Northern Trust Corporation (NASDAQ:NTRS) Receives Consensus Rating of “Hold” from Analysts

Shares of Northern Trust Corporation (NASDAQ:NTRS) have received a consensus recommendation of “Hold” from the sixteen analysts that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $178.75.

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group increased their price target on Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Wells Fargo & Company upped their price objective on shares of Northern Trust from $175.00 to $189.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 24th. Truist Financial raised their target price on shares of Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Finally, Morgan Stanley boosted their price target on shares of Northern Trust from $157.00 to $170.00 and gave the company an “underweight” rating in a report on Monday, June 29th.

Insider Buying and Selling at Northern Trust

In other news, CFO David W. Fox, Jr. sold 19,987 shares of Northern Trust 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 owned 18,588 shares in the company, valued at approximately $3,088,582.08. The trade was a 51.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Clive Bellows sold 2,800 shares of the company’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $165.02, for a total value of $462,056.00. Following the transaction, the insider directly owned 28,217 shares in the company, valued at $4,656,369.34. The trade was a 9.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,800 shares of company stock valued at $3,785,251 in the last three months. 0.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Northern Trust

Several institutional investors and hedge funds have recently bought and sold shares of NTRS. State Street Corp boosted its holdings in shares of Northern Trust by 1.0% during the third quarter. State Street Corp now owns 9,493,634 shares of the asset manager’s stock worth $1,285,236,000 after purchasing an additional 97,584 shares during the period. Invesco Ltd. increased its stake in Northern Trust by 8.7% in the 4th quarter. Invesco Ltd. now owns 3,747,840 shares of the asset manager’s stock valued at $511,917,000 after buying an additional 301,164 shares during the period. Goldman Sachs Group Inc. increased its stake in Northern Trust by 5.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock valued at $395,395,000 after buying an additional 161,826 shares during the period. Dimensional Fund Advisors LP lifted its position in Northern Trust by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager’s stock worth $342,744,000 after buying an additional 36,322 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Northern Trust by 4.3% during the 1st quarter. Bank of New York Mellon Corp now owns 2,036,137 shares of the asset manager’s stock valued at $284,184,000 after buying an additional 83,117 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Price Performance

NASDAQ NTRS opened at $183.55 on Monday. The stock has a market capitalization of $33.97 billion, a P/E ratio of 19.22, a P/E/G ratio of 1.17 and a beta of 1.25. Northern Trust has a 1 year low of $118.99 and a 1 year high of $185.57. The business’s fifty day moving average is $170.53 and its two-hundred day moving average is $154.85. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.90 EPS. On average, research analysts forecast that Northern Trust will post 11.29 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, June 5th. Northern Trust’s payout ratio is presently 33.51%.

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.