Northern Trust (NASDAQ:NTRS) Reaches New 1-Year High - Here's What Happened

Key Points

• Northern Trust hit a new 52-week high, trading as high as $173.78 and last near $174.26, up about 1.6% on the session.
• Recent analyst updates were mixed but generally improved, with several firms raising price targets and some upgrading ratings; the stock currently carries a consensus Hold rating and a $164.08 average target.
• The company reported strong quarterly results, including EPS of $2.71 versus $2.37 expected and revenue growth of 13.8% year over year, while also declaring a quarterly dividend of $0.80 per share.

Shares of Northern Trust Corporation (NASDAQ:NTRS - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $173.78 and last traded at $174.2630, with a volume of 64845 shares trading hands. The stock had previously closed at $170.75.

Analyst Ratings Changes

Several equities analysts recently weighed in on NTRS shares. Truist Financial raised their price target on shares of Northern Trust from $155.00 to $176.00 and gave the company a "hold" rating in a research report on Wednesday, April 22nd. Zacks Research raised shares of Northern Trust from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. The Goldman Sachs Group increased their price target on Northern Trust from $151.00 to $169.00 and gave the company a "neutral" rating in a report on Wednesday, April 22nd. BMO Capital Markets upgraded shares of Northern Trust from a "market perform" rating to an "outperform" rating and set a $168.00 price objective for the company in a research note on Monday, April 6th. Finally, Wells Fargo & Company lifted their price target on shares of Northern Trust from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $164.08.

Northern Trust Trading Up 1.6%

The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. The company's fifty day moving average price is $162.08 and its two-hundred day moving average price is $148.69. The firm has a market cap of $32.11 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 1.19 and a beta of 1.25.

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 the consensus estimate of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the company posted $1.90 earnings per share. Northern Trust's revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts predict that Northern Trust Corporation will post 10.68 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, June 5th. Northern Trust's dividend payout ratio is currently 33.51%.

Insider Transactions at Northern Trust

In other Northern Trust news, insider Clive Bellows sold 2,800 shares of the business's stock in a transaction on Friday, April 24th. The shares were sold at an average price of $165.02, for a total transaction of $462,056.00. Following the sale, the insider directly owned 28,217 shares of the company's stock, valued at $4,656,369.34. The trade was a 9.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Edward Jr. Moritz purchased 225 shares of Northern Trust stock in a transaction dated Friday, May 1st. The shares were purchased at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the transaction, the director owned 8,145 shares of the company's stock, valued at approximately $1,355,409.45. This represents a 2.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders sold 22,800 shares of company stock worth $3,785,251. Company insiders own 0.66% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Triumph Capital Management acquired a new stake in Northern Trust during the 3rd quarter valued at approximately $25,000. Reflection Asset Management bought a new stake in Northern Trust during the 4th quarter worth approximately $25,000. Board of the Pension Protection Fund bought a new position in shares of Northern Trust during the fourth quarter worth approximately $27,000. Elyxium Wealth LLC bought a new stake in shares of Northern Trust in the fourth quarter worth $34,000. Finally, International Assets Investment Management LLC bought a new position in shares of Northern Trust during the 4th quarter valued at approximately $35,000. 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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