Stiles Financial Services Inc Increases Stock Holdings in Northern Trust Corporation (NASDAQ:NTRS)

Stiles Financial Services Inc raised its holdings in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 27.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,235 shares of the asset manager's stock after acquiring an additional 3,686 shares during the quarter. Stiles Financial Services Inc's holdings in Northern Trust were worth $1,701,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Colonial Trust Co SC boosted its holdings in Northern Trust by 6,400.0% during the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock worth $27,000 after buying an additional 256 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock worth $39,000 after acquiring an additional 317 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of Northern Trust by 84.0% in the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager's stock worth $44,000 after acquiring an additional 194 shares during the period. Coppell Advisory Solutions LLC purchased a new position in Northern Trust in the 4th quarter valued at approximately $44,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Northern Trust by 83.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 494 shares of the asset manager's stock worth $51,000 after purchasing an additional 224 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Trading Down 2.2%

NASDAQ NTRS traded down $2.63 during trading hours on Tuesday, hitting $118.18. 4,712,139 shares of the company's stock were exchanged, compared to its average volume of 1,384,923. The business's 50 day moving average is $103.08 and its 200-day moving average is $103.36. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust Corporation has a 12-month low of $80.81 and a 12-month high of $123.31. The firm has a market capitalization of $22.99 billion, a P/E ratio of 11.02, a price-to-earnings-growth ratio of 1.83 and a beta of 1.22.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.95 billion. As a group, analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be issued a $0.75 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.54%. Northern Trust's dividend payout ratio (DPR) is presently 27.99%.

Insider Activity

In other Northern Trust news, insider Teresa Parker sold 6,467 shares of Northern Trust stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $100.62, for a total transaction of $650,709.54. Following the transaction, the insider now directly owns 79,391 shares of the company's stock, valued at $7,988,322.42. The trade was a 7.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Clive Bellows sold 3,300 shares of the 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 completion of the sale, the executive vice president now directly owns 28,736 shares of the company's stock, valued at $2,872,163.20. The trade was a 10.30% 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. Company insiders own 0.77% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on NTRS shares. Morgan Stanley restated an "underweight" rating and issued a $103.00 price target (up previously from $101.00) on shares of Northern Trust in a research report on Tuesday, June 3rd. Evercore ISI dropped their target price on shares of Northern Trust from $104.00 to $100.00 and set an "in-line" rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company reduced their price target on shares of Northern Trust from $118.00 to $111.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Truist Financial lowered their price target on shares of Northern Trust from $98.00 to $92.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Finally, Royal Bank Of Canada dropped their price objective on shares of Northern Trust from $115.00 to $105.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Northern Trust presently has a consensus rating of "Hold" and an average target price of $108.42.

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.