Northern Trust (NASDAQ:NTRS) Reaches New 52-Week High - Here's Why

Key Points

• Northern Trust shares reached a new 52-week high, trading as high as $195.78 and closing near $191.74. The stock’s market capitalization was approximately $34.88 billion.
• Analyst sentiment remained mixed, with a consensus “Hold” rating and an average price target of $180.68, below the stock’s trading level. Ratings ranged from “Strong Buy” to “Sell.”
• Northern Trust increased its quarterly dividend from $0.80 to $0.88 per share, implying an annualized dividend of $3.52 and a 1.8% yield. Institutional investors owned 83.19% of the company’s stock.

Northern Trust Corporation (NASDAQ:NTRS - Get Free Report) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $195.78 and last traded at $191.7390, with a volume of 14883 shares. The stock had previously closed at $191.33.

Analyst Upgrades and Downgrades

NTRS has been the topic of a number of research analyst reports. UBS Group set a $186.00 target price on Northern Trust in a report on Friday, June 26th. Wells Fargo & Company raised their target price on Northern Trust from $189.00 to $194.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods lifted their price target on Northern Trust from $157.00 to $175.00 and gave the company an "underperform" rating in a research report on Thursday, July 9th. Royal Bank Of Canada cut Northern Trust from an "outperform" rating to a "sector perform" rating and set a $178.00 price target on the stock. in a research note on Wednesday, July 22nd. Finally, Zacks Research raised Northern Trust from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $180.68.

Northern Trust Stock Performance

The company has a market capitalization of $34.88 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 1.06 and a beta of 1.25. The business's fifty day moving average is $179.09 and its two-hundred day moving average is $161.48. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be paid a $0.88 dividend. This is an increase from Northern Trust's previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, September 4th. Northern Trust's dividend payout ratio (DPR) is presently 27.47%.

Insider Activity

In other Northern Trust news, Director Robert Edward Jr. Moritz acquired 255 shares of the company's stock in a transaction that occurred on Wednesday, July 29th. The shares were bought at an average cost of $179.57 per share, with a total value of $45,790.35. Following the completion of the transaction, the director directly owned 8,400 shares of the company's stock, valued at approximately $1,508,388. This represents a 3.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Northern Trust

A number of hedge funds have recently bought and sold shares of NTRS. BlackRock Inc. purchased a new position in shares of Northern Trust in the 2nd quarter worth $2,523,781,000. Bank of New York Mellon Corp bought a new stake in shares of Northern Trust in the second quarter worth $361,079,000. Norges Bank purchased a new stake in Northern Trust during the fourth quarter valued at $257,410,000. Eurizon Capital SGR S.p.A. bought a new position in Northern Trust in the fourth quarter valued at about $126,794,000. Finally, Deutsche Bank AG bought a new position in Northern Trust in the second quarter valued at about $144,091,000. 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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