Northern Trust (NASDAQ:NTRS) had its price target increased by Smith Barney Citigroup from $82.00 to $86.00 in a research note published on Friday, The Fly reports.
Several other brokerages have also recently issued reports on NTRS. Royal Bank of Canada increased their target price on Northern Trust from $80.00 to $90.00 and gave the company an outperform rating in a research report on Thursday, October 22nd. Wolfe Research cut Northern Trust from a peer perform rating to an underperform rating and set a $79.00 target price on the stock. in a research report on Thursday, July 9th. Bank of America increased their target price on Northern Trust from $84.00 to $85.00 and gave the company a neutral rating in a research report on Friday, July 10th. ValuEngine cut Northern Trust from a hold rating to a sell rating in a research report on Monday, August 3rd. Finally, Jefferies Financial Group raised Northern Trust from a hold rating to a buy rating and increased their target price for the company from $74.00 to $95.00 in a research report on Wednesday, July 8th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. Northern Trust has a consensus rating of Hold and an average target price of $88.84.
Shares of NASDAQ:NTRS opened at $82.23 on Friday. Northern Trust has a 52-week low of $60.67 and a 52-week high of $110.48. The stock has a market cap of $17.11 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 1.35 and a beta of 1.04. The business’s 50 day moving average is $81.75 and its 200 day moving average is $80.50. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.49.
Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, October 21st. The asset manager reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.06). The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.48 billion. Northern Trust had a return on equity of 14.21% and a net margin of 21.36%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period last year, the company earned $1.69 EPS. On average, sell-side analysts anticipate that Northern Trust will post 5.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 1st. Investors of record on Friday, December 11th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $2.80 dividend on an annualized basis and a yield of 3.41%. Northern Trust’s dividend payout ratio (DPR) is 42.23%.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Northern Trust by 21.9% in the 2nd quarter. Vanguard Group Inc. now owns 19,481,954 shares of the asset manager’s stock worth $1,545,700,000 after acquiring an additional 3,501,094 shares during the last quarter. State Farm Mutual Automobile Insurance Co. raised its stake in shares of Northern Trust by 1.6% during the 2nd quarter. State Farm Mutual Automobile Insurance Co. now owns 4,937,319 shares of the asset manager’s stock valued at $391,727,000 after buying an additional 75,569 shares during the last quarter. Nuance Investments LLC raised its stake in shares of Northern Trust by 41.7% during the 2nd quarter. Nuance Investments LLC now owns 2,251,305 shares of the asset manager’s stock valued at $178,619,000 after buying an additional 662,049 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Northern Trust by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,138,398 shares of the asset manager’s stock valued at $169,660,000 after buying an additional 17,612 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Northern Trust by 4.7% during the 2nd quarter. Bank of America Corp DE now owns 1,037,180 shares of the asset manager’s stock valued at $82,291,000 after buying an additional 46,137 shares during the last quarter. Institutional investors own 81.03% of the company’s stock.
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, Corporate & Institutional Services (C&IS) and Wealth Management.
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