Northern Trust Corporation (NASDAQ:NTRS) Receives $148.75 Consensus Price Target from Brokerages

Shares of Northern Trust Corporation (NASDAQ:NTRS) have been assigned a consensus rating of “Hold” from the fifteen ratings firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $148.75.

A number of research analysts have commented on the stock. Wall Street Zen raised shares of Northern Trust from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. Evercore upped their price target on shares of Northern Trust from $142.00 to $155.00 and gave the stock an “in-line” rating in a research report on Friday, January 23rd. Barclays increased their price objective on shares of Northern Trust from $136.00 to $160.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. TD Cowen boosted their price objective on shares of Northern Trust from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, Truist Financial set a $148.00 target price on Northern Trust in a report on Wednesday, January 7th.

Northern Trust Price Performance

NTRS opened at $137.30 on Tuesday. The company has a market capitalization of $25.51 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 1.12 and a beta of 1.27. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.57. Northern Trust has a 12-month low of $81.62 and a 12-month high of $157.60. The business’s fifty day simple moving average is $145.71 and its 200-day simple moving average is $136.26.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Friday, January 30th. The asset manager reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.05. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The firm had revenue of $3.15 billion during the quarter. During the same quarter in the previous year, the firm earned $2.26 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts anticipate that Northern Trust will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, March 6th. Northern Trust’s payout ratio is presently 36.61%.

Insider Activity at Northern Trust

In related news, insider Guy Gibson sold 3,009 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $142.39, for a total transaction of $428,451.51. Following the sale, the insider owned 29,332 shares of the company’s stock, valued at $4,176,583.48. This trade represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Clive Bellows sold 1,148 shares of the business’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $145.26, for a total transaction of $166,758.48. Following the completion of the transaction, the insider owned 34,133 shares of the company’s stock, valued at $4,958,159.58. This represents a 3.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 34,905 shares of company stock valued at $5,166,714 over the last 90 days. Company insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NTRS. Bank of New York Mellon Corp raised its stake in Northern Trust by 2.1% in the third quarter. Bank of New York Mellon Corp now owns 1,947,456 shares of the asset manager’s stock valued at $262,128,000 after buying an additional 40,048 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Northern Trust in the third quarter worth about $64,863,000. Barclays PLC grew its stake in shares of Northern Trust by 62.4% during the third quarter. Barclays PLC now owns 1,042,084 shares of the asset manager’s stock worth $140,265,000 after acquiring an additional 400,247 shares during the last quarter. Aviva PLC increased its holdings in shares of Northern Trust by 8.4% during the second quarter. Aviva PLC now owns 149,911 shares of the asset manager’s stock valued at $19,007,000 after acquiring an additional 11,587 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Northern Trust by 228.0% during the third quarter. SG Americas Securities LLC now owns 75,829 shares of the asset manager’s stock valued at $10,207,000 after acquiring an additional 52,711 shares in the last quarter. Institutional investors 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.