Northern Trust (NASDAQ:NTRS) Sets New 1-Year High After Analyst Upgrade

Northern Trust Co. (NASDAQ:NTRS)’s stock price hit a new 52-week high on Tuesday after UBS Group raised their price target on the stock from $110.00 to $114.00. UBS Group currently has a neutral rating on the stock. Northern Trust traded as high as $112.52 and last traded at $112.38, with a volume of 153059 shares. The stock had previously closed at $111.48.

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley decreased their target price on Northern Trust from $127.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Friday, January 3rd. Wells Fargo & Company boosted their price objective on Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. StockNews.com raised Northern Trust from a “hold” rating to a “buy” rating in a research report on Friday. Truist Financial lifted their target price on shares of Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a research report on Friday. Finally, The Goldman Sachs Group increased their price target on shares of Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $112.58.

Insiders Place Their Bets

In related news, Vice Chairman Steven L. Fradkin sold 9,100 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $111.00, for a total value of $1,010,100.00. Following the completion of the transaction, the insider now owns 47,797 shares in the company, valued at $5,305,467. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas A. South sold 5,000 shares of Northern Trust stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $105.80, for a total value of $529,000.00. Following the completion of the sale, the executive vice president now directly owns 49,756 shares of the company’s stock, valued at $5,264,184.80. This trade represents a 9.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,253 shares of company stock valued at $3,238,073. 0.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Northern Trust

Institutional investors have recently modified their holdings of the business. FMR LLC boosted its holdings in Northern Trust by 9.3% during the third quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock worth $1,637,435,000 after buying an additional 1,542,685 shares during the last quarter. KBC Group NV raised its position in shares of Northern Trust by 201.6% in the 4th quarter. KBC Group NV now owns 963,811 shares of the asset manager’s stock valued at $98,791,000 after acquiring an additional 644,261 shares during the period. JPMorgan Chase & Co. boosted its stake in Northern Trust by 9.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock worth $386,809,000 after acquiring an additional 388,692 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Northern Trust by 62.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 678,461 shares of the asset manager’s stock valued at $69,542,000 after purchasing an additional 261,797 shares during the period. Finally, International Assets Investment Management LLC increased its stake in Northern Trust by 93,421.2% in the third quarter. International Assets Investment Management LLC now owns 185,172 shares of the asset manager’s stock valued at $152,194,000 after purchasing an additional 184,974 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Trading Up 0.8 %

The company has a market capitalization of $22.28 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 1.22 and a beta of 1.08. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $105.89 and its two-hundred day simple moving average is $96.76.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.30. Northern Trust had a return on equity of 12.75% and a net margin of 10.92%. Research analysts forecast that Northern Trust Co. will post 7.56 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 2.67%. Northern Trust’s payout ratio is 37.31%.

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.