Northern Trust Co. (NASDAQ:NTRS) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. increased its holdings in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 7.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 438,584 shares of the asset manager's stock after buying an additional 32,099 shares during the period. Federated Hermes Inc. owned about 0.22% of Northern Trust worth $44,955,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of NTRS. Ballentine Partners LLC raised its position in shares of Northern Trust by 4.4% in the 4th quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager's stock worth $255,000 after acquiring an additional 105 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Northern Trust by 24.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,061 shares of the asset manager's stock worth $2,286,000 after purchasing an additional 4,374 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of 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 buying an additional 388,692 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Northern Trust by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager's stock valued at $129,909,000 after buying an additional 8,102 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Northern Trust in the 4th quarter worth approximately $7,437,000. Hedge funds and other institutional investors own 83.19% of the company's stock.

Northern Trust Stock Performance

NASDAQ NTRS traded up $0.35 on Friday, reaching $88.29. 2,003,303 shares of the company's stock traded hands, compared to its average volume of 1,260,611. Northern Trust Co. has a fifty-two week low of $79.32 and a fifty-two week high of $114.67. 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 firm has a market cap of $17.28 billion, a price-to-earnings ratio of 9.03, a P/E/G ratio of 1.72 and a beta of 1.10. The stock has a 50 day moving average price of $102.30 and a 200-day moving average price of $102.93.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. Equities research analysts predict that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.75 per share. The ex-dividend date was Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.40%. Northern Trust's payout ratio is 30.67%.

Insider Activity

In other Northern Trust news, EVP Thomas A. South sold 3,804 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 of the company's stock, valued at approximately $9,242,722. This trade represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Landers sold 900 shares of the business's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $111.44, for a total transaction of $100,296.00. Following the completion of the sale, the insider now directly owns 7,640 shares of the company's stock, valued at approximately $851,401.60. The trade was a 10.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,335 shares of company stock valued at $3,970,211 in the last three months. 0.77% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NTRS shares. Evercore ISI lowered their target price on shares of Northern Trust from $113.00 to $104.00 and set an "in-line" rating for the company in a research note on Tuesday, April 1st. Royal Bank of Canada raised their price objective on Northern Trust from $107.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods upped their target price on Northern Trust from $113.00 to $122.00 and gave the company a "market perform" rating in a research report on Friday, January 24th. The Goldman Sachs Group raised their price target on Northern Trust from $92.00 to $102.00 and gave the stock a "sell" rating in a report on Friday, January 24th. Finally, Truist Financial cut their price objective on shares of Northern Trust from $116.00 to $98.00 and set a "hold" rating on the stock in a report on Friday, April 4th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $112.31.

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.