Stiles Financial Services Inc Buys 2,849 Shares of Northern Trust Corporation $NTRS

Stiles Financial Services Inc lifted its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 16.5% in the 2nd quarter, Holdings Channel reports. The fund owned 20,084 shares of the asset manager’s stock after acquiring an additional 2,849 shares during the quarter. Stiles Financial Services Inc’s holdings in Northern Trust were worth $2,546,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Continuum Advisory LLC boosted its holdings in Northern Trust by 5,340.0% during the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock worth $27,000 after purchasing an additional 267 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in Northern Trust during the first quarter worth $29,000. Wayfinding Financial LLC acquired a new position in Northern Trust during the first quarter worth $35,000. GFG Capital LLC acquired a new position in Northern Trust during the second quarter worth $35,000. Finally, Harbor Investment Advisory LLC boosted its holdings in Northern Trust by 68.4% during the second quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager’s stock worth $41,000 after purchasing an additional 130 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Performance

NASDAQ NTRS opened at $129.99 on Friday. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $135.48. The stock has a market cap of $24.86 billion, a PE ratio of 15.27, a P/E/G ratio of 1.46 and a beta of 1.31. The firm has a 50-day moving average of $129.51 and a 200-day moving average of $115.46. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.72.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, topping 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 business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the firm earned $4.34 earnings per share. Northern Trust’s revenue for the quarter was down 26.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Increases Dividend

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

Insider Buying and Selling

In other news, Director Robert Edward Jr. Moritz bought 256 shares of the firm’s stock in a transaction on Wednesday, August 13th. The shares were purchased at an average cost of $126.34 per share, with a total value of $32,343.04. Following the acquisition, the director directly owned 2,525 shares in the company, valued at $319,008.50. This represents a 11.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. TD Cowen assumed coverage on shares of Northern Trust in a report on Thursday, September 25th. They set a “buy” rating for the company. Truist Financial increased their price target on shares of Northern Trust from $132.00 to $142.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northern Trust in a research note on Wednesday. Wells Fargo & Company increased their price target on shares of Northern Trust from $120.00 to $127.00 and gave the company an “equal weight” rating in a research note on Friday, October 3rd. Finally, Zacks Research cut shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $128.23.

About Northern Trust

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.