Several other equities analysts also recently issued reports on NTRS. Zacks Investment Research downgraded Northern Trust from a buy rating to a hold rating in a research report on Friday, May 17th. Deutsche Bank reduced their price objective on Northern Trust from $91.00 to $87.00 and set a hold rating for the company in a research report on Wednesday, August 21st. Morgan Stanley set a $89.00 price objective on Northern Trust and gave the stock a sell rating in a research report on Friday, August 9th. Citigroup downgraded Northern Trust from a neutral rating to a sell rating and reduced their price objective for the stock from $94.00 to $85.00 in a research report on Friday, July 12th. Finally, Wells Fargo & Co set a $110.00 price objective on Northern Trust and gave the stock a buy rating in a research report on Friday, August 16th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $104.00.
NTRS stock traded up $1.35 during midday trading on Thursday, reaching $98.91. The company had a trading volume of 115,213 shares, compared to its average volume of 945,089. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.40. The stock has a 50 day moving average price of $90.45 and a 200 day moving average price of $91.60. Northern Trust has a fifty-two week low of $75.96 and a fifty-two week high of $107.45. The firm has a market capitalization of $20.96 billion, a PE ratio of 14.70, a P/E/G ratio of 1.68 and a beta of 1.19.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.83%. This is an increase from Northern Trust’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, September 12th. Northern Trust’s dividend payout ratio is 35.66%.
In other Northern Trust news, CFO Biff Bowman sold 46,204 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $92.81, for a total value of $4,288,193.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert P. Browne sold 21,612 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $99.61, for a total value of $2,152,771.32. The disclosure for this sale can be found here. Insiders sold 99,411 shares of company stock valued at $9,583,719 over the last 90 days. 1.15% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTRS. Boston Partners bought a new position in shares of Northern Trust in the second quarter valued at $103,000. Treasurer of the State of North Carolina increased its holdings in shares of Northern Trust by 4.5% in the second quarter. Treasurer of the State of North Carolina now owns 98,558 shares of the asset manager’s stock valued at $8,870,000 after buying an additional 4,264 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Northern Trust by 0.5% in the second quarter. BlackRock Inc. now owns 13,947,938 shares of the asset manager’s stock valued at $1,255,316,000 after buying an additional 72,688 shares in the last quarter. Empire Life Investments Inc. increased its holdings in shares of Northern Trust by 5.0% in the second quarter. Empire Life Investments Inc. now owns 322,937 shares of the asset manager’s stock valued at $29,064,000 after buying an additional 15,291 shares in the last quarter. Finally, Maverick Capital Ltd. bought a new position in shares of Northern Trust in the second quarter valued at $5,556,000. Hedge funds and other institutional investors own 80.88% of the company’s stock.
Northern Trust Company Profile
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, Corporate & Institutional Services (C&IS) and Wealth Management.
Further Reading: Limitations of the P/E Growth ratio
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