The Manufacturers Life Insurance Company Has $13.74 Million Position in Northern Trust Corporation $NTRS

The Manufacturers Life Insurance Company reduced its stake in Northern Trust Corporation (NASDAQ:NTRS) by 8.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,418 shares of the asset manager’s stock after selling 8,916 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Northern Trust were worth $13,736,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. V Square Quantitative Management LLC grew its holdings in shares of Northern Trust by 1.3% during the 1st quarter. V Square Quantitative Management LLC now owns 4,793 shares of the asset manager’s stock worth $669,000 after purchasing an additional 61 shares in the last quarter. CWS Financial Advisors LLC lifted its stake in Northern Trust by 2.0% in the 1st quarter. CWS Financial Advisors LLC now owns 3,997 shares of the asset manager’s stock valued at $558,000 after purchasing an additional 77 shares during the last quarter. SJS Investment Consulting Inc. lifted its stake in shares of Northern Trust by 16.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 559 shares of the asset manager’s stock valued at $78,000 after acquiring an additional 79 shares during the last quarter. Compound Planning Inc. boosted its stake in shares of Northern Trust by 4.7% during the first quarter. Compound Planning Inc. now owns 1,770 shares of the asset manager’s stock valued at $247,000 after purchasing an additional 79 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its position in Northern Trust by 1.9% during the 4th quarter. Apollon Wealth Management LLC now owns 4,379 shares of the asset manager’s stock worth $598,000 after buying an additional 81 shares during the period. 83.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Bank of America upped their price target on Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Citigroup upped their price objective on shares of Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. Weiss Ratings raised shares of Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. The Goldman Sachs Group boosted their price objective on Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. Finally, Royal Bank Of Canada downgraded shares of Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 target price for the company. in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $180.25.

Insider Activity at Northern Trust

In related news, Director Robert Edward Jr. Moritz purchased 255 shares of Northern Trust stock in a transaction dated Wednesday, July 29th. The stock was bought at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the transaction, the director owned 8,400 shares in the company, valued at $1,508,388. This trade represents a 3.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is owned by insiders.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $182.19 on Monday. The stock has a market capitalization of $33.33 billion, a PE ratio of 15.64, a P/E/G ratio of 1.03 and a beta of 1.25. Northern Trust Corporation has a one year low of $121.12 and a one year high of $191.60. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. The business’s fifty day moving average price is $176.30 and its 200-day moving average price is $159.26.

Northern Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be issued a $0.88 dividend. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Friday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.9%. Northern Trust’s payout ratio is 27.47%.

Northern Trust Company Profile

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.