The Manufacturers Life Insurance Company Has $10.37 Million Stake in Northern Trust Co. (NASDAQ:NTRS)

The Manufacturers Life Insurance Company reduced its holdings in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 5.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 123,514 shares of the asset manager's stock after selling 6,925 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of Northern Trust worth $10,373,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. MBB Public Markets I LLC bought a new position in Northern Trust in the 2nd quarter worth approximately $1,286,000. D. E. Shaw & Co. Inc. increased its position in shares of Northern Trust by 5.4% during the second quarter. D. E. Shaw & Co. Inc. now owns 510,425 shares of the asset manager's stock valued at $42,865,000 after purchasing an additional 26,083 shares during the period. AQR Capital Management LLC increased its position in shares of Northern Trust by 55.1% during the second quarter. AQR Capital Management LLC now owns 597,146 shares of the asset manager's stock valued at $49,575,000 after purchasing an additional 212,089 shares during the period. Ariel Investments LLC increased its position in shares of Northern Trust by 3.6% during the second quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager's stock valued at $222,060,000 after purchasing an additional 91,816 shares during the period. Finally, AXA S.A. increased its position in shares of Northern Trust by 103.2% during the second quarter. AXA S.A. now owns 89,101 shares of the asset manager's stock valued at $7,483,000 after purchasing an additional 45,253 shares during the period. 83.19% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Charles A. Tribbett sold 1,855 shares of the company's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the transaction, the director now directly owns 1,000 shares of the company's stock, valued at $88,120. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Mark C. Gossett sold 6,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total transaction of $533,400.00. Following the completion of the transaction, the executive vice president now directly owns 28,707 shares of the company's stock, valued at approximately $2,552,052.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the transaction, the director now directly owns 1,000 shares of the company's stock, valued at $88,120. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,738 shares of company stock worth $1,191,388 over the last ninety days. 0.64% of the stock is currently owned by corporate insiders.

Northern Trust Trading Up 2.1 %

NASDAQ NTRS traded up $1.89 on Friday, reaching $90.46. The company had a trading volume of 929,150 shares, compared to its average volume of 1,310,005. The stock's 50 day moving average is $88.03 and its 200-day moving average is $85.77. The stock has a market cap of $18.51 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 1.53 and a beta of 1.08. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a 52 week low of $62.44 and a 52 week high of $92.82.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.75 by $0.03. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The firm's revenue was up 53.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.79 earnings per share. Equities analysts predict that Northern Trust Co. will post 7.01 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $3.00 annualized dividend and a dividend yield of 3.32%. Northern Trust's dividend payout ratio (DPR) is currently 66.23%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NTRS. Deutsche Bank Aktiengesellschaft boosted their price objective on Northern Trust from $84.00 to $94.00 and gave the company a "hold" rating in a research report on Monday, September 23rd. Morgan Stanley boosted their price target on Northern Trust from $93.00 to $97.00 and gave the company an "underweight" rating in a research note on Monday. Royal Bank of Canada boosted their price target on Northern Trust from $86.00 to $90.00 and gave the company an "outperform" rating in a research note on Thursday, July 18th. Keefe, Bruyette & Woods decreased their price target on Northern Trust from $92.00 to $85.00 and set a "market perform" rating on the stock in a research note on Thursday, June 27th. Finally, The Goldman Sachs Group lowered Northern Trust from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $84.00 to $82.00 in a research note on Thursday, September 26th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $89.75.

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.