Northern Trust (NASDAQ:NTRS) Hits New 12-Month High – Still a Buy?

Northern Trust Co. (NASDAQ:NTRS)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $108.35 and last traded at $108.35, with a volume of 28470 shares trading hands. The stock had previously closed at $101.35.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NTRS. Morgan Stanley lifted their target price on Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. The Goldman Sachs Group lowered 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. Barclays boosted their price target on Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Evercore ISI boosted their price target on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Finally, Bank of America boosted their price target on Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $99.33.

Northern Trust Price Performance

The company has a 50 day moving average of $93.34 and a 200-day moving average of $87.79. The firm has a market capitalization of $20.86 billion, a P/E ratio of 13.09, a P/E/G ratio of 1.17 and a beta of 1.06. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 2.85%. Northern Trust’s dividend payout ratio (DPR) is presently 37.31%.

Insider Activity at Northern Trust

In related news, insider Teresa Parker sold 4,439 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $100.86, for a total value of $447,717.54. Following the completion of the sale, the insider now directly owns 79,326 shares in the company, valued at $8,000,820.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Teresa Parker sold 4,439 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $100.86, for a total transaction of $447,717.54. Following the completion of the sale, the insider now directly owns 79,326 shares in the company, valued at approximately $8,000,820.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark C. Gossett sold 6,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total value of $533,400.00. Following the transaction, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at $2,552,052.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,906 shares of company stock worth $7,647,652 in the last ninety days. 0.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Northern Trust

Institutional investors and hedge funds have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co increased its holdings in Northern Trust by 6.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 360,640 shares of the asset manager’s stock worth $32,111,000 after purchasing an additional 23,020 shares in the last quarter. Bessemer Group Inc. increased its holdings in Northern Trust by 668.0% in the 1st quarter. Bessemer Group Inc. now owns 20,205 shares of the asset manager’s stock worth $1,797,000 after purchasing an additional 17,574 shares in the last quarter. Intech Investment Management LLC increased its holdings in Northern Trust by 1,891.1% in the 1st quarter. Intech Investment Management LLC now owns 56,845 shares of the asset manager’s stock worth $5,055,000 after purchasing an additional 53,990 shares in the last quarter. Swedbank AB acquired a new position in Northern Trust in the 1st quarter worth about $1,407,000. Finally, Koshinski Asset Management Inc. acquired a new position in Northern Trust in the 1st quarter worth about $644,000. Institutional investors and hedge funds 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.