Northern Trust Co. (NASDAQ:NTRS) Given Average Rating of "Hold" by Brokerages

Northern Trust Co. (NASDAQ:NTRS - Get Free Report) has been assigned a consensus rating of "Hold" from the twelve ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $110.83.

Several brokerages recently weighed in on NTRS. Wells Fargo & Company cut their price target on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley cut their price objective on Northern Trust from $136.00 to $132.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 2nd. The Goldman Sachs Group boosted their price objective on Northern Trust from $92.00 to $102.00 and gave the stock a "sell" rating in a research note on Friday, January 24th. Truist Financial cut their price objective on Northern Trust from $98.00 to $92.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Finally, Citigroup cut their price objective on Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a research note on Monday, March 24th.

Northern Trust Price Performance

Shares of Northern Trust stock traded up $0.43 on Wednesday, hitting $107.90. The company's stock had a trading volume of 1,429,726 shares, compared to its average volume of 1,275,612. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. Northern Trust has a 1 year low of $79.68 and a 1 year high of $114.67. The firm has a fifty day moving average price of $95.44 and a 200-day moving average price of $103.05. The company has a market capitalization of $20.99 billion, a price-to-earnings ratio of 11.03, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.05. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.95 billion. As a group, sell-side 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 announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Friday, June 6th. Northern Trust's dividend payout ratio is currently 27.99%.

Insider Activity at Northern Trust

In related news, insider Teresa Parker sold 6,467 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $100.62, for a total value of $650,709.54. Following the transaction, the insider now directly owns 79,391 shares in the company, valued at approximately $7,988,322.42. This represents a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thomas A. South sold 3,804 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total value of $429,852.00. Following the completion of the transaction, the executive vice president now owns 81,794 shares in the company, valued at $9,242,722. This represents a 4.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,571 shares of company stock worth $1,410,397. Insiders own 0.77% of the company's stock.

Institutional Trading of Northern Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of NTRS. Y.D. More Investments Ltd raised its stake in Northern Trust by 118.4% in the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager's stock valued at $26,000 after buying an additional 135 shares in the last quarter. Colonial Trust Co SC grew its holdings in shares of Northern Trust by 6,400.0% during the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock worth $27,000 after purchasing an additional 256 shares during the last quarter. Continuum Advisory LLC grew 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 purchasing an additional 267 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Northern Trust during the first quarter worth about $29,000. Finally, Empirical Asset Management LLC purchased a new position in shares of Northern Trust during the fourth quarter worth about $33,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

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, 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.