Northern Trust Corporation (NASDAQ:NTRS) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts covering Northern Trust (NASDAQ:NTRS) have assigned it an average rating of "Hold", with 15 analysts split between sell, hold, buy, and strong buy calls. The average 12-month price target is about $164.08.
• The company reported strong quarterly results, posting EPS of $2.71 versus the $2.37 consensus and revenue of $2.21 billion, up 13.8% year over year. Analysts now expect full-year EPS of 10.68.
• Northern Trust also announced a quarterly dividend of $0.80 per share, payable July 1, which annualizes to $3.20 and yields about 1.9%. Meanwhile, insiders have sold shares recently, while institutional investors continue to hold a large majority of the stock.

Shares of Northern Trust Corporation (NASDAQ:NTRS - Get Free Report) have been given an average recommendation of "Hold" by the fifteen analysts that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $164.0833.

A number of equities analysts have recently commented on NTRS shares. TD Cowen lifted their price target on shares of Northern Trust from $165.00 to $175.00 and gave the company a "buy" rating in a research report on Monday, January 26th. Barclays lifted their price target on shares of Northern Trust from $160.00 to $176.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 22nd. Citigroup began coverage on shares of Northern Trust in a research note on Monday, February 23rd. They issued a "neutral" rating on the stock. BMO Capital Markets upgraded shares of Northern Trust from a "market perform" rating to an "outperform" rating and set a $168.00 price objective on the stock in a research note on Monday, April 6th. Finally, The Goldman Sachs Group raised their price objective on shares of Northern Trust from $151.00 to $169.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 22nd.

Insider Activity at Northern Trust

In other news, CFO David W. Fox, Jr. sold 19,987 shares of the firm's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total value of $3,321,039.92. Following the sale, the chief financial officer owned 18,588 shares in the company, valued at approximately $3,088,582.08. This trade represents a 51.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Clive Bellows sold 2,800 shares of the firm's stock in a transaction on Friday, April 24th. The stock was sold at an average price of $165.02, for a total transaction of $462,056.00. Following the completion of the sale, the insider owned 28,217 shares in the company, valued at approximately $4,656,369.34. The trade was a 9.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 30,514 shares of company stock worth $4,890,937. Insiders own 0.66% of the company's stock.

Institutional Investors Weigh In On Northern Trust

Several hedge funds and other institutional investors have recently modified their holdings of NTRS. CWM LLC boosted its stake in Northern Trust by 122.6% during the fourth quarter. CWM LLC now owns 48,284 shares of the asset manager's stock worth $6,595,000 after buying an additional 26,594 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Northern Trust by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 1,947,456 shares of the asset manager's stock worth $262,128,000 after buying an additional 40,048 shares in the last quarter. iSAM Funds UK Ltd acquired a new stake in Northern Trust during the third quarter worth $2,253,000. Cinctive Capital Management LP boosted its stake in Northern Trust by 113.7% during the third quarter. Cinctive Capital Management LP now owns 28,939 shares of the asset manager's stock worth $3,895,000 after buying an additional 15,398 shares in the last quarter. Finally, Swiss Life Asset Management Ltd boosted its stake in Northern Trust by 119.9% during the third quarter. Swiss Life Asset Management Ltd now owns 83,175 shares of the asset manager's stock worth $11,195,000 after buying an additional 45,356 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.

Northern Trust Trading Up 0.4%

NASDAQ:NTRS opened at $167.77 on Friday. Northern Trust has a 12 month low of $104.09 and a 12 month high of $173.18. The firm has a market cap of $31.05 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 1.20 and a beta of 1.27. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51. The company's 50 day moving average is $153.16 and its 200-day moving average is $144.52.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, beating analysts' consensus estimates of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm posted $1.90 earnings per share. The company's quarterly revenue was up 13.8% compared to the same quarter last year. Equities analysts anticipate that Northern Trust will post 10.68 EPS for the current year.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be paid a $0.80 dividend. The ex-dividend date is Friday, June 5th. This represents a $3.20 annualized dividend and a dividend yield of 1.9%. Northern Trust's dividend payout ratio (DPR) is presently 33.51%.

Northern Trust Company Profile

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.

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