Shares of Northern Trust Co. (NASDAQ:NTRS) have earned an average recommendation of “Hold” from the seventeen research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $114.79.
NTRS has been the subject of several analyst reports. Zacks Investment Research cut shares of Northern Trust from a “buy” rating to a “hold” rating in a research report on Wednesday. Citigroup boosted their price objective on shares of Northern Trust from $108.00 to $118.00 and gave the company a “neutral” rating in a report on Friday, July 20th. BidaskClub upgraded shares of Northern Trust from a “sell” rating to a “hold” rating in a report on Friday, June 8th. Credit Suisse Group boosted their price objective on shares of Northern Trust from $112.00 to $114.00 and gave the company a “neutral” rating in a report on Friday, August 10th. Finally, Morgan Stanley boosted their price objective on shares of Northern Trust from $110.00 to $117.00 and gave the company a “$108.44” rating in a report on Thursday, July 19th.
In other news, insider Clair Joyce St sold 3,166 shares of the business’s stock in a transaction on Wednesday, July 18th. The shares were sold at an average price of $110.00, for a total value of $348,260.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Vice Chairman William L. Morrison sold 13,886 shares of the business’s stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $110.87, for a total transaction of $1,539,540.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,636 shares of company stock worth $8,488,828. Insiders own 1.04% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Royal London Asset Management Ltd. bought a new stake in shares of Northern Trust in the second quarter worth $8,987,000. Jane Street Group LLC raised its position in Northern Trust by 109.4% during the second quarter. Jane Street Group LLC now owns 24,023 shares of the asset manager’s stock worth $2,472,000 after acquiring an additional 12,548 shares in the last quarter. California Public Employees Retirement System raised its position in Northern Trust by 2.5% during the second quarter. California Public Employees Retirement System now owns 625,989 shares of the asset manager’s stock worth $64,408,000 after acquiring an additional 15,384 shares in the last quarter. Glenmede Trust Co. NA raised its position in Northern Trust by 40.8% during the second quarter. Glenmede Trust Co. NA now owns 555,391 shares of the asset manager’s stock worth $57,144,000 after acquiring an additional 160,906 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its position in Northern Trust by 64.2% during the second quarter. Qube Research & Technologies Ltd now owns 1,813 shares of the asset manager’s stock worth $187,000 after acquiring an additional 709 shares in the last quarter. 77.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:NTRS traded up $0.21 during trading on Friday, hitting $106.92. 35,855 shares of the company’s stock were exchanged, compared to its average volume of 1,185,543. Northern Trust has a 1-year low of $88.89 and a 1-year high of $115.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market cap of $23.49 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 1.23 and a beta of 0.92.
Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, July 18th. The asset manager reported $1.68 EPS for the quarter, topping the consensus estimate of $1.63 by $0.05. Northern Trust had a net margin of 22.88% and a return on equity of 15.02%. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the company earned $1.12 EPS. Northern Trust’s revenue was up 13.9% on a year-over-year basis. equities research analysts anticipate that Northern Trust will post 6.69 earnings per share for the current year.
Northern Trust declared that its Board of Directors has authorized a share buyback plan on Tuesday, July 17th that authorizes the company to repurchase 25,000,000 outstanding shares. This repurchase authorization authorizes the asset manager to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $2.20 dividend on an annualized basis and a yield of 2.06%. This is a positive change from Northern Trust’s previous quarterly dividend of $0.42. Northern Trust’s payout ratio is presently 45.55%.
Northern Trust Company Profile
Northern Trust Corporation, a financial holding company, provides asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates through Corporate & Institutional Services (C&IS) and Wealth Management segments.
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