Minot DeBlois Advisors LLC Purchases Shares of 15,958 Northern Trust Co. (NASDAQ:NTRS)

Minot DeBlois Advisors LLC purchased a new stake in shares of Northern Trust Co. (NASDAQ:NTRS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,958 shares of the asset manager’s stock, valued at approximately $1,636,000. Northern Trust accounts for 1.5% of Minot DeBlois Advisors LLC’s portfolio, making the stock its 15th largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in NTRS. Norges Bank acquired a new position in shares of Northern Trust during the fourth quarter worth about $83,550,000. KBC Group NV lifted its stake in shares of Northern Trust by 201.6% during the fourth quarter. KBC Group NV now owns 963,811 shares of the asset manager’s stock worth $98,791,000 after purchasing an additional 644,261 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Northern Trust by 451.9% during the fourth quarter. Cerity Partners LLC now owns 555,631 shares of the asset manager’s stock worth $56,866,000 after purchasing an additional 454,956 shares in the last quarter. ExodusPoint Capital Management LP acquired a new position in shares of Northern Trust during the fourth quarter worth about $42,715,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Northern Trust by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock worth $386,809,000 after purchasing an additional 388,692 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Activity

In other news, EVP Clive Bellows sold 3,300 shares of Northern Trust stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $99.95, for a total transaction of $329,835.00. Following the transaction, the executive vice president now directly owns 28,736 shares in the company, valued at approximately $2,872,163.20. This trade represents a 10.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas A. South sold 3,804 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total transaction of $429,852.00. Following the completion of the sale, the executive vice president now directly owns 81,794 shares of the company’s stock, valued at $9,242,722. The trade was a 4.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,571 shares of company stock valued at $1,410,397. 0.77% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NTRS. Morgan Stanley reduced their price objective on Northern Trust from $136.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 2nd. Wells Fargo & Company reduced their price objective on Northern Trust from $118.00 to $111.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 23rd. Truist Financial reduced their price objective on Northern Trust from $98.00 to $92.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. StockNews.com cut Northern Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Keefe, Bruyette & Woods boosted their price target on Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $110.83.

Northern Trust Trading Up 5.0%

Shares of NASDAQ NTRS opened at $105.65 on Tuesday. The stock’s 50 day moving average price is $95.00 and its two-hundred day moving average price is $102.92. Northern Trust Co. has a 52-week low of $79.68 and a 52-week high of $114.67. The stock has a market capitalization of $20.55 billion, a P/E ratio of 10.80, a PEG ratio of 1.72 and a beta of 1.18. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.05. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. On average, analysts anticipate that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, June 6th. Northern Trust’s dividend payout ratio (DPR) is presently 27.99%.

Northern Trust Company 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.