Northern Trust (NTRS) Raised to Buy at Buckingham Research

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Buckingham Research upgraded shares of Northern Trust (NASDAQ:NTRS) from a neutral rating to a buy rating in a research report report published on Thursday morning, Marketbeat Ratings reports. They currently have $115.00 price target on the asset manager’s stock, up from their prior price target of $104.00.

NTRS has been the subject of several other reports. Raymond James lowered Northern Trust from a strong-buy rating to a market perform rating and set a $89.93 price objective for the company. in a research report on Thursday, January 24th. ValuEngine lowered Northern Trust from a hold rating to a sell rating in a research report on Monday, February 25th. Deutsche Bank decreased their price objective on Northern Trust from $108.00 to $107.00 and set a buy rating for the company in a research report on Friday, November 16th. Vining Sparks reiterated a buy rating and issued a $120.00 price objective on shares of Northern Trust in a research report on Wednesday, January 23rd. Finally, Morgan Stanley cut their target price on Northern Trust from $109.00 to $96.00 and set an underweight rating on the stock in a research note on Tuesday, January 8th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $111.70.

Shares of NTRS traded up $0.89 on Thursday, hitting $95.38. The company’s stock had a trading volume of 58,629 shares, compared to its average volume of 1,264,393. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.64 and a current ratio of 0.64. Northern Trust has a fifty-two week low of $75.96 and a fifty-two week high of $115.61. The firm has a market capitalization of $19.69 billion, a PE ratio of 14.13, a P/E/G ratio of 1.27 and a beta of 1.07.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, January 23rd. The asset manager reported $1.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.19. Northern Trust had a return on equity of 16.62% and a net margin of 23.37%. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the firm earned $1.51 EPS. Northern Trust’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities research analysts predict that Northern Trust will post 6.6 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 8th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.52%. This is a boost from Northern Trust’s previous quarterly dividend of $0.55. Northern Trust’s dividend payout ratio is currently 35.66%.

Several institutional investors have recently made changes to their positions in NTRS. Norges Bank bought a new stake in shares of Northern Trust during the 4th quarter worth approximately $133,737,000. Morgan Stanley raised its stake in shares of Northern Trust by 112.2% during the 3rd quarter. Morgan Stanley now owns 1,933,544 shares of the asset manager’s stock worth $197,472,000 after purchasing an additional 1,022,270 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Northern Trust by 118.1% during the 3rd quarter. Mackenzie Financial Corp now owns 1,852,696 shares of the asset manager’s stock worth $189,216,000 after purchasing an additional 1,003,404 shares in the last quarter. Glenmede Trust Co. NA raised its stake in shares of Northern Trust by 169.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 1,494,466 shares of the asset manager’s stock worth $152,628,000 after purchasing an additional 939,075 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Northern Trust by 18.0% during the 4th quarter. American Century Companies Inc. now owns 4,261,223 shares of the asset manager’s stock worth $356,196,000 after purchasing an additional 648,850 shares in the last quarter. Institutional investors own 77.28% of the company’s stock.

About Northern Trust

Northern Trust Corporation, a financial holding company, provides asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates through Corporate & Institutional Services (C&IS) and Wealth Management segments.

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Analyst Recommendations for Northern Trust (NASDAQ:NTRS)

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