The Manufacturers Life Insurance Company lifted its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 11.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 228,881 shares of the asset manager’s stock after purchasing an additional 23,495 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.11% of Northern Trust worth $17,272,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its position in Northern Trust by 1.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,255 shares of the asset manager’s stock valued at $665,000 after purchasing an additional 110 shares in the last quarter. Mutual of America Capital Management LLC raised its position in Northern Trust by 0.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 28,884 shares of the asset manager’s stock valued at $2,180,000 after purchasing an additional 137 shares in the last quarter. Van ECK Associates Corp raised its position in Northern Trust by 17.6% in the 1st quarter. Van ECK Associates Corp now owns 1,024 shares of the asset manager’s stock valued at $77,000 after purchasing an additional 153 shares in the last quarter. Quadrant Capital Group LLC raised its position in Northern Trust by 26.5% in the 4th quarter. Quadrant Capital Group LLC now owns 758 shares of the asset manager’s stock valued at $72,000 after purchasing an additional 159 shares in the last quarter. Finally, Fiduciary Group LLC raised its position in Northern Trust by 1.6% in the 1st quarter. Fiduciary Group LLC now owns 12,425 shares of the asset manager’s stock valued at $938,000 after purchasing an additional 190 shares in the last quarter. Institutional investors and hedge funds own 82.63% of the company’s stock.

A number of equities research analysts have issued reports on the company. Goldman Sachs Group lowered Northern Trust from a “buy” rating to a “neutral” rating and reduced their price target for the company from $96.00 to $70.00 in a research report on Tuesday, March 24th. Bank of America reduced their price target on Northern Trust from $76.00 to $67.00 and set a “neutral” rating on the stock in a research report on Monday, March 23rd. Wells Fargo & Co raised their target price on Northern Trust from $95.00 to $108.00 in a research report on Friday, June 5th. JPMorgan Chase & Co. cut their target price on Northern Trust from $89.50 to $84.50 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Finally, Morgan Stanley raised their target price on Northern Trust from $92.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 25th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $87.21.

In related news, EVP Mark C. Gossett sold 5,115 shares of Northern Trust stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $83.08, for a total transaction of $424,954.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert P. Browne sold 5,000 shares of Northern Trust stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $84.82, for a total value of $424,100.00. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

NTRS opened at $76.30 on Tuesday. The firm has a market cap of $15.85 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 1.31 and a beta of 1.08. Northern Trust Co. has a 52 week low of $60.67 and a 52 week high of $110.48. The business’s 50 day moving average is $80.11 and its two-hundred day moving average is $88.49. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.41.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Tuesday, April 21st. The asset manager reported $1.55 EPS for the quarter, topping the consensus estimate of $1.45 by $0.10. Northern Trust had a return on equity of 15.18% and a net margin of 21.88%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the company posted $1.48 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. Equities analysts expect that Northern Trust Co. will post 5.42 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be paid a $0.70 dividend. The ex-dividend date is Thursday, June 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.67%. Northern Trust’s dividend payout ratio (DPR) is presently 42.23%.

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, Corporate & Institutional Services (C&IS) and Wealth Management.

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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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