Northern Trust (NASDAQ:NTRS) Upgraded by BMO Capital Markets to Hold Rating

BMO Capital Markets upgraded shares of Northern Trust (NASDAQ:NTRS) to a hold rating in a report issued on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the stock. Truist Financial raised their price objective on shares of Northern Trust from $132.00 to $142.00 and gave the stock a “hold” rating in a research note on Thursday. The Goldman Sachs Group set a $135.00 price objective on shares of Northern Trust in a research note on Tuesday. TD Cowen assumed coverage on shares of Northern Trust in a research note on Thursday, September 25th. They set a “buy” rating on the stock. Citigroup lifted their price target on shares of Northern Trust from $110.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, September 5th. Finally, Wells Fargo & Company lifted their price target on shares of Northern Trust from $120.00 to $127.00 and gave the company an “equal weight” rating in a research note on Friday. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Northern Trust presently has an average rating of “Hold” and an average price target of $128.23.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $132.40 on Thursday. The stock has a market capitalization of $25.32 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.58 and a beta of 1.31. Northern Trust has a 12 month low of $81.62 and a 12 month high of $135.48. The firm’s 50 day simple moving average is $129.46 and its 200-day simple moving average is $114.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.72.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.05. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The business’s revenue was down 26.4% on a year-over-year basis. During the same quarter last year, the company earned $4.34 EPS. Analysts expect that Northern Trust will post 8.27 EPS for the current year.

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, September 5th. This is an increase from Northern Trust’s previous quarterly dividend of $0.75. Northern Trust’s payout ratio is 37.60%.

Insiders Place Their Bets

In other news, Director Robert Edward Jr. Moritz acquired 256 shares of the firm’s stock in a transaction on Wednesday, August 13th. The shares were bought at an average price of $126.34 per share, for a total transaction of $32,343.04. Following the acquisition, the director owned 2,525 shares of the company’s stock, valued at approximately $319,008.50. This trade represents a 11.28% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC purchased a new position in Northern Trust in the 2nd quarter valued at $25,000. AlphaCore Capital LLC lifted its holdings in Northern Trust by 87.4% in the 2nd quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 97 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in Northern Trust by 5,225.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 209 shares in the last quarter. Clearstead Trust LLC purchased a new position in shares of Northern Trust during the 2nd quarter worth $29,000. Finally, Continuum Advisory LLC raised its holdings in shares of Northern Trust by 5,340.0% during the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock worth $27,000 after acquiring an additional 267 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Company Profile

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, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.