Raymond James Financial Inc. Sells 5,331 Shares of Northern Trust Corporation $NTRS

Raymond James Financial Inc. lowered its holdings in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 7.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,409 shares of the asset manager's stock after selling 5,331 shares during the period. Raymond James Financial Inc.'s holdings in Northern Trust were worth $6,650,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of Northern Trust by 47.8% in the first quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager's stock worth $178,637,000 after acquiring an additional 585,992 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Northern Trust by 4.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager's stock worth $774,411,000 after acquiring an additional 363,472 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of Northern Trust by 8.4% in the first quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager's stock worth $8,383,000 after acquiring an additional 6,570 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of Northern Trust by 529.4% in the first quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager's stock worth $45,515,000 after acquiring an additional 388,081 shares in the last quarter. Finally, Kathmere Capital Management LLC grew its position in Northern Trust by 96.7% during the first quarter. Kathmere Capital Management LLC now owns 5,239 shares of the asset manager's stock valued at $517,000 after purchasing an additional 2,575 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.

Northern Trust Stock Performance

Shares of NASDAQ NTRS traded down $2.22 during trading hours on Friday, hitting $127.27. 1,221,418 shares of the stock were exchanged, compared to its average volume of 912,691. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.72. The company's 50 day moving average is $128.11 and its 200 day moving average is $111.04. The firm has a market capitalization of $24.34 billion, a P/E ratio of 14.96, a P/E/G ratio of 1.51 and a beta of 1.30. Northern Trust Corporation has a one year low of $81.62 and a one year high of $133.00.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.05. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the firm earned $4.34 EPS. The business's revenue was down 26.4% on a year-over-year basis. On average, research analysts expect that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, September 5th. This is a positive change from Northern Trust's previous quarterly dividend of $0.75. Northern Trust's payout ratio is 37.60%.

Analyst Upgrades and Downgrades

NTRS has been the topic of a number of research analyst reports. Wolfe Research raised shares of Northern Trust from an "underperform" rating to a "peer perform" rating in a research report on Thursday, July 24th. Truist Financial boosted their price objective on shares of Northern Trust from $128.00 to $132.00 and gave the company a "hold" rating in a research report on Thursday, August 14th. Morgan Stanley lifted their target price on shares of Northern Trust from $103.00 to $106.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. The Goldman Sachs Group boosted their target price on shares of Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a research report on Wednesday, July 2nd. Finally, Royal Bank Of Canada set a $123.00 target price on shares of Northern Trust and gave the stock an "outperform" rating in a research report on Monday, June 30th. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Northern Trust has an average rating of "Reduce" and an average target price of $119.58.

Insider Activity at Northern Trust

In other news, Director Robert Edward Jr. Moritz bought 256 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was acquired at an average price of $126.34 per share, for a total transaction of $32,343.04. Following the transaction, the director directly owned 2,525 shares of the company's stock, valued at $319,008.50. This trade represents a 11.28% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.77% of the company's stock.

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.