Northern Trust (NASDAQ:NTRS) Sets New 12-Month High on Analyst Upgrade

Northern Trust Co. (NASDAQ:NTRS)’s share price hit a new 52-week high during mid-day trading on Monday after Wells Fargo & Company raised their price target on the stock from $108.00 to $110.00. Wells Fargo & Company currently has an equal weight rating on the stock. Northern Trust traded as high as $108.83 and last traded at $108.81, with a volume of 392996 shares. The stock had previously closed at $107.60.

A number of other research firms have also commented on NTRS. StockNews.com upgraded Northern Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. UBS Group lifted their price target on shares of Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group cut shares of Northern Trust from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $84.00 to $82.00 in a report on Thursday, September 26th. Evercore ISI boosted their target price on shares of Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Finally, Barclays raised their price target on Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $100.67.

Insiders Place Their Bets

In related news, EVP Thomas A. South sold 5,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $105.80, for a total transaction of $529,000.00. Following the completion of the sale, the executive vice president now owns 49,756 shares in the company, valued at approximately $5,264,184.80. This trade represents a 9.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles A. Tribbett sold 1,855 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $88,120. This represents a 64.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,906 shares of company stock worth $8,176,652 over the last quarter. 0.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Northern Trust

Hedge funds have recently modified their holdings of the stock. Allworth Financial LP lifted its stake in Northern Trust by 9.1% in the 3rd quarter. Allworth Financial LP now owns 1,170 shares of the asset manager’s stock worth $105,000 after purchasing an additional 98 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Northern Trust by 14.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the asset manager’s stock worth $83,000 after buying an additional 117 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Northern Trust by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager’s stock valued at $3,608,000 after buying an additional 120 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its holdings in Northern Trust by 0.4% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager’s stock valued at $3,212,000 after buying an additional 127 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Northern Trust by 1.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager’s stock worth $889,000 after acquiring an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Down 1.0 %

The company has a fifty day moving average price of $96.49 and a 200-day moving average price of $89.29. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $21.38 billion, a PE ratio of 13.41, a PEG ratio of 1.21 and a beta of 1.06.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 2.78%. Northern Trust’s dividend payout ratio (DPR) is currently 37.31%.

About Northern Trust

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.