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

Northern Trust Corporation (NASDAQ:NTRS)’s share price reached a new 52-week high during mid-day trading 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.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NTRS shares. The Goldman Sachs Group raised their price objective on Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. Citigroup started coverage on Northern Trust in a research report on Monday, February 23rd. They set a “neutral” rating on the stock. Royal Bank Of Canada increased their price target on Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. raised their price objective on shares of Northern Trust from $153.50 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Finally, BMO Capital Markets upgraded shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price objective on the stock in a report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. 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 Price Performance

The stock’s 50-day moving average price is $162.08 and its 200 day moving average price is $148.69. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $32.11 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 1.19 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, topping the consensus estimate of $2.37 by $0.34. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period last year, the company posted $1.90 earnings per share. Equities research analysts expect that Northern Trust Corporation will post 10.68 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be issued a dividend of $0.80 per share. The ex-dividend date is Friday, June 5th. This represents a $3.20 annualized dividend and a yield of 1.8%. Northern Trust’s dividend payout ratio is 33.51%.

Insider Transactions at Northern Trust

In other news, Director Robert Edward Jr. Moritz acquired 225 shares of Northern Trust stock in a transaction that occurred on Friday, May 1st. The stock was bought at an average price 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 in the company, valued at $1,355,409.45. The trade was a 2.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Clive Bellows sold 2,800 shares of the company’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $165.02, for a total value of $462,056.00. Following the transaction, the insider owned 28,217 shares in the company, valued at $4,656,369.34. This trade represents a 9.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 22,800 shares of company stock worth $3,785,251. 0.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Northern Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC boosted its holdings in Northern Trust by 1.3% during the first quarter. V Square Quantitative Management LLC now owns 4,793 shares of the asset manager’s stock worth $669,000 after purchasing an additional 61 shares during the last quarter. CWS Financial Advisors LLC increased its position in shares of Northern Trust by 2.0% during the first quarter. CWS Financial Advisors LLC now owns 3,997 shares of the asset manager’s stock valued at $558,000 after buying an additional 77 shares during the period. New Age Alpha Advisors LLC lifted its stake in Northern Trust by 4.9% in the third quarter. New Age Alpha Advisors LLC now owns 1,659 shares of the asset manager’s stock worth $223,000 after acquiring an additional 78 shares during the period. SJS Investment Consulting Inc. increased its holdings in Northern Trust by 16.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 559 shares of the asset manager’s stock worth $78,000 after buying an additional 79 shares in the last quarter. Finally, Compound Planning Inc. increased its stake in Northern Trust by 4.7% in the 1st quarter. Compound Planning Inc. now owns 1,770 shares of the asset manager’s stock worth $247,000 after acquiring an additional 79 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

About Northern Trust

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.