Northern Trust Co. (NASDAQ:NTRS) Given Average Rating of “Hold” by Brokerages

Northern Trust Co. (NASDAQ:NTRS) has earned a consensus recommendation of “Hold” from the twelve analysts that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $99.33.

A number of brokerages have recently issued reports on NTRS. Wells Fargo & Company boosted their target price on shares of Northern Trust from $92.00 to $108.00 and gave the company an “equal weight” rating in a research note on Thursday. UBS Group boosted their price objective on shares of Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Bank of America raised their target price on shares of Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley boosted their price target on Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a report on Thursday. Finally, Royal Bank of Canada raised their price objective on Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday.

Insider Activity at Northern Trust

In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the sale, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $88,120. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Mark C. Gossett sold 6,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the transaction, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at $2,552,052.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 transaction of $163,462.60. Following the sale, the director now directly owns 1,000 shares in the company, valued at approximately $88,120. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,738 shares of company stock valued at $1,191,388 over the last quarter. 0.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NTRS. Oak Harvest Investment Services purchased a new position in Northern Trust in the 3rd quarter worth $9,894,000. Fiducient Advisors LLC acquired a new position in shares of Northern Trust in the third quarter valued at about $6,292,000. First Trust Direct Indexing L.P. raised its stake in shares of Northern Trust by 20.9% in the third quarter. First Trust Direct Indexing L.P. now owns 6,038 shares of the asset manager’s stock worth $544,000 after purchasing an additional 1,043 shares during the last quarter. abrdn plc lifted its holdings in shares of Northern Trust by 5.7% during the third quarter. abrdn plc now owns 504,483 shares of the asset manager’s stock worth $45,272,000 after purchasing an additional 27,246 shares during the period. Finally, Pallas Capital Advisors LLC boosted its position in Northern Trust by 21.0% in the third quarter. Pallas Capital Advisors LLC now owns 5,984 shares of the asset manager’s stock valued at $539,000 after buying an additional 1,037 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Price Performance

Shares of NTRS stock opened at $100.19 on Friday. The stock has a 50 day moving average price of $90.84 and a 200 day moving average price of $86.64. Northern Trust has a 52-week low of $63.43 and a 52-week high of $104.25. 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 $20.50 billion, a P/E ratio of 22.12, a P/E/G ratio of 1.65 and a beta of 1.08.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is currently 66.23%.

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.