LPL Financial LLC Has $6.62 Million Stake in Northern Trust Corporation (NASDAQ:NTRS)

LPL Financial LLC lifted its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 48.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 67,068 shares of the asset manager’s stock after buying an additional 21,884 shares during the quarter. LPL Financial LLC’s holdings in Northern Trust were worth $6,616,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Colonial Trust Co SC grew its position in shares of Northern Trust by 6,400.0% during the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock worth $27,000 after buying an additional 256 shares during the period. Continuum Advisory LLC grew its position in Northern Trust by 5,340.0% in the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 267 shares during the period. Wayfinding Financial LLC acquired a new stake in Northern Trust in the 1st quarter valued at $35,000. Coppell Advisory Solutions LLC acquired a new stake in Northern Trust in the 4th quarter valued at $44,000. Finally, True Wealth Design LLC grew its position in Northern Trust by 84.0% in the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager’s stock valued at $44,000 after purchasing an additional 194 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

NTRS has been the subject of several research reports. Truist Financial lifted their price target on shares of Northern Trust from $116.00 to $126.00 and gave the company a “hold” rating in a research report on Thursday, July 3rd. Wolfe Research raised shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $118.00 price target (down previously from $120.00) on shares of Northern Trust in a research report on Thursday, July 24th. Evercore ISI lifted their price target on shares of Northern Trust from $108.00 to $121.00 and gave the company an “in-line” rating in a research report on Wednesday, July 2nd. Finally, Morgan Stanley raised their price objective on Northern Trust from $103.00 to $106.00 and gave the company an “underweight” rating in a research note on Tuesday, July 1st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $116.58.

Northern Trust Trading Down 0.3%

Shares of Northern Trust stock opened at $125.24 on Tuesday. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $133.00. The stock’s 50-day simple moving average is $121.80 and its 200 day simple moving average is $108.79. The stock has a market capitalization of $23.95 billion, a P/E ratio of 14.72, a P/E/G ratio of 1.67 and a beta of 1.28. 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 announced its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.05. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the business posted $4.34 earnings per share. The company’s revenue was down 26.4% on a year-over-year basis. As a group, research analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.6%. This is a positive change from Northern Trust’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, September 5th. Northern Trust’s dividend payout ratio (DPR) is currently 35.25%.

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.