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

Shares of Northern Trust Co. (NASDAQ:NTRS) have earned a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $84.92.

NTRS has been the topic of a number of research reports. Evercore ISI lifted their price objective on Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. TheStreet upgraded Northern Trust from a “c+” rating to a “b-” rating in a report on Friday, January 12th. Morgan Stanley reiterated an “underweight” rating and issued a $86.00 target price (up previously from $82.00) on shares of Northern Trust in a report on Tuesday, January 30th. UBS Group lifted their target price on Northern Trust from $72.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Finally, Bank of America lifted their target price on Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th.

Insiders Place Their Bets

In other Northern Trust news, insider Steven L. Fradkin sold 30,392 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total value of $2,434,703.12. Following the completion of the sale, the insider now directly owns 55,707 shares in the company, valued at approximately $4,462,687.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Northern Trust news, insider Steven L. Fradkin sold 30,392 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total value of $2,434,703.12. Following the completion of the sale, the insider now directly owns 55,707 shares in the company, valued at approximately $4,462,687.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven L. Fradkin sold 4,097 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total value of $338,248.32. Following the completion of the sale, the insider now owns 46,078 shares of the company’s stock, valued at $3,804,199.68. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NTRS. Spartan Planning & Wealth Management raised its position in shares of Northern Trust by 10,566.7% in the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock worth $27,000 after acquiring an additional 317 shares in the last quarter. Fortitude Family Office LLC purchased a new position in shares of Northern Trust during the 4th quarter valued at approximately $28,000. Quent Capital LLC grew its position in shares of Northern Trust by 77.8% in the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 158 shares during the period. Allworth Financial LP raised its position in shares of Northern Trust by 94.1% during the 4th quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock worth $30,000 after purchasing an additional 174 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Northern Trust by 147.5% in the 3rd quarter. Covestor Ltd now owns 604 shares of the asset manager’s stock valued at $42,000 after buying an additional 360 shares in the last quarter. 83.19% of the stock is owned by institutional investors.

Northern Trust Trading Up 1.3 %

Shares of Northern Trust stock opened at $84.62 on Friday. Northern Trust has a 1-year low of $62.44 and a 1-year high of $89.25. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $17.31 billion, a PE ratio of 18.68, a P/E/G ratio of 1.19 and a beta of 1.13. The company’s fifty day simple moving average is $83.93 and its 200-day simple moving average is $79.95.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend is Friday, June 7th. Northern Trust’s payout ratio 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.