Northern Trust (NASDAQ:NTRS) Reaches New 52-Week High – Here’s What Happened

Northern Trust Corporation (NASDAQ:NTRS)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $187.55 and last traded at $187.77, with a volume of 24357 shares changing hands. The stock had previously closed at $184.10.

Analyst Ratings Changes

NTRS has been the topic of a number of research analyst reports. Bank of America raised their price target on Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods boosted their price objective on Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. raised their target price on shares of Northern Trust from $170.00 to $179.50 and gave the stock a “neutral” rating in a report on Monday, July 6th. Wells Fargo & Company lifted their price target on shares of Northern Trust from $175.00 to $189.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 24th. Finally, Evercore set a $179.00 price objective on shares of Northern Trust in a research report on Monday, July 6th. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $178.75.

Northern Trust Trading Up 1.5%

The company has a market capitalization of $34.58 billion, a P/E ratio of 19.57, a price-to-earnings-growth ratio of 1.17 and a beta of 1.25. The business has a fifty day moving average price of $170.88 and a 200 day moving average price of $155.16. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51.

Northern Trust (NASDAQ:NTRS) 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. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the firm earned $1.90 earnings per share. Northern Trust’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, analysts expect that Northern Trust Corporation will post 11.29 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a yield of 1.7%. Northern Trust’s dividend payout ratio is 33.51%.

Insider Transactions at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 225 shares of Northern Trust stock in a transaction that occurred on Friday, May 1st. The stock was acquired at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the acquisition, 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 position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO David W. Fox, Jr. sold 19,987 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the completion of the transaction, the chief financial officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 22,800 shares of company stock valued at $3,785,251 in the last ninety days. 0.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Northern Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC raised its holdings in Northern Trust by 13.3% during the first quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock worth $1,984,000 after acquiring an additional 2,363 shares in the last quarter. Woodline Partners LP grew its stake in Northern Trust by 39.1% in the first 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. EverSource Wealth Advisors LLC increased its position in shares of Northern Trust by 79.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock worth $171,000 after purchasing an additional 596 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of Northern Trust during the 2nd quarter worth approximately $267,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of Northern Trust by 4.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock worth $3,714,000 after purchasing an additional 1,275 shares in the last quarter. 83.19% of the stock is owned by institutional investors.

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.