Northern Trust (NASDAQ:NTRS) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Northern Trust (NASDAQ:NTRS) to a hold rating in a research report sent to investors on Thursday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Royal Bank Of Canada set a $123.00 target price on shares of Northern Trust and gave the stock an “outperform” rating in a research report on Monday, June 30th. Truist Financial upped their target price on shares of Northern Trust from $132.00 to $142.00 and gave the stock a “hold” rating in a research report on Thursday. Citigroup upped their target price on shares of Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. Zacks Research lowered shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Finally, Wolfe Research upgraded shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $128.23.

Northern Trust Stock Down 0.6%

NTRS opened at $132.40 on Thursday. The firm’s 50-day simple moving average is $129.46 and its 200-day simple moving average is $114.69. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.72. Northern Trust has a twelve month low of $81.62 and a twelve month high of $135.48. The firm has a market cap of $25.32 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.57 and a beta of 1.31.

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

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 5th were issued a dividend of $0.80 per share. The ex-dividend date was Friday, September 5th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.4%. Northern Trust’s dividend payout ratio (DPR) is 37.60%.

Insider Activity at Northern Trust

In related news, Director Robert Edward Jr. Moritz acquired 256 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were acquired at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the acquisition, the director directly owned 2,525 shares in the company, valued at approximately $319,008.50. The trade was a 11.28% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Northern Trust

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC acquired a new stake in shares of Northern Trust during the second quarter worth $25,000. Continuum Advisory LLC raised its holdings 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 worth $27,000 after acquiring an additional 267 shares during the period. Hantz Financial Services Inc. grew its position in Northern Trust by 5,225.0% in the second quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 209 shares in the last quarter. AlphaCore Capital LLC grew its position in Northern Trust by 87.4% in the second quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 97 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in Northern Trust in the first quarter valued at $29,000. 83.19% of the stock is currently 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.