Northern Trust (NASDAQ:NTRS) Hits New 12-Month High - What's Next?

Key Points

• 52-week high: Northern Trust shares reached a new 52-week high of $157.97 (last $156.18) on Wednesday, with about 32,174 shares trading.
• Analyst view is mixed but cautious — the stock has an average rating of "Hold" with a consensus price target of $154.55; notable revisions include RBC raising its target to $159 and Goldman Sachs moving the stock to neutral.
• Fundamentals: Northern Trust reported quarterly EPS of $2.42, beating estimates ($2.37) with revenue of $3.15 billion (up 8.4% YoY), and pays a $3.20 annualized dividend (2.0% yield); the stock trades at a P/E of ~18.

Northern Trust Corporation (NASDAQ:NTRS - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $157.97 and last traded at $156.1770, with a volume of 32174 shares traded. The stock had previously closed at $155.82.

Analyst Ratings Changes

A number of research firms have commented on NTRS. Royal Bank Of Canada lifted their target price on shares of Northern Trust from $139.00 to $159.00 and gave the stock an "outperform" rating in a research report on Friday, January 23rd. Zacks Research downgraded shares of Northern Trust from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 10th. The Goldman Sachs Group raised shares of Northern Trust from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $148.00 to $151.00 in a research report on Monday, April 6th. Truist Financial cut their target price on shares of Northern Trust from $160.00 to $155.00 and set a "hold" rating for the company in a research report on Wednesday, April 1st. Finally, Citigroup assumed coverage on shares of Northern Trust in a research report on Monday, February 23rd. They set a "neutral" rating for the company. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Northern Trust currently has an average rating of "Hold" and a consensus price target of $154.55.

Northern Trust Stock Performance

The business's 50-day moving average price is $143.47 and its 200-day moving average price is $138.24. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $29.08 billion, a P/E ratio of 17.96, a P/E/G ratio of 1.20 and a beta of 1.23.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data on Friday, January 30th. The asset manager reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.37 by $0.05. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. The firm had revenue of $3.15 billion during the quarter. During the same period in the previous year, the firm earned $2.26 EPS. The company's revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 6th were paid a dividend of $0.80 per share. The ex-dividend date was Friday, March 6th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.0%. Northern Trust's payout ratio is 36.61%.

Insider Activity at Northern Trust

In related news, CFO David W. Fox, Jr. sold 3,255 shares of Northern Trust stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $143.89, for a total transaction of $468,361.95. Following the transaction, the chief financial officer owned 14,552 shares in the company, valued at approximately $2,093,887.28. The trade was a 18.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Petrino bought 1,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were purchased at an average price of $148.91 per share, for a total transaction of $148,910.00. Following the purchase, the director owned 3,332 shares in the company, valued at $496,168.12. This represents a 42.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 34,905 shares of company stock worth $5,166,714 in the last 90 days. Company insiders own 0.66% of the company's stock.

Institutional Trading of Northern Trust

Several hedge funds have recently bought and sold shares of the stock. New Age Alpha Advisors LLC lifted its stake in Northern Trust by 4.9% in the 3rd quarter. New Age Alpha Advisors LLC now owns 1,659 shares of the asset manager's stock worth $223,000 after purchasing an additional 78 shares in the last quarter. Salomon & Ludwin LLC lifted its stake in Northern Trust by 13.1% in the 3rd quarter. Salomon & Ludwin LLC now owns 682 shares of the asset manager's stock worth $90,000 after purchasing an additional 79 shares in the last quarter. Compound Planning Inc. lifted its stake in Northern Trust by 5.1% in the 3rd quarter. Compound Planning Inc. now owns 1,666 shares of the asset manager's stock worth $224,000 after purchasing an additional 81 shares in the last quarter. Apollon Wealth Management LLC lifted its stake in Northern Trust by 1.9% in the 4th quarter. Apollon Wealth Management LLC now owns 4,379 shares of the asset manager's stock worth $598,000 after purchasing an additional 81 shares in the last quarter. Finally, NorthRock Partners LLC lifted its stake in Northern Trust by 2.2% in the 3rd quarter. NorthRock Partners LLC now owns 3,812 shares of the asset manager's stock worth $513,000 after purchasing an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.

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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