Northern Trust Corporation (NASDAQ:NTRS) Receives $136.00 Average PT from Brokerages

Northern Trust Corporation (NASDAQ:NTRS) has been given an average recommendation of “Hold” by the sixteen brokerages that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $136.00.

Several brokerages recently issued reports on NTRS. BMO Capital Markets began coverage on Northern Trust in a research report on Friday, October 3rd. They issued a “market perform” rating and a $142.00 price target on the stock. The Goldman Sachs Group restated a “sell” rating and set a $130.00 price target on shares of Northern Trust in a research note on Tuesday, January 6th. Truist Financial set a $148.00 price target on Northern Trust in a report on Wednesday, January 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a research note on Thursday, October 23rd. Finally, Citigroup upped their price objective on shares of Northern Trust from $135.00 to $143.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 30th.

Northern Trust Stock Up 0.8%

NTRS stock opened at $144.42 on Monday. The company has a market cap of $27.31 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 1.19 and a beta of 1.27. The company has a fifty day moving average price of $136.96 and a 200 day moving average price of $131.54. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.70 and a quick ratio of 0.70. Northern Trust has a 12 month low of $81.62 and a 12 month high of $148.98.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the business posted $2.22 earnings per share. Northern Trust’s quarterly revenue was up 2.8% on a year-over-year basis. Sell-side analysts expect that Northern Trust will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 6th will be given a $0.80 dividend. The ex-dividend date is Friday, March 6th. This represents a $3.20 dividend on an annualized basis and a yield of 2.2%. Northern Trust’s dividend payout ratio (DPR) is presently 37.30%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, insider John Landers sold 766 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $124.35, for a total transaction of $95,252.10. Following the transaction, the insider owned 7,313 shares in the company, valued at approximately $909,371.55. The trade was a 9.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Edward Jr. Moritz purchased 3,891 shares of Northern Trust stock in a transaction dated Tuesday, November 4th. The stock was acquired at an average cost of $128.57 per share, with a total value of $500,265.87. Following the completion of the acquisition, the director directly owned 6,686 shares in the company, valued at approximately $859,619.02. This trade represents a 139.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Northern Trust

A number of large investors have recently made changes to their positions in NTRS. Empowered Funds LLC increased its holdings in Northern Trust by 13.3% in the first quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock valued at $1,984,000 after buying an additional 2,363 shares in the last quarter. Woodline Partners LP increased its stake in Northern Trust by 39.1% in the 1st quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock valued at $1,633,000 after purchasing an additional 4,653 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Northern Trust by 0.4% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,798 shares of the asset manager’s stock worth $2,764,000 after purchasing an additional 95 shares during the last quarter. Swedbank AB boosted its position in Northern Trust by 141.8% during the second quarter. Swedbank AB now owns 48,422 shares of the asset manager’s stock worth $6,139,000 after purchasing an additional 28,395 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Northern Trust by 0.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 17,814 shares of the asset manager’s stock valued at $2,346,000 after purchasing an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

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.