Federated Hermes Inc. Boosts Stake in Northern Trust Corporation $NTRS

Federated Hermes Inc. lifted its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 7.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 524,394 shares of the asset manager’s stock after acquiring an additional 34,405 shares during the quarter. Federated Hermes Inc. owned 0.27% of Northern Trust worth $70,583,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of NTRS. Empowered Funds LLC raised its position in shares of Northern Trust by 13.3% in the 1st quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock valued at $1,984,000 after purchasing an additional 2,363 shares in the last quarter. Woodline Partners LP increased its stake in shares of Northern Trust by 39.1% in the first quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock worth $1,633,000 after buying an additional 4,653 shares during the last quarter. Perigon Wealth Management LLC acquired a new stake in Northern Trust in the second quarter valued at $208,000. HB Wealth Management LLC raised its holdings in Northern Trust by 12.8% in the second quarter. HB Wealth Management LLC now owns 4,159 shares of the asset manager’s stock valued at $527,000 after acquiring an additional 472 shares in the last quarter. Finally, Cooper Financial Group boosted its stake in Northern Trust by 7.1% during the 2nd quarter. Cooper Financial Group now owns 2,634 shares of the asset manager’s stock valued at $334,000 after acquiring an additional 175 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NTRS. Keefe, Bruyette & Woods boosted their target price on shares of Northern Trust from $123.00 to $125.00 and gave the stock an “underperform” rating in a research report on Thursday, October 23rd. TD Cowen boosted their price objective on Northern Trust from $165.00 to $175.00 and gave the company a “buy” rating in a report on Monday. Wells Fargo & Company increased their target price on Northern Trust from $145.00 to $150.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Truist Financial set a $148.00 price target on Northern Trust in a report on Wednesday, January 7th. Finally, Royal Bank Of Canada upped their price target on Northern Trust from $139.00 to $159.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $148.75.

Insider Activity

In related news, insider John Landers sold 766 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $124.35, for a total value of $95,252.10. Following the completion of the transaction, the insider directly owned 7,313 shares of the company’s stock, valued at $909,371.55. This represents a 9.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Edward Jr. Moritz purchased 3,891 shares of Northern Trust stock in a transaction on Tuesday, November 4th. The shares were acquired at an average price of $128.57 per share, with a total value of $500,265.87. Following the transaction, the director directly owned 6,686 shares in the company, valued at $859,619.02. This trade represents a 139.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 53,357 shares of company stock worth $7,370,987 in the last 90 days. 0.77% of the stock is currently owned by insiders.

Northern Trust Stock Up 0.2%

NASDAQ:NTRS opened at $150.25 on Thursday. The firm has a market capitalization of $28.42 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $157.60. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average of $139.39 and a 200-day moving average of $132.36.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Friday, January 30th. The asset manager reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.05. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The business had revenue of $3.15 billion during the quarter. During the same quarter in the prior year, the firm earned $2.26 EPS. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. Analysts predict that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 6th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, March 6th. Northern Trust’s dividend payout ratio (DPR) is 36.61%.

About Northern Trust

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.