Northern Trust (NASDAQ:NTRS) Now Covered by Analysts at TD Cowen

TD Cowen initiated coverage on shares of Northern Trust (NASDAQ:NTRS) in a research report released on Thursday morning, Marketbeat reports. The firm issued a buy rating on the asset manager’s stock.

A number of other equities analysts have also issued reports on NTRS. Royal Bank Of Canada set a $123.00 target price on Northern Trust and gave the company an “outperform” rating in a research report on Monday, June 30th. Zacks Research lowered shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. Evercore ISI upped their target price on shares of Northern Trust from $108.00 to $121.00 and gave the company an “in-line” rating in a research note on Wednesday, July 2nd. Morgan Stanley lifted their price target on Northern Trust from $103.00 to $106.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 1st. Finally, Barclays upped their price objective on Northern Trust from $128.00 to $136.00 and gave the company an “equal weight” rating in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $119.58.

Northern Trust Price Performance

NTRS opened at $131.38 on Thursday. Northern Trust has a twelve month low of $81.62 and a twelve month high of $133.70. The firm has a market cap of $25.12 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.54 and a beta of 1.30. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. The company has a fifty day simple moving average of $128.75 and a 200 day simple moving average of $113.12.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.05. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the company posted $4.34 EPS. The firm’s revenue for the quarter was down 26.4% on a year-over-year basis. Equities research analysts expect that Northern Trust will post 8.27 EPS for the current fiscal year.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from Northern Trust’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, September 5th. Northern Trust’s dividend payout ratio is presently 37.60%.

Insider Activity

In other Northern Trust news, Director Robert Edward Jr. Moritz acquired 256 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The stock was acquired at an average cost of $126.34 per share, with a total value of $32,343.04. Following the acquisition, the director directly owned 2,525 shares of the company’s stock, valued at $319,008.50. This represents a 11.28% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. FNY Investment Advisers LLC acquired a new stake in Northern Trust in the second quarter worth about $25,000. AlphaCore Capital LLC lifted its stake in shares of Northern Trust by 87.4% in the 2nd quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock worth $27,000 after acquiring an additional 97 shares during the period. Hantz Financial Services Inc. lifted its stake in shares of Northern Trust by 5,225.0% in the 2nd 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. Clearstead Trust LLC acquired a new position in shares of Northern Trust during the second quarter valued at approximately $29,000. Finally, Continuum Advisory LLC increased its stake in shares of Northern Trust by 5,340.0% during the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 267 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.

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, 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.