Northern Trust (NASDAQ:NTRS) Trading 5.4% Higher

Northern Trust Co. (NASDAQ:NTRS)’s stock price traded up 5.4% during trading on Thursday . The company traded as high as $77.50 and last traded at $76.92, 1,883,900 shares were traded during mid-day trading. An increase of 10% from the average session volume of 1,708,393 shares. The stock had previously closed at $73.00.

A number of equities research analysts have commented on the stock. Morgan Stanley dropped their price objective on shares of Northern Trust from $85.00 to $69.00 and set an “underweight” rating on the stock in a research report on Friday, March 27th. BidaskClub downgraded shares of Northern Trust from a “sell” rating to a “strong sell” rating in a research report on Saturday, February 15th. Citigroup dropped their target price on shares of Northern Trust from $110.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Deutsche Bank increased their target price on shares of Northern Trust from $61.00 to $66.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, Goldman Sachs Group downgraded shares of Northern Trust from a “buy” rating to a “neutral” rating and dropped their target price for the company from $96.00 to $70.00 in a research report on Tuesday, March 24th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $90.09.

The company has a market cap of $15.79 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.13 and a beta of 1.21. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.41. The company’s 50 day moving average price is $82.84 and its 200 day moving average price is $97.31.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, January 22nd. The asset manager reported $1.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.77 by ($0.07). Northern Trust had a return on equity of 15.15% and a net margin of 21.64%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the business posted $1.80 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. Sell-side analysts predict that Northern Trust Co. will post 6.14 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Thursday, March 12th. Northern Trust’s dividend payout ratio (DPR) is presently 42.23%.

In other news, EVP Teresa Parker sold 16,790 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $102.78, for a total value of $1,725,676.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert P. Browne sold 4,500 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $72.31, for a total transaction of $325,395.00. The disclosure for this sale can be found here. Insiders sold a total of 58,458 shares of company stock valued at $5,889,330 in the last 90 days. Company insiders own 0.72% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Westshore Wealth LLC purchased a new position in shares of Northern Trust in the 4th quarter valued at about $510,000. Quadrant Capital Group LLC increased its holdings in Northern Trust by 26.5% during the 4th quarter. Quadrant Capital Group LLC now owns 758 shares of the asset manager’s stock valued at $72,000 after acquiring an additional 159 shares in the last quarter. Macquarie Group Ltd. increased its holdings in Northern Trust by 4.6% during the 4th quarter. Macquarie Group Ltd. now owns 4,916 shares of the asset manager’s stock valued at $523,000 after acquiring an additional 216 shares in the last quarter. TFG Advisers LLC purchased a new position in Northern Trust during the 4th quarter valued at about $47,000. Finally, Franklin Resources Inc. increased its holdings in Northern Trust by 7.7% during the 4th quarter. Franklin Resources Inc. now owns 8,398 shares of the asset manager’s stock valued at $892,000 after acquiring an additional 600 shares in the last quarter. Institutional investors and hedge funds own 82.61% of the company’s stock.

About Northern Trust (NASDAQ:NTRS)

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, Corporate & Institutional Services (C&IS) and Wealth Management.

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