Northern Trust (NASDAQ:NTRS) Sets New 12-Month High – Here’s What Happened

by · The Markets Daily

Shares of Northern Trust Corporation (NASDAQ:NTRS – Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $135.56 and last traded at $135.46, with a volume of 552507 shares changing hands. The stock had previously closed at $133.38.

Wall Street Analyst Weigh In

NTRS has been the subject of several recent analyst reports. Evercore ISI raised their target price on shares of Northern Trust from $125.00 to $135.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Northern Trust in a research note on Wednesday, October 8th. Zacks Research downgraded Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. BMO Capital Markets assumed coverage on Northern Trust in a report on Friday, October 3rd. They set a “market perform” rating and a $142.00 target price on the stock. Finally, Morgan Stanley increased their price target on Northern Trust from $110.00 to $131.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $132.46.

Check Out Our Latest Analysis on NTRS

Northern Trust Stock Performance

The firm has a market capitalization of $25.98 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 1.44 and a beta of 1.27. The company has a fifty day moving average of $128.98 and a two-hundred day moving average of $125.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.70 and a current ratio of 0.70.

Northern Trust (NASDAQ:NTRS – Get Free Report) last issued 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 return on equity of 14.37% and a net margin of 11.99%.The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the firm posted $2.22 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities research analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 5th will be paid a $0.80 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.20 annualized dividend and a yield of 2.3%. Northern Trust’s payout ratio is 37.30%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, insider John Landers sold 766 shares of the firm’s stock in a transaction 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 $909,371.55. This trade represents a 9.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Susan Cohen Levy sold 27,591 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total value of $3,535,234.83. Following the sale, the executive vice president owned 48,257 shares of the company’s stock, valued at approximately $6,183,169.41. The trade was a 36.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Northern Trust

A number of institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC acquired a new position in Northern Trust during the 2nd quarter worth about $25,000. Triumph Capital Management bought a new position in shares of Northern Trust during the third quarter worth about $25,000. Hantz Financial Services Inc. lifted its stake in shares of Northern Trust by 5,225.0% in the second quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock worth $27,000 after acquiring an additional 209 shares during the period. AlphaCore Capital LLC boosted its holdings in Northern Trust by 87.4% in the second quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 97 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in Northern Trust during the 1st quarter valued at approximately $29,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Company Profile

(Get Free Report)

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.

Recommended Stories