Other analysts have also issued reports about the stock. Bank of America restated a neutral rating and issued a $97.00 price target (down from $107.00) on shares of Northern Trust in a research report on Thursday, June 6th. Zacks Investment Research lowered shares of Northern Trust from a buy rating to a hold rating in a research report on Friday, May 17th. Deutsche Bank decreased their price target on shares of Northern Trust from $93.00 to $91.00 and set a hold rating on the stock in a research report on Friday, August 9th. Citigroup lowered shares of Northern Trust from a neutral rating to a sell rating and decreased their price target for the stock from $94.00 to $85.00 in a research report on Friday, July 12th. Finally, Wells Fargo & Co raised their price target on shares of Northern Trust from $124.00 to $131.00 and gave the stock an outperform rating in a research report on Wednesday, May 8th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Northern Trust has a consensus rating of Hold and a consensus price target of $105.78.
NASDAQ:NTRS opened at $85.49 on Monday. Northern Trust has a 1 year low of $75.96 and a 1 year high of $109.72. The firm’s fifty day simple moving average is $92.34 and its 200 day simple moving average is $92.01. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $18.47 billion, a PE ratio of 12.70, a PEG ratio of 1.57 and a beta of 1.16.
Northern Trust (NASDAQ:NTRS) last posted its earnings results on Wednesday, July 24th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.07. Northern Trust had a net margin of 22.20% and a return on equity of 15.74%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the business posted $1.68 EPS. Northern Trust’s revenue was down .1% compared to the same quarter last year. As a group, analysts anticipate that Northern Trust will post 6.6 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.28%. This is an increase from Northern Trust’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, September 12th. Northern Trust’s dividend payout ratio (DPR) is presently 35.66%.
In other news, CFO Biff Bowman sold 46,204 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $92.81, for a total transaction of $4,288,193.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert P. Browne sold 31,595 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $99.47, for a total transaction of $3,142,754.65. The disclosure for this sale can be found here. Insiders have sold a total of 111,567 shares of company stock valued at $10,639,832 over the last ninety days. 1.15% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in NTRS. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Northern Trust by 65.3% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,482,148 shares of the asset manager’s stock worth $943,393,000 after acquiring an additional 4,139,159 shares during the period. American Century Companies Inc. lifted its holdings in shares of Northern Trust by 27.9% during the 1st quarter. American Century Companies Inc. now owns 5,452,010 shares of the asset manager’s stock worth $492,916,000 after acquiring an additional 1,190,787 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of Northern Trust by 7,487.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 853,911 shares of the asset manager’s stock worth $76,852,000 after acquiring an additional 842,657 shares during the period. Nuance Investments LLC lifted its holdings in shares of Northern Trust by 83.2% during the 2nd quarter. Nuance Investments LLC now owns 974,254 shares of the asset manager’s stock worth $87,683,000 after acquiring an additional 442,489 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Northern Trust by 438.6% during the 1st quarter. First Trust Advisors LP now owns 520,929 shares of the asset manager’s stock worth $47,097,000 after acquiring an additional 424,216 shares during the period. 79.89% of the stock is owned by institutional investors.
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, Corporate & Institutional Services (C&IS) and Wealth Management.
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