Northern Trust (NASDAQ:NTRS) Hits New 52-Week High – Here’s Why

Shares of Northern Trust Corporation (NASDAQ:NTRS) hit a new 52-week high on Tuesday . The company traded as high as $140.75 and last traded at $140.82, with a volume of 5895 shares. The stock had previously closed at $139.46.

Analyst Ratings Changes

A number of equities research analysts recently commented on NTRS shares. Truist Financial lowered their price objective on shares of Northern Trust from $142.00 to $139.00 and set a “hold” rating on the stock in a research note on Thursday, October 23rd. BMO Capital Markets assumed coverage on Northern Trust in a report on Friday, October 3rd. They issued a “market perform” rating and a $142.00 price target for the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northern Trust in a report on Wednesday, October 8th. Evercore ISI raised their price target on shares of Northern Trust from $125.00 to $135.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Finally, Morgan Stanley raised their price objective on shares of Northern Trust from $127.00 to $131.00 and gave the stock an “underweight” rating in a report on Wednesday, December 17th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $132.46.

Northern Trust Stock Up 0.1%

The stock’s fifty day simple moving average is $130.50 and its two-hundred day simple moving average is $127.75. The company has a market capitalization of $26.56 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 1.50 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.70 and a current ratio of 0.70.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.03. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.02 billion. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.During the same quarter in the previous year, the company earned $2.22 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, December 5th. Northern Trust’s dividend payout ratio is currently 37.30%.

Insider Activity at Northern Trust

In other news, Director Robert Edward Jr. Moritz purchased 3,891 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was purchased at an average price of $128.57 per share, for a total transaction of $500,265.87. Following the completion of the purchase, the director directly owned 6,686 shares in the company, valued at $859,619.02. The trade was a 139.21% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Landers sold 766 shares of Northern Trust stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $124.35, for a total transaction of $95,252.10. Following the completion of the sale, the insider owned 7,313 shares of the company’s stock, valued at $909,371.55. This trade represents a 9.48% decrease in their position. The SEC filing for this sale provides additional information. 0.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Northern Trust

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FNY Investment Advisers LLC bought a new stake in Northern Trust during the second quarter valued at $25,000. Triumph Capital Management acquired a new stake in shares of Northern Trust in the 3rd quarter valued at about $25,000. Hantz Financial Services Inc. increased its position in Northern Trust by 5,225.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after buying an additional 209 shares in the last quarter. AlphaCore Capital LLC grew its stake in Northern Trust by 87.4% in the second quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 97 shares during the period. Finally, Clearstead Trust LLC bought a new stake in Northern Trust during the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

About Northern Trust

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.