% in the 4th quarter. Invesco Ltd. now owns 2,885,312 shares of the asset manager's stock worth $295,744,000 after acquiring an additional 202,327 shares during the period. Wellington Management Group LLP increased 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 valued at $259,571,000 after purchasing an additional 39,592 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Northern Trust by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,201,309 shares of the asset manager's stock worth $225,641,000 after purchasing an additional 62,605 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.

Analysts Set New Price Targets

NTRS has been the topic of several research reports. Evercore ISI upped their target price on Northern Trust from $108.00 to $121.00 and gave the company an "in-line" rating in a report on Wednesday. The Goldman Sachs Group increased their price objective on shares of Northern Trust from $89.00 to $101.00 and gave the company a "sell" rating in a research note on Wednesday. Citigroup dropped their target price on shares of Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Morgan Stanley upped their price target on shares of Northern Trust from $103.00 to $106.00 and gave the company an "underweight" rating in a report on Tuesday. Finally, Truist Financial raised their price objective on shares of Northern Trust from $116.00 to $126.00 and gave the stock a "hold" rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Northern Trust currently has an average rating of "Hold" and an average price target of $114.67.

Northern Trust Trading Down 0.3%

Shares of NTRS stock traded down $0.36 during mid-day trading on Friday, hitting $131.71. 1,442,540 shares of the company's stock were exchanged, compared to its average volume of 1,431,142. The stock has a market cap of $25.62 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.97 and a beta of 1.26. The stock has a 50-day simple moving average of $109.22 and a two-hundred day simple moving average of $104.57. Northern Trust Corporation has a fifty-two week low of $80.81 and a fifty-two week high of $133.00. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.57.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 EPS for the quarter, beating the consensus estimate of $1.85 by $0.05. The company had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.95 billion. Northern Trust had a return on equity of 13.73% and a net margin of 13.93%. Equities analysts expect that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Friday, June 6th. Northern Trust's dividend payout ratio (DPR) is 27.99%.

Insider Buying and Selling

In related news, insider Teresa Parker sold 6,467 shares of Northern Trust stock in a transaction on Friday, May 9th. The stock was sold at an average price of $100.62, for a total value of $650,709.54. Following the transaction, the insider owned 79,391 shares in the company, valued at approximately $7,988,322.42. This trade represents a 7.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the executive vice president directly owned 28,736 shares of the company's stock, valued at approximately $2,872,163.20. This trade represents a 10.30% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,772 shares of company stock worth $981,069. 0.77% of the stock is currently owned by insiders.

About Northern Trust

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.