Northern Trust (NASDAQ:NTRS) Cut to Hold at StockNews.com

StockNews.com cut shares of Northern Trust (NASDAQ:NTRS) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

Several other equities analysts have also weighed in on NTRS. Royal Bank of Canada increased their price objective on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Morgan Stanley lifted their price objective on Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. UBS Group boosted their price objective on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Barclays increased their target price on shares of Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Finally, Bank of America boosted their price target on shares of Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Northern Trust presently has a consensus rating of “Hold” and an average target price of $100.67.

Northern Trust Trading Up 0.5 %

NASDAQ NTRS opened at $111.16 on Wednesday. The stock has a market capitalization of $22.03 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.24 and a beta of 1.06. The business’s fifty day moving average is $99.73 and its 200-day moving average is $90.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust has a one year low of $76.67 and a one year high of $111.87.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.70%. Northern Trust’s dividend payout ratio (DPR) is currently 37.31%.

Insider Buying and Selling

In related news, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the sale, the director now directly owns 1,000 shares of the company’s stock, valued at $88,120. This trade represents a 64.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas A. South sold 5,000 shares of Northern Trust stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $105.80, for a total transaction of $529,000.00. Following the sale, the executive vice president now owns 49,756 shares of the company’s stock, valued at approximately $5,264,184.80. The trade was a 9.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,906 shares of company stock worth $7,643,252. Corporate insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

A number of large investors have recently added to or reduced their stakes in the company. Olistico Wealth LLC bought a new position in shares of Northern Trust during the 2nd quarter valued at about $25,000. Innealta Capital LLC purchased a new stake in Northern Trust in the second quarter worth approximately $26,000. Ridgewood Investments LLC bought a new position in Northern Trust during the second quarter valued at approximately $30,000. Versant Capital Management Inc raised its stake in shares of Northern Trust by 343.9% during the second quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock worth $37,000 after acquiring an additional 337 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Northern Trust in the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

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.