Ballentine Partners LLC Boosts Stock Position in Northern Trust Corporation (NASDAQ:NTRS)

Ballentine Partners LLC increased its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 90.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,729 shares of the asset manager's stock after acquiring an additional 2,246 shares during the quarter. Ballentine Partners LLC's holdings in Northern Trust were worth $467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of NTRS. Bank of New York Mellon Corp lifted its holdings in Northern Trust by 47.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager's stock worth $178,637,000 after buying an additional 585,992 shares during the period. Asset Management One Co. Ltd. raised its holdings in shares of Northern Trust by 8.4% during the first quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager's stock valued at $8,383,000 after acquiring an additional 6,570 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Northern Trust by 4,790.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 113,503 shares of the asset manager's stock worth $11,197,000 after acquiring an additional 111,182 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Northern Trust in the fourth quarter valued at $7,437,000. Finally, Alta Wealth Advisors LLC purchased a new position in Northern Trust during the 1st quarter valued at $413,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Stock Down 2.3%

NASDAQ NTRS traded down $2.97 during mid-day trading on Tuesday, reaching $123.60. The stock had a trading volume of 2,047,602 shares, compared to its average volume of 1,448,503. The stock has a market cap of $24.05 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 1.82 and a beta of 1.26. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust Corporation has a 1 year low of $80.81 and a 1 year high of $133.00. The company has a fifty day moving average price of $113.03 and a 200 day moving average price of $105.61.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.05. Northern Trust had a net margin of 13.93% and a return on equity of 13.73%. The firm had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.95 billion. On average, research analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were paid a $0.75 dividend. The ex-dividend date was Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.43%. Northern Trust's dividend payout ratio (DPR) is currently 27.99%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NTRS shares. Truist Financial lifted their target price on shares of Northern Trust from $116.00 to $126.00 and gave the company a "hold" rating in a research note on Thursday, July 3rd. Citigroup cut their price objective on Northern Trust from $110.00 to $105.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Bank of America decreased their target price on Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. The Goldman Sachs Group lifted their price target on Northern Trust from $89.00 to $101.00 and gave the company a "sell" rating in a research report on Wednesday, July 2nd. Finally, Morgan Stanley upped their target price on shares of Northern Trust from $103.00 to $106.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $114.50.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, EVP Clive Bellows sold 3,300 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $99.95, for a total value of $329,835.00. Following the transaction, the executive vice president directly owned 28,736 shares of the company's stock, valued at approximately $2,872,163.20. This trade represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Teresa Parker sold 6,467 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $100.62, for a total transaction of $650,709.54. Following the completion of the transaction, the insider owned 79,391 shares in the company, valued at $7,988,322.42. This trade represents a 7.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,772 shares of company stock valued at $981,069 in the last ninety days. 0.77% of the stock is currently owned by corporate insiders.

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.