Jefferies Group Reiterates “Hold” Rating for Northern Trust Corp. (NTRS)
Northern Trust Corp. (NASDAQ:NTRS)‘s stock had its “hold” rating reissued by investment analysts at Jefferies Group in a note issued to investors on Monday. They presently have a $77.00 price objective on the stock. Jefferies Group’s price target indicates a potential upside of 7.02% from the company’s current price.
Other equities analysts have also issued reports about the company. Deutsche Bank AG reiterated a “hold” rating on shares of Northern Trust Corp. in a research note on Sunday, July 10th. Barclays PLC reiterated a “hold” rating on shares of Northern Trust Corp. in a research note on Saturday, July 9th. Zacks Investment Research upgraded Northern Trust Corp. from a “sell” rating to a “hold” rating in a research note on Friday, July 22nd. Citigroup Inc. upgraded Northern Trust Corp. from a “sell” rating to a “neutral” rating and set a $66.00 price objective on the stock in a research note on Tuesday, June 28th. Finally, Goldman Sachs Group Inc. lowered Northern Trust Corp. from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $82.00 to $71.00 in a research note on Thursday, July 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Northern Trust Corp. has a consensus rating of “Hold” and a consensus price target of $72.27.
Shares of Northern Trust Corp. (NASDAQ:NTRS) opened at 71.95 on Monday. The firm has a market capitalization of $16.30 billion, a PE ratio of 17.77 and a beta of 1.13. The stock’s 50 day moving average price is $69.26 and its 200-day moving average price is $68.68. Northern Trust Corp. has a 12 month low of $54.38 and a 12 month high of $76.11.
Northern Trust Corp. (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.22 billion. Northern Trust Corp. had a return on equity of 11.38% and a net margin of 19.38%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 earnings per share. On average, equities analysts anticipate that Northern Trust Corp. will post $4.24 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Friday, September 2nd were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.11%. This is an increase from Northern Trust Corp.’s previous quarterly dividend of $0.36. The ex-dividend date was Wednesday, August 31st. Northern Trust Corp.’s payout ratio is presently 37.53%.
In other news, President William L. Morrison sold 170,563 shares of Northern Trust Corp. stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $67.36, for a total value of $11,489,123.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Clair Joyce St sold 48,110 shares of Northern Trust Corp. 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 disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Primecap Management Co. CA purchased a new position in Northern Trust Corp. during the first quarter worth about $115,703,000. PNC Financial Services Group Inc. boosted its position in Northern Trust Corp. by 651.4% in the second quarter. PNC Financial Services Group Inc. now owns 1,493,608 shares of the company’s stock worth $98,966,000 after buying an additional 1,294,825 shares during the period. FMR LLC boosted its position in Northern Trust Corp. by 13.8% in the second quarter. FMR LLC now owns 8,583,519 shares of the company’s stock worth $568,744,000 after buying an additional 1,041,052 shares during the period. JPMorgan Chase & Co. boosted its position in Northern Trust Corp. by 11.0% in the second quarter. JPMorgan Chase & Co. now owns 7,738,990 shares of the company’s stock worth $512,786,000 after buying an additional 768,081 shares during the period. Finally, Burgundy Asset Management Ltd. boosted its position in Northern Trust Corp. by 35.1% in the first quarter. Burgundy Asset Management Ltd. now owns 2,296,217 shares of the company’s stock worth $149,644,000 after buying an additional 596,065 shares during the period. Institutional investors own 81.71% of the company’s stock.
About Northern Trust Corp.
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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