Federated Hermes Inc. Has $62.13 Million Stock Holdings in Northern Trust Corporation $NTRS

Federated Hermes Inc. lifted its position in Northern Trust Corporation (NASDAQ:NTRS) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 489,989 shares of the asset manager’s stock after purchasing an additional 10,243 shares during the quarter. Federated Hermes Inc. owned 0.26% of Northern Trust worth $62,126,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new stake in shares of Northern Trust during the second quarter worth approximately $25,000. Hantz Financial Services Inc. grew its position in Northern Trust by 5,225.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock worth $27,000 after acquiring an additional 209 shares during the last quarter. AlphaCore Capital LLC grew its position in Northern Trust by 87.4% during the 2nd quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock worth $27,000 after acquiring an additional 97 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in Northern Trust during the 1st quarter valued at $29,000. Finally, Clearstead Trust LLC bought a new position in Northern Trust in the 2nd quarter valued at $29,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Up 0.2%

Shares of NASDAQ:NTRS opened at $133.49 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market cap of $25.25 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 1.44 and a beta of 1.27. The company has a 50 day moving average of $129.01 and a 200-day moving average of $125.52. Northern Trust Corporation has a one year low of $81.62 and a one year high of $135.48.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $2.22 earnings per share. On average, sell-side analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.4%. Northern Trust’s payout ratio is 37.30%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NTRS. The Goldman Sachs Group set a $135.00 target price on Northern Trust in a research note on Tuesday, September 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Northern Trust in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Northern Trust from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. TD Cowen increased their price target on shares of Northern Trust from $152.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Finally, Evercore ISI raised their price target on shares of Northern Trust from $125.00 to $135.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $132.46.

Insider Buying and Selling at Northern Trust

In related news, insider John Landers sold 766 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $124.35, for a total value of $95,252.10. Following the sale, the insider directly owned 7,313 shares in the company, valued at $909,371.55. This trade represents a 9.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Susan Cohen Levy sold 27,591 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total transaction of $3,535,234.83. Following the transaction, the executive vice president owned 48,257 shares of the company’s stock, valued at approximately $6,183,169.41. This represents a 36.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.77% of the company’s stock.

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.