BidaskClub upgraded shares of Northern Trust (NASDAQ:NTRS) from a sell rating to a hold rating in a research note issued to investors on Friday.
Several other analysts have also weighed in on NTRS. Sandler O’Neill reissued a hold rating and issued a $105.00 target price on shares of Northern Trust in a report on Wednesday, January 10th. Morgan Stanley upped their target price on Northern Trust from $104.00 to $110.00 and gave the company an underweight rating in a report on Friday, February 2nd. Vining Sparks reissued a buy rating and issued a $118.00 target price on shares of Northern Trust in a report on Wednesday, January 24th. Wells Fargo & Co set a $105.00 target price on Northern Trust and gave the company a hold rating in a report on Wednesday, December 20th. Finally, Credit Suisse Group upped their target price on Northern Trust from $99.00 to $100.00 and gave the company a neutral rating in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Northern Trust presently has a consensus rating of Hold and a consensus target price of $104.81.
Shares of Northern Trust (NTRS) opened at $108.84 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $24,750.00, a price-to-earnings ratio of 23.21, a price-to-earnings-growth ratio of 1.40 and a beta of 0.98. Northern Trust has a twelve month low of $83.17 and a twelve month high of $108.91.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, March 8th. Northern Trust’s payout ratio is currently 35.82%.
In related news, EVP Jeffrey D. Cohodes sold 6,898 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $105.27, for a total transaction of $726,152.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Frederick H. Waddell sold 44,658 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $97.95, for a total value of $4,374,251.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 225,553 shares of company stock worth $22,734,528. Corporate insiders own 1.27% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. lifted its position in Northern Trust by 393.3% during the second quarter. Macquarie Group Ltd. now owns 7,400 shares of the asset manager’s stock worth $719,000 after buying an additional 5,900 shares during the period. APG Asset Management N.V. lifted its position in Northern Trust by 45.2% during the third quarter. APG Asset Management N.V. now owns 173,104 shares of the asset manager’s stock worth $15,913,000 after buying an additional 53,900 shares during the period. Xact Kapitalforvaltning AB lifted its position in Northern Trust by 2.4% during the third quarter. Xact Kapitalforvaltning AB now owns 29,524 shares of the asset manager’s stock worth $2,714,000 after buying an additional 693 shares during the period. Eagle Ridge Investment Management purchased a new position in Northern Trust during the third quarter worth about $235,000. Finally, Callahan Advisors LLC lifted its position in Northern Trust by 1.2% during the third quarter. Callahan Advisors LLC now owns 62,976 shares of the asset manager’s stock worth $5,789,000 after buying an additional 777 shares during the period. 81.05% of the stock is currently owned by institutional investors and hedge funds.
About Northern Trust
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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