Northern Trust Corporation (NASDAQ:NTRS - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $111.85, but opened at $119.00. Northern Trust shares last traded at $121.46, with a volume of 4,525,572 shares changing hands.
Analysts Set New Price Targets
NTRS has been the subject of a number of recent research reports. Truist Financial lowered their price objective on shares of Northern Trust from $98.00 to $92.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Bank of America lowered their target price on Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Wells Fargo & Company cut their price target on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Citigroup reduced their price objective on Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Finally, Morgan Stanley reaffirmed an "underweight" rating and issued a $103.00 target price (up from $101.00) on shares of Northern Trust in a research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Northern Trust currently has a consensus rating of "Hold" and a consensus target price of $108.42.
Check Out Our Latest Report on Northern Trust
Northern Trust Stock Up 6.7%
The stock has a market cap of $23.23 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 1.69 and a beta of 1.22. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.57. The stock's 50-day moving average is $101.89 and its 200-day moving average is $103.17.
Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.85 by $0.05. Northern Trust had a net margin of 13.93% and a return on equity of 13.73%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.95 billion. As a group, research analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.
Northern Trust Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be given a $0.75 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.51%. Northern Trust's dividend payout ratio (DPR) is 27.99%.
Insider Buying and Selling at Northern Trust
In other news, EVP Clive Bellows sold 3,300 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $99.95, for a total transaction of $329,835.00. Following the completion of the transaction, the executive vice president now owns 28,736 shares in the company, valued at approximately $2,872,163.20. This trade represents a 10.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Teresa Parker sold 6,467 shares of the business'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 transaction of $650,709.54. Following the completion of the sale, the insider now owns 79,391 shares in the company, valued at $7,988,322.42. The trade was a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,772 shares of company stock valued at $981,069. 0.77% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. raised its position in shares of Northern Trust by 0.5% during the fourth quarter. Principal Financial Group Inc. now owns 235,430 shares of the asset manager's stock worth $24,132,000 after purchasing an additional 1,187 shares during the period. Truist Financial Corp raised its holdings in Northern Trust by 6.4% during the 4th quarter. Truist Financial Corp now owns 12,313 shares of the asset manager's stock worth $1,262,000 after buying an additional 744 shares during the period. Handelsbanken Fonder AB raised its holdings in Northern Trust by 13.5% during the 4th quarter. Handelsbanken Fonder AB now owns 65,680 shares of the asset manager's stock worth $6,732,000 after buying an additional 7,837 shares during the period. Bradley Foster & Sargent Inc. CT lifted its stake in Northern Trust by 2.4% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 4,774 shares of the asset manager's stock valued at $489,000 after buying an additional 114 shares in the last quarter. Finally, Fisher Funds Management LTD acquired a new position in shares of Northern Trust in the fourth quarter worth about $3,887,000. Institutional investors own 83.19% of the company's stock.
About Northern Trust
(
Get Free Report)
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.
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