First Manhattan CO. LLC. Purchases 866 Shares of Northern Trust Co. (NASDAQ:NTRS)

First Manhattan CO. LLC. grew its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,159 shares of the asset manager’s stock after acquiring an additional 866 shares during the period. First Manhattan CO. LLC.’s holdings in Northern Trust were worth $7,657,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Northern Trust by 9.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock worth $386,809,000 after buying an additional 388,692 shares during the period. Nordea Investment Management AB lifted its stake in Northern Trust by 6.6% in the fourth quarter. Nordea Investment Management AB now owns 15,345 shares of the asset manager’s stock worth $1,576,000 after acquiring an additional 954 shares during the period. Czech National Bank lifted its stake in Northern Trust by 4.6% in the fourth quarter. Czech National Bank now owns 42,978 shares of the asset manager’s stock worth $4,405,000 after acquiring an additional 1,903 shares during the period. Brookstone Capital Management increased its position in Northern Trust by 16.5% during the 4th quarter. Brookstone Capital Management now owns 8,526 shares of the asset manager’s stock valued at $874,000 after purchasing an additional 1,210 shares during the period. Finally, Agate Pass Investment Management LLC bought a new position in Northern Trust in the 4th quarter worth $538,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Northern Trust news, EVP Thomas A. South sold 3,804 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total value of $429,852.00. Following the transaction, the executive vice president now owns 81,794 shares of the company’s stock, valued at approximately $9,242,722. This represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

NTRS has been the topic of a number of research reports. The Goldman Sachs Group lifted their target price on shares of Northern Trust from $92.00 to $102.00 and gave the company a “sell” rating in a research note on Friday, January 24th. StockNews.com downgraded Northern Trust from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Truist Financial lowered their target price on Northern Trust from $98.00 to $92.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company reduced their price target on Northern Trust from $118.00 to $111.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 23rd. Finally, Morgan Stanley lowered their price objective on Northern Trust from $136.00 to $132.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $110.83.

Northern Trust Trading Up 0.2 %

NASDAQ:NTRS opened at $100.59 on Friday. Northern Trust Co. has a 52 week low of $79.68 and a 52 week high of $114.67. The stock has a market cap of $19.57 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 1.72 and a beta of 1.18. The company’s 50 day moving average price is $94.99 and its 200-day moving average price is $102.88. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last issued its 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 business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.95 billion. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. On average, equities research analysts forecast that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Friday, June 6th. Northern Trust’s dividend payout ratio is currently 27.99%.

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.