Northern Trust (NASDAQ:NTRS) Sets New 1-Year High on Analyst Upgrade

Northern Trust Corporation (NASDAQ:NTRSGet Free Report)’s stock price reached a new 52-week high on Wednesday after Wells Fargo & Company raised their price target on the stock from $175.00 to $189.00. Wells Fargo & Company currently has an equal weight rating on the stock. Northern Trust traded as high as $177.78 and last traded at $176.26, with a volume of 811677 shares traded. The stock had previously closed at $175.56.

NTRS has been the topic of several other research reports. Barclays lifted their price target on shares of Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a report on Wednesday, April 22nd. Zacks Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Truist Financial raised their target price on shares of Northern Trust from $155.00 to $176.00 and gave the stock a “hold” rating in a research report on Wednesday, April 22nd. Weiss Ratings raised shares of Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Finally, BMO Capital Markets raised shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 target price on the stock in a research note on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $165.25.

Get Our Latest Report on NTRS

Insider Activity

In related news, insider Clive Bellows sold 2,800 shares of Northern Trust stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $165.02, for a total transaction of $462,056.00. Following the sale, 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. The transaction 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 that occurred on Friday, May 1st. The stock was purchased at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the purchase, the director owned 8,145 shares of the company’s stock, valued at $1,355,409.45. This trade represents a 2.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 22,800 shares of company stock worth $3,785,251 in the last quarter. 0.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. CWM LLC raised its stake in shares of Northern Trust by 122.6% in the fourth quarter. CWM LLC now owns 48,284 shares of the asset manager’s stock worth $6,595,000 after purchasing an additional 26,594 shares during the last quarter. iSAM Funds UK Ltd purchased a new stake in shares of Northern Trust during the third quarter valued at $2,253,000. Cinctive Capital Management LP increased its holdings in Northern Trust by 113.7% in the 3rd quarter. Cinctive Capital Management LP now owns 28,939 shares of the asset manager’s stock worth $3,895,000 after buying an additional 15,398 shares in the last quarter. Barclays PLC increased its holdings in Northern Trust by 62.4% in the 3rd quarter. Barclays PLC now owns 1,042,084 shares of the asset manager’s stock worth $140,265,000 after buying an additional 400,247 shares in the last quarter. Finally, Swiss Life Asset Management Ltd raised its position in Northern Trust by 119.9% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 83,175 shares of the asset manager’s stock worth $11,195,000 after buying an additional 45,356 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Trading Up 1.2%

The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market cap of $32.56 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.25 and a beta of 1.25. The stock has a 50-day simple moving average of $167.31 and a two-hundred day simple moving average of $151.72.

Northern Trust (NASDAQ:NTRSGet Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the firm posted $1.90 EPS. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Northern Trust Corporation will post 10.68 EPS for the current year.

Northern Trust Announces Dividend

The business also recently announced 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. The ex-dividend date is Friday, June 5th. This represents a $3.20 annualized dividend and a yield of 1.8%. Northern Trust’s dividend payout ratio (DPR) is currently 33.51%.

About Northern Trust

(Get Free Report)

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.

Further Reading

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