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

Northern Trust Corporation (NASDAQ:NTRS)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $195.78 and last traded at $191.7390, with a volume of 14883 shares. The stock had previously closed at $191.33.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NTRS shares. JPMorgan Chase & Co. boosted their price target on shares of Northern Trust from $179.50 to $185.50 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Truist Financial raised their price target on Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a report on Friday, June 26th. The Goldman Sachs Group boosted their target price on shares of Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 22nd. Barclays boosted their target price on Northern Trust from $176.00 to $189.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Northern Trust currently has an average rating of “Hold” and a consensus price target of $180.68.

Northern Trust Stock Performance

The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average price is $179.86 and its 200 day moving average price is $161.99. The company has a market capitalization of $35.02 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 1.07 and a beta of 1.25.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.8%. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. Northern Trust’s dividend payout ratio is presently 27.47%.

Insider Transactions at Northern Trust

In other news, Director Robert Edward Jr. Moritz purchased 255 shares of Northern Trust stock in a transaction that occurred on Wednesday, July 29th. The shares were acquired at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the transaction, the director owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. The trade was a 3.13% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.66% of the stock is owned by insiders.

Hedge Funds Weigh In On Northern Trust

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Northern Trust during the 2nd quarter worth $2,523,781,000. State Street Corp increased its position in Northern Trust by 1.0% in the 3rd quarter. State Street Corp now owns 9,493,634 shares of the asset manager’s stock valued at $1,285,236,000 after buying an additional 97,584 shares in the last quarter. Primecap Management Co. CA acquired a new position in Northern Trust during the second quarter worth $1,060,553,000. Invesco Ltd. raised its stake in shares of Northern Trust by 8.7% in the fourth quarter. Invesco Ltd. now owns 3,747,840 shares of the asset manager’s stock worth $511,917,000 after purchasing an additional 301,164 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Northern Trust by 5.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock valued at $395,395,000 after purchasing an additional 161,826 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

About Northern Trust

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.