Northern Trust (NASDAQ:NTRS) Reaches New 12-Month High – Here’s What Happened

Shares of Northern Trust Co. (NASDAQ:NTRS) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $110.39 and last traded at $109.75, with a volume of 40722 shares trading hands. The stock had previously closed at $109.46.

Analyst Upgrades and Downgrades

NTRS has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Morgan Stanley increased their price objective on shares of Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Evercore ISI raised their price target on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Royal Bank of Canada boosted their price objective on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, StockNews.com upgraded Northern Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Northern Trust has an average rating of “Hold” and an average target price of $100.67.

Northern Trust Stock Up 0.6 %

The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market cap of $21.82 billion, a P/E ratio of 13.61, a P/E/G ratio of 1.23 and a beta of 1.06. The business’s 50 day moving average is $97.76 and its 200 day moving average is $89.79.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is currently 37.31%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, EVP Thomas A. South sold 5,000 shares of Northern Trust stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $105.80, for a total value of $529,000.00. Following the transaction, the executive vice president now directly owns 49,756 shares of the company’s stock, valued at approximately $5,264,184.80. The trade was a 9.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark C. Gossett sold 6,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the sale, the executive vice president now owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. This represents a 17.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 80,906 shares of company stock worth $8,176,652 over the last quarter. Insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

Large investors have recently modified their holdings of the business. FMR LLC boosted its stake in Northern Trust by 9.3% in the 3rd quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock worth $1,637,435,000 after purchasing an additional 1,542,685 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Northern Trust by 13.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock worth $622,596,000 after buying an additional 850,556 shares during the period. Panagora Asset Management Inc. grew its holdings in shares of Northern Trust by 4,660.5% during the second quarter. Panagora Asset Management Inc. now owns 399,932 shares of the asset manager’s stock valued at $33,586,000 after buying an additional 391,531 shares during the last quarter. Primecap Management Co. CA increased its position in shares of Northern Trust by 3.9% in the 2nd quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock valued at $591,787,000 after acquiring an additional 261,285 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Northern Trust by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock worth $168,253,000 after acquiring an additional 219,387 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

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.