Northern Trust (NASDAQ:NTRS) had its target price hoisted by Morgan Stanley from $104.00 to $110.00 in a research note issued to investors on Friday morning. Morgan Stanley currently has an underweight rating on the asset manager’s stock.
NTRS has been the topic of a number of other research reports. Bank of America set a $102.00 target price on Northern Trust and gave the company a buy rating in a report on Thursday, October 19th. Zacks Investment Research lowered Northern Trust from a hold rating to a sell rating in a report on Tuesday, October 17th. Citigroup reaffirmed a neutral rating and issued a $92.00 target price (up previously from $90.00) on shares of Northern Trust in a report on Monday, October 9th. Wells Fargo & Co set a $105.00 target price on Northern Trust and gave the company a hold rating in a report on Wednesday, December 20th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $110.00 target price on shares of Northern Trust in a report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $104.81.
Shares of Northern Trust (NTRS) opened at $99.74 on Friday. The stock has a market capitalization of $22,680.00, a P/E ratio of 20.23, a price-to-earnings-growth ratio of 1.39 and a beta of 0.98. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.35. Northern Trust has a fifty-two week low of $83.17 and a fifty-two week high of $108.91.
Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, January 24th. The asset manager reported $1.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.05. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. Northern Trust had a return on equity of 12.77% and a net margin of 20.98%. The company’s revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.11 EPS. equities research analysts forecast that Northern Trust will post 6.02 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Friday, March 9th will be given a $0.42 dividend. The ex-dividend date is Thursday, March 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.68%. Northern Trust’s dividend payout ratio is currently 34.08%.
In related news, COO Jana R. Schreuder sold 2,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $99.02, for a total transaction of $257,452.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Stephen N. Potter sold 7,103 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $105.55, for a total value of $749,721.65. The disclosure for this sale can be found here. Insiders sold a total of 186,673 shares of company stock valued at $18,723,553 in the last quarter. Corporate insiders own 1.27% of the company’s stock.
Several institutional investors have recently bought and sold shares of NTRS. Alyeska Investment Group L.P. bought a new position in shares of Northern Trust during the 3rd quarter worth approximately $128,778,000. Arrowstreet Capital Limited Partnership raised its position in Northern Trust by 7,106.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 526,081 shares of the asset manager’s stock valued at $51,140,000 after purchasing an additional 518,781 shares during the last quarter. Bank of New York Mellon Corp raised its position in Northern Trust by 14.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,965,535 shares of the asset manager’s stock valued at $180,691,000 after purchasing an additional 255,106 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Northern Trust in the 3rd quarter valued at $23,359,000. Finally, Janus Henderson Group PLC raised its position in Northern Trust by 89.5% in the 3rd quarter. Janus Henderson Group PLC now owns 428,273 shares of the asset manager’s stock valued at $39,372,000 after purchasing an additional 202,222 shares during the last quarter. Institutional investors and hedge funds own 81.31% of the company’s stock.
About Northern Trust
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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