Northern Trust Corp. (NTRS) Now Covered by Analysts at Credit Suisse Group AG
Credit Suisse Group AG began coverage on shares of Northern Trust Corp. (NASDAQ:NTRS) in a research report sent to investors on Tuesday. The brokerage issued a neutral rating and a $81.89 target price on the stock.
A number of other analysts have also issued reports on the company. Zacks Investment Research lowered Northern Trust Corp. from a buy rating to a hold rating in a report on Thursday, October 20th. raised their target price on Northern Trust Corp. from $70.00 to $73.00 and gave the company an underperform rating in a report on Friday, September 23rd. Deutsche Bank AG set a $71.00 target price on Northern Trust Corp. and gave the company a hold rating in a report on Friday, August 5th. Finally, Jefferies Group reaffirmed a hold rating and issued a $77.00 target price on shares of Northern Trust Corp. in a report on Monday, October 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $74.49.
Shares of Northern Trust Corp. (NASDAQ:NTRS) opened at 81.91 on Tuesday. The firm has a 50-day moving average price of $74.19 and a 200 day moving average price of $70.21. Northern Trust Corp. has a 12 month low of $54.38 and a 12 month high of $83.09. The firm has a market capitalization of $18.55 billion, a price-to-earnings ratio of 19.52 and a beta of 1.02.
Northern Trust Corp. (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, October 19th. The company reported $1.08 EPS for the quarter, missing the Zacks’ consensus estimate of $1.09 by $0.01. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.25 billion. Northern Trust Corp. had a net margin of 19.58% and a return on equity of 11.55%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.96 EPS. On average, analysts anticipate that Northern Trust Corp. will post $4.29 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Friday, December 2nd will be paid a dividend of $0.38 per share. The ex-dividend date is Wednesday, November 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.86%. Northern Trust Corp.’s dividend payout ratio (DPR) is presently 36.45%.
In other Northern Trust Corp. news, insider Clair Joyce St sold 1,820 shares of the business’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $73.00, for a total value of $132,860.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey D. Cohodes sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $81.23, for a total value of $812,300.00. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its position in Northern Trust Corp. by 651.4% in the second quarter. PNC Financial Services Group Inc. now owns 1,493,608 shares of the company’s stock worth $98,966,000 after buying an additional 1,294,825 shares during the last quarter. FMR LLC boosted its position in Northern Trust Corp. by 13.8% in the second quarter. FMR LLC now owns 8,583,519 shares of the company’s stock worth $568,744,000 after buying an additional 1,041,052 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Northern Trust Corp. by 11.0% in the second quarter. JPMorgan Chase & Co. now owns 7,738,990 shares of the company’s stock worth $512,786,000 after buying an additional 768,081 shares during the last quarter. Bank of Montreal Can acquired a new position in Northern Trust Corp. during the second quarter worth about $36,022,000. Finally, American Century Companies Inc. boosted its position in Northern Trust Corp. by 6.4% in the second quarter. American Century Companies Inc. now owns 7,702,813 shares of the company’s stock worth $510,388,000 after buying an additional 462,106 shares during the last quarter. 81.31% of the stock is owned by hedge funds and other institutional investors.
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About Northern Trust Corp.
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 around the world. The Company’s segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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