Jefferies Group Reiterates Hold Rating for Northern Trust Corp. (NTRS)
Northern Trust Corp. (NASDAQ:NTRS)‘s stock had its “hold” rating reiterated by equities researchers at Jefferies Group in a research report issued to clients and investors on Monday. They currently have a $77.00 target price on the stock. Jefferies Group’s price objective suggests a potential upside of 7.02% from the company’s current price.
A number of other equities research analysts have also weighed in on NTRS. Goldman Sachs Group Inc. lowered shares of Northern Trust Corp. from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $82.00 to $71.00 in a report on Thursday, July 7th. Zacks Investment Research upgraded shares of Northern Trust Corp. from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Wednesday, October 5th. Deutsche Bank AG set a $71.00 price objective on shares of Northern Trust Corp. and gave the company a “hold” rating in a report on Friday, August 5th. Credit Agricole SA lifted their price objective on shares of Northern Trust Corp. from $70.00 to $73.00 and gave the company an “underperform” rating in a report on Friday, September 23rd. Finally, Citigroup Inc. upgraded shares of Northern Trust Corp. from a “sell” rating to a “neutral” rating and set a $66.00 price objective for the company in a report on Tuesday, June 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $72.27.
Shares of Northern Trust Corp. (NASDAQ:NTRS) traded up 0.33% during midday trading on Monday, reaching $72.19. 292,150 shares of the company’s stock were exchanged. The company has a market cap of $16.36 billion, a price-to-earnings ratio of 17.83 and a beta of 1.13. Northern Trust Corp. has a 12-month low of $54.38 and a 12-month high of $76.11. The stock’s 50 day moving average price is $69.26 and its 200 day moving average price is $68.68.
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Northern Trust Corp. (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, July 20th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Northern Trust Corp. had a net margin of 19.38% and a return on equity of 11.38%. The firm earned $1.32 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the company earned $1.01 EPS. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities analysts anticipate that Northern Trust Corp. will post $4.24 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 2nd were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Wednesday, August 31st. This is a positive change from Northern Trust Corp.’s previous quarterly dividend of $0.36. Northern Trust Corp.’s payout ratio is 37.53%.
In other Northern Trust Corp. news, insider Clair Joyce St sold 48,110 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $67.02, for a total transaction of $3,224,332.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President William L. Morrison sold 170,563 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $67.36, for a total transaction of $11,489,123.68. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Financial Architects Inc increased its stake in Northern Trust Corp. by 5,936.0% in the second quarter. Financial Architects Inc now owns 1,509 shares of the company’s stock valued at $100,000 after buying an additional 1,484 shares in the last quarter. Global X Management Co. LLC increased its stake in Northern Trust Corp. by 30.8% in the second quarter. Global X Management Co. LLC now owns 1,545 shares of the company’s stock valued at $102,000 after buying an additional 364 shares in the last quarter. Creative Planning increased its stake in Northern Trust Corp. by 61.9% in the second quarter. Creative Planning now owns 1,755 shares of the company’s stock valued at $116,000 after buying an additional 671 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in Northern Trust Corp. during the second quarter valued at $119,000. Finally, Mizuho Asset Management Co. Ltd. increased its stake in Northern Trust Corp. by 96.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,766 shares of the company’s stock valued at $183,000 after buying an additional 1,359 shares in the last quarter. 81.71% of the stock is currently owned by institutional investors.
Northern Trust Corp. Company Profile
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals around the world. The Company’s segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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