Northern Trust Co. (NASDAQ:NTRS) Receives $89.75 Average PT from Brokerages

Shares of Northern Trust Co. (NASDAQ:NTRS) have received an average recommendation of “Hold” from the twelve ratings firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $89.75.

NTRS has been the topic of several recent research reports. Morgan Stanley upped their target price on shares of Northern Trust from $93.00 to $97.00 and gave the company an “underweight” rating in a research report on Monday, September 30th. Royal Bank of Canada raised their price objective on Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Keefe, Bruyette & Woods cut their target price on Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a research report on Thursday, June 27th. The Goldman Sachs Group downgraded Northern Trust from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $84.00 to $82.00 in a research report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a research report on Monday, September 23rd.

Northern Trust Price Performance

Shares of Northern Trust stock opened at $90.46 on Tuesday. The firm has a market cap of $18.51 billion, a PE ratio of 19.97, a PEG ratio of 1.53 and a beta of 1.08. The stock has a 50 day moving average of $88.06 and a 200 day moving average of $85.86. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust has a 12 month low of $62.44 and a 12 month high of $92.82.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.03. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the firm posted $1.79 earnings per share. Northern Trust’s revenue for the quarter was up 53.8% compared to the same quarter last year. On average, research analysts expect that Northern Trust will post 7.01 EPS for the current fiscal year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Friday, September 6th. Northern Trust’s dividend payout ratio is 66.23%.

Insider Activity

In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction of $494,524.98. Following the transaction, the executive vice president now directly owns 83,765 shares in the company, valued at $7,041,285.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Mark C. Gossett sold 6,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total transaction of $533,400.00. Following the completion of the sale, the executive vice president now directly owns 28,707 shares in the company, valued at $2,552,052.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Teresa Parker sold 5,883 shares of Northern Trust stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the transaction, the executive vice president now owns 83,765 shares in the company, valued at $7,041,285.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,738 shares of company stock worth $1,191,388. Company insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC increased its position in Northern Trust by 18.4% during the 4th quarter. Parallel Advisors LLC now owns 1,317 shares of the asset manager’s stock valued at $111,000 after buying an additional 205 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Northern Trust by 5.1% during the fourth quarter. TD Asset Management Inc now owns 70,473 shares of the asset manager’s stock worth $5,947,000 after buying an additional 3,398 shares during the period. Stifel Financial Corp increased its position in shares of Northern Trust by 3.0% in the 4th quarter. Stifel Financial Corp now owns 98,659 shares of the asset manager’s stock valued at $8,325,000 after acquiring an additional 2,868 shares during the period. TFO Wealth Partners LLC raised its stake in Northern Trust by 30,762.5% in the 4th quarter. TFO Wealth Partners LLC now owns 2,469 shares of the asset manager’s stock worth $208,000 after acquiring an additional 2,461 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in Northern Trust by 2.4% during the 4th quarter. California State Teachers Retirement System now owns 327,252 shares of the asset manager’s stock worth $27,614,000 after acquiring an additional 7,698 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Company Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.