Northern Trust Corporation (NTRS) Rating Reiterated by Morgan Stanley
Northern Trust Corporation (NASDAQ:NTRS)‘s stock had its “underweight” rating reiterated by analysts at Morgan Stanley in a note issued to investors on Friday. They currently have a $86.00 target price on the asset manager’s stock, up from their prior target price of $80.00. Morgan Stanley’s price target would indicate a potential downside of 12.36% from the company’s previous close.
Several other analysts also recently issued reports on the company. Deutsche Bank AG cut their price objective on Northern Trust Corporation from $94.00 to $93.00 and set a “hold” rating on the stock in a report on Thursday, April 6th. Jefferies Group LLC upgraded Northern Trust Corporation from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $90.00 to $102.00 in a report on Tuesday, April 11th. Credit Suisse Group restated a “hold” rating and set a $90.00 price objective on shares of Northern Trust Corporation in a report on Monday, May 15th. Royal Bank Of Canada restated a “buy” rating and set a $97.00 price objective on shares of Northern Trust Corporation in a report on Wednesday, May 10th. Finally, BidaskClub upgraded Northern Trust Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $94.10.
Shares of Northern Trust Corporation (NTRS) opened at 98.13 on Friday. The firm’s 50 day moving average is $90.99 and its 200 day moving average is $88.46. Northern Trust Corporation has a 1-year low of $61.86 and a 1-year high of $98.72. The firm has a market capitalization of $22.53 billion, a PE ratio of 22.38 and a beta of 0.94.
Northern Trust Corporation (NASDAQ:NTRS) last posted its quarterly earnings data on Tuesday, April 25th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.02. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. Northern Trust Corporation had a return on equity of 11.96% and a net margin of 20.20%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.99 EPS. Analysts anticipate that Northern Trust Corporation will post $4.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, July 1st. Stockholders of record on Friday, June 2nd were issued a $0.38 dividend. The ex-dividend date was Wednesday, May 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.55%. Northern Trust Corporation’s dividend payout ratio is 34.78%.
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In other news, Vice Chairman William L. Morrison sold 25,000 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $87.28, for a total value of $2,182,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Frederick H. Waddell sold 205,923 shares of the company’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $90.46, for a total value of $18,627,794.58. The disclosure for this sale can be found here. Insiders sold a total of 458,002 shares of company stock worth $41,937,824 in the last quarter. 1.27% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of the stock. Tudor Investment Corp Et Al boosted its stake in shares of Northern Trust Corporation by 27.5% in the fourth quarter. Tudor Investment Corp Et Al now owns 5,100 shares of the asset manager’s stock valued at $454,000 after buying an additional 1,100 shares during the last quarter. Norges Bank purchased a new stake in shares of Northern Trust Corporation during the fourth quarter valued at approximately $23,065,000. Elkhorn Investments LLC purchased a new stake in shares of Northern Trust Corporation during the fourth quarter valued at approximately $795,000. RMB Capital Management LLC boosted its stake in shares of Northern Trust Corporation by 135.9% in the fourth quarter. RMB Capital Management LLC now owns 25,891 shares of the asset manager’s stock valued at $2,306,000 after buying an additional 97,933 shares during the last quarter. Finally, HighPoint Advisor Group LLC boosted its stake in shares of Northern Trust Corporation by 19.9% in the fourth quarter. HighPoint Advisor Group LLC now owns 6,788 shares of the asset manager’s stock valued at $607,000 after buying an additional 1,127 shares during the last quarter. Institutional investors own 82.80% of the company’s stock.
Northern Trust Corporation 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 across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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