Northern Trust Corporation $NTRS Stock Position Decreased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,418 shares of the asset manager's stock after selling 8,916 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.05% of Northern Trust worth $13,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of NTRS. State Street Corp raised its stake in shares of Northern Trust by 1.0% in the 3rd quarter. State Street Corp now owns 9,493,634 shares of the asset manager's stock valued at $1,285,236,000 after acquiring an additional 97,584 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Northern Trust by 8.7% in the fourth quarter. Invesco Ltd. now owns 3,747,840 shares of the asset manager's stock valued at $511,917,000 after buying an additional 301,164 shares during the period. Goldman Sachs Group Inc. increased its stake in Northern Trust by 5.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager's stock valued at $395,395,000 after acquiring an additional 161,826 shares during the period. Dimensional Fund Advisors LP increased its stake in Northern Trust by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager's stock valued at $342,744,000 after acquiring an additional 36,322 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Northern Trust by 4.3% in the 1st quarter. Bank of New York Mellon Corp now owns 2,036,137 shares of the asset manager's stock valued at $284,184,000 after acquiring an additional 83,117 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NTRS. Truist Financial raised their price objective on shares of Northern Trust from $176.00 to $186.00 and gave the stock a "hold" rating in a report on Friday, June 26th. Barclays raised their target price on Northern Trust from $176.00 to $189.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. Morgan Stanley boosted their price objective on shares of Northern Trust from $170.00 to $173.00 and gave the stock an "underweight" rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. upped their target price on shares of Northern Trust from $170.00 to $179.50 and gave the company a "neutral" rating in a research report on Monday, July 6th. Finally, The Goldman Sachs Group raised their price target on Northern Trust from $151.00 to $169.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $180.25.

Northern Trust Stock Performance

Shares of Northern Trust stock opened at $182.19 on Monday. Northern Trust Corporation has a one year low of $121.12 and a one year high of $191.60. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. The stock's 50-day moving average is $176.30 and its 200-day moving average is $159.26. The firm has a market cap of $33.33 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 1.03 and a beta of 1.25.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, September 4th. This is an increase from Northern Trust's previous quarterly dividend of $0.80. Northern Trust's dividend payout ratio (DPR) is presently 27.47%.

Insider Buying and Selling

In related news, Director Robert Edward Jr. Moritz purchased 255 shares of the firm's stock in a transaction on Wednesday, July 29th. The stock was purchased at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the purchase, the director directly owned 8,400 shares in the company, valued at $1,508,388. This trade represents a 3.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.66% of the company's stock.

Northern Trust Profile

Northern Trust Corporation NASDAQ: NTRS is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company's core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust's product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.

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