Northern Trust Corporation (NASDAQ:NTRS) Receives Average Recommendation of “Hold” from Analysts

Northern Trust Corporation (NASDAQ:NTRS) has received a consensus recommendation of “Hold” from the fifteen research firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $180.6786.

NTRS has been the subject of several recent analyst reports. Bank of America increased their price objective on Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Truist Financial boosted their target price on shares of Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Zacks Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Citigroup lifted their price objective on shares of Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, June 30th. Finally, UBS Group set a $186.00 price target on Northern Trust in a report on Friday, June 26th.

Insider Buying and Selling

In related news, Director Robert Edward Jr. Moritz acquired 255 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were purchased at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the acquisition, the director directly owned 8,400 shares in the company, valued at approximately $1,508,388. This trade represents a 3.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.66% of the stock is currently owned by company insiders.

Institutional Trading of Northern Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Reflection Asset Management acquired a new stake in Northern Trust during the fourth quarter worth approximately $25,000. Triumph Capital Management bought a new position in shares of Northern Trust during the third quarter worth approximately $25,000. Basecamp Wealth Advisors LLC increased its stake in shares of Northern Trust by 99.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock worth $28,000 after purchasing an additional 101 shares during the period. Elyxium Wealth LLC acquired a new stake in Northern Trust during the 4th quarter worth approximately $34,000. Finally, International Assets Investment Management LLC bought a new stake in Northern Trust in the 4th quarter valued at $35,000. Institutional investors own 83.19% of the company’s stock.

Northern Trust Price Performance

NASDAQ:NTRS opened at $184.14 on Friday. Northern Trust has a 52-week low of $121.12 and a 52-week high of $191.60. The company has a market cap of $33.69 billion, a P/E ratio of 15.81, a P/E/G ratio of 1.04 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. The stock’s 50-day simple moving average is $177.48 and its 200 day simple moving average is $160.31.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.9%. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s payout ratio is 27.47%.

Northern Trust Company Profile

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.