Northern Trust Co. (NASDAQ:NTRS) has earned an average recommendation of "Hold" from the twenty analysts that are currently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $97.17.
Several equities research analysts have recently weighed in on NTRS shares. Barclays increased their price target on Northern Trust from $92.00 to $105.00 and gave the company an "equal weight" rating in a research note on Monday, January 4th. Piper Sandler raised their target price on Northern Trust from $100.00 to $115.00 and gave the stock an "overweight" rating in a research note on Monday, January 11th. Deutsche Bank Aktiengesellschaft raised Northern Trust from a "hold" rating to a "buy" rating and raised their target price for the stock from $99.00 to $112.00 in a research note on Friday, December 18th. Bank of America cut Northern Trust from a "neutral" rating to an "underperform" rating and raised their target price for the stock from $95.00 to $97.00 in a research note on Tuesday, January 12th. Finally, The Goldman Sachs Group cut Northern Trust from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $90.00 to $85.00 in a research note on Tuesday, January 5th.
Shares of NTRS stock traded down $2.56 on Wednesday, hitting $94.80. The company had a trading volume of 1,751,088 shares, compared to its average volume of 921,787. The firm has a market cap of $19.73 billion, a P/E ratio of 15.72 and a beta of 1.12. The stock's 50-day moving average is $93.79 and its two-hundred day moving average is $85.58. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.64 and a current ratio of 0.64. Northern Trust has a twelve month low of $60.67 and a twelve month high of $109.88.
Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, October 21st. The asset manager reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.06). The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. Northern Trust had a net margin of 20.72% and a return on equity of 13.07%. The company's quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.69 EPS. Equities research analysts predict that Northern Trust will post 5.99 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 1st. Shareholders of record on Friday, March 12th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.95%. Northern Trust's payout ratio is currently 42.23%.
In other news, insider Steven L. Fradkin sold 7,117 shares of the firm's stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $82.88, for a total value of $589,856.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Clair Joyce St sold 29,154 shares of the firm's stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $90.05, for a total value of $2,625,317.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,346 shares of company stock worth $6,100,497. Corporate insiders own 0.72% of the company's stock.
Several hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of Northern Trust by 9.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,412,956 shares of the asset manager's stock valued at $188,138,000 after purchasing an additional 203,746 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of Northern Trust by 0.7% in the third quarter. Champlain Investment Partners LLC now owns 1,940,740 shares of the asset manager's stock valued at $151,319,000 after purchasing an additional 13,685 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of Northern Trust by 1.0% in the third quarter. UBS Asset Management Americas Inc. now owns 1,143,702 shares of the asset manager's stock valued at $89,174,000 after purchasing an additional 11,659 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Northern Trust by 6.0% during the third quarter. Victory Capital Management Inc. now owns 908,244 shares of the asset manager's stock worth $70,816,000 after acquiring an additional 51,065 shares during the period. Finally, Cerity Partners LLC lifted its holdings in Northern Trust by 0.7% during the third quarter. Cerity Partners LLC now owns 807,732 shares of the asset manager's stock worth $62,979,000 after acquiring an additional 5,278 shares during the period. Institutional investors own 78.82% of the company's stock.
About Northern Trust
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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