Federated Hermes Inc. Purchases 123,720 Shares of Northern Trust Co. (NASDAQ:NTRS)

Federated Hermes Inc. boosted its position in Northern Trust Co. (NASDAQ:NTRS) by 48.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 379,330 shares of the asset manager’s stock after acquiring an additional 123,720 shares during the period. Federated Hermes Inc. owned 0.19% of Northern Trust worth $31,856,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NTRS. Olistico Wealth LLC bought a new position in Northern Trust in the second quarter worth approximately $25,000. Innealta Capital LLC bought a new position in shares of Northern Trust in the second quarter valued at approximately $26,000. Spartan Planning & Wealth Management lifted its holdings in shares of Northern Trust by 10,566.7% in the fourth quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 317 shares in the last quarter. Ridgewood Investments LLC bought a new position in shares of Northern Trust in the second quarter valued at approximately $30,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Northern Trust by 343.9% in the second quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 337 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Insiders Place Their Bets

In other Northern Trust news, EVP Mark C. Gossett sold 6,000 shares of Northern Trust stock in a transaction dated 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 sale, the executive vice president now owns 28,707 shares of the company’s stock, valued at $2,552,052.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Teresa Parker sold 5,883 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the sale, the executive vice president now owns 83,765 shares of the company’s stock, valued at approximately $7,041,285.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark C. Gossett sold 6,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the sale, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $88.24 on Friday. The stock has a market cap of $18.05 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Northern Trust Co. has a fifty-two week low of $62.44 and a fifty-two week high of $92.46. The stock has a fifty day moving average of $87.05 and a 200-day moving average of $84.99. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

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

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.40%. The ex-dividend date is Friday, September 6th. Northern Trust’s dividend payout ratio (DPR) is currently 66.23%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NTRS shares. The Goldman Sachs Group dropped their target price on Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Keefe, Bruyette & Woods decreased their target price on Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a research report on Thursday, June 27th. Morgan Stanley decreased their target price on Northern Trust from $97.00 to $93.00 and set an “underweight” rating for the company in a research report on Tuesday, July 30th. Royal Bank of Canada raised their target price on Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Northern Trust from $85.00 to $84.00 and set a “hold” rating for the company in a research report on Thursday, August 15th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $88.75.

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, 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.