Northern Trust Co. (NASDAQ:NTRS) Receives $119.35 Consensus PT from Brokerages

Shares of Northern Trust Co. (NASDAQ:NTRSGet Rating) have received an average recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $119.35.

Several brokerages have recently weighed in on NTRS. Citigroup reduced their price target on Northern Trust from $125.00 to $100.00 in a report on Tuesday, July 12th. Piper Sandler lowered their price objective on Northern Trust from $141.00 to $121.00 and set an “overweight” rating for the company in a research report on Friday, June 24th. Wells Fargo & Company lowered their price target on Northern Trust from $141.00 to $121.00 and set an “overweight” rating for the company in a research report on Friday, July 1st. Morgan Stanley lifted their price target on Northern Trust from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 21st. Finally, Royal Bank of Canada reduced their price objective on Northern Trust from $133.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, July 1st.

Northern Trust Stock Down 2.3 %

NTRS stock opened at $95.31 on Friday. Northern Trust has a 1-year low of $89.68 and a 1-year high of $135.15. The business has a fifty day moving average price of $100.42 and a 200-day moving average price of $109.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.68. The stock has a market capitalization of $19.86 billion, a P/E ratio of 12.99 and a beta of 1.14.

Northern Trust (NASDAQ:NTRSGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The asset manager reported $1.86 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.07). Northern Trust had a return on equity of 14.82% and a net margin of 23.13%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the company earned $1.72 EPS. The business’s revenue was up 11.4% on a year-over-year basis. Equities analysts forecast that Northern Trust will post 7.41 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, September 8th. This represents a $3.00 dividend on an annualized basis and a yield of 3.15%. This is a positive change from Northern Trust’s previous quarterly dividend of $0.70. Northern Trust’s dividend payout ratio (DPR) is 38.15%.

Institutional Trading of Northern Trust

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Northern Trust by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 22,711,584 shares of the asset manager’s stock valued at $2,644,763,000 after purchasing an additional 457,748 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Northern Trust by 1.7% in the 1st quarter. BlackRock Inc. now owns 15,680,680 shares of the asset manager’s stock valued at $1,826,014,000 after purchasing an additional 260,843 shares during the last quarter. State Street Corp lifted its holdings in shares of Northern Trust by 3.0% during the 4th quarter. State Street Corp now owns 9,756,050 shares of the asset manager’s stock valued at $1,173,602,000 after acquiring an additional 284,401 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Northern Trust by 0.7% during the 1st quarter. JPMorgan Chase & Co. now owns 7,138,234 shares of the asset manager’s stock valued at $831,248,000 after acquiring an additional 51,625 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Northern Trust by 1.5% during the 1st quarter. American Century Companies Inc. now owns 4,814,305 shares of the asset manager’s stock valued at $560,626,000 after acquiring an additional 72,434 shares in the last quarter. Institutional investors and hedge funds own 81.35% of the company’s stock.

About Northern Trust

(Get Rating)

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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Analyst Recommendations for Northern Trust (NASDAQ:NTRS)

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