Northern Trust (NASDAQ:NTRS) Sets New 52-Week High – Should You Buy?

Northern Trust Corporation (NASDAQ:NTRS) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $177.78 and last traded at $176.26, with a volume of 811677 shares changing hands. The stock had previously closed at $175.56.

Analyst Upgrades and Downgrades

NTRS has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price target on shares of Northern Trust from $153.50 to $170.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. The Goldman Sachs Group raised their price objective on shares of Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. Truist Financial boosted their target price on Northern Trust from $155.00 to $176.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Barclays increased their price objective on Northern Trust from $160.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 22nd. Finally, Royal Bank Of Canada lifted their price objective on Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Northern Trust has a consensus rating of “Hold” and an average target price of $164.08.

Northern Trust Trading Up 0.4%

The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62. The business’s 50-day moving average price is $166.51 and its 200 day moving average price is $151.14. The firm has a market capitalization of $32.62 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 1.26 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the business posted $1.90 earnings per share. Northern Trust’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, equities analysts forecast that Northern Trust Corporation will post 10.68 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, June 5th. Northern Trust’s payout ratio is currently 33.51%.

Insider Activity at Northern Trust

In related news, CFO David W. Fox, Jr. sold 19,987 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the transaction, the chief financial officer directly owned 18,588 shares in the company, valued at $3,088,582.08. This trade represents a 51.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Edward Jr. Moritz purchased 225 shares of Northern Trust stock in a transaction dated Friday, May 1st. The stock was acquired at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the transaction, the director owned 8,145 shares in the company, valued at approximately $1,355,409.45. The trade was a 2.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have sold 22,800 shares of company stock valued at $3,785,251. Corporate insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Triumph Capital Management acquired a new position in shares of Northern Trust during the third quarter worth approximately $25,000. Reflection Asset Management acquired a new position in Northern Trust during the fourth quarter worth about $25,000. Board of the Pension Protection Fund bought a new stake in shares of Northern Trust in the 4th quarter worth approximately $27,000. Elyxium Wealth LLC bought a new position in shares of Northern Trust in the fourth quarter valued at $34,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Northern Trust during the fourth quarter valued at $35,000. 83.19% of the stock is owned by institutional investors and hedge funds.

About Northern Trust

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.