Northern Trust (NASDAQ:NTRS – Free Report) had its price objective hoisted by JPMorgan Chase & Co. from $170.00 to $179.50 in a report issued on Monday,Benzinga reports. They currently have a neutral rating on the asset manager’s stock.
NTRS has been the subject of a number of other reports. Morgan Stanley lifted their price objective on Northern Trust from $157.00 to $170.00 and gave the stock an “underweight” rating in a research report on Monday, June 29th. Royal Bank Of Canada lifted their price target on shares of Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Wells Fargo & Company increased their price objective on shares of Northern Trust from $175.00 to $189.00 and gave the company an “equal weight” rating in a report on Wednesday, June 24th. UBS Group set a $186.00 target price on shares of Northern Trust in a report on Friday, June 26th. Finally, Truist Financial upped their target price on shares of Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $175.18.
Check Out Our Latest Research Report on NTRS
Northern Trust Price Performance
Northern Trust (NASDAQ:NTRS – Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.34. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. Northern Trust’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.90 EPS. Sell-side analysts forecast that Northern Trust will post 11.21 earnings per share for the current fiscal year.
Northern Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, June 5th. Northern Trust’s payout ratio is presently 33.51%.
Insider Buying and Selling at Northern Trust
In other news, insider Clive Bellows sold 2,800 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 28,217 shares in the company, valued at $4,656,369.34. This represents a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David W. Fox, Jr. sold 19,987 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total value of $3,321,039.92. Following the transaction, the chief financial officer owned 18,588 shares of the company’s stock, valued at approximately $3,088,582.08. This trade represents a 51.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 22,800 shares of company stock valued at $3,785,251. 0.66% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Northern Trust
A number of institutional investors have recently added to or reduced their stakes in the company. RDA Financial Network bought a new position in shares of Northern Trust in the 2nd quarter valued at about $238,000. Basecamp Wealth Advisors LLC raised its holdings in shares of Northern Trust by 99.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 101 shares during the period. Parallel Advisors LLC raised its holdings in shares of Northern Trust by 10.3% in the 1st quarter. Parallel Advisors LLC now owns 1,910 shares of the asset manager’s stock valued at $267,000 after purchasing an additional 179 shares during the period. Vestor Capital LLC lifted its stake in Northern Trust by 131.1% in the 1st quarter. Vestor Capital LLC now owns 6,496 shares of the asset manager’s stock valued at $907,000 after purchasing an additional 3,685 shares during the last quarter. Finally, Groupe la Francaise grew its holdings in Northern Trust by 9.7% during the first quarter. Groupe la Francaise now owns 56,620 shares of the asset manager’s stock worth $7,902,000 after purchasing an additional 5,005 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.
Northern Trust News Summary
Here are the key news stories impacting Northern Trust this week:
- Positive Sentiment: Bank of America raised its price target on Northern Trust to $200 from $190 and kept a buy rating, signaling meaningful upside from current levels. Benzinga article
- Positive Sentiment: Northern Trust announced a new mandate from Invesco to provide administration, custody, and depositary services for a new Irish-domiciled index-tracking mutual fund range, expanding its asset-servicing business. Business Wire article
- Positive Sentiment: The company also picked up a fund administration assignment from TirNua Capital Partners, adding another sign of continued client wins in its institutional servicing franchise. Insider Monkey article
- Neutral Sentiment: JPMorgan also lifted its target on Northern Trust to $179.50 from $170, but kept a neutral rating, suggesting limited near-term downside but not a strong additional catalyst. Benzinga article
- Neutral Sentiment: Northern Trust said it will sell its Guardianship Services business to Wintrust, a portfolio reshaping move that may improve focus, though the financial impact was not detailed in the headlines provided. Seeking Alpha article
Northern Trust Company Profile
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.
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