Northern Trust (NTRS) Shares Gap Down to $94.37

Northern Trust Co. (NASDAQ:NTRS) shares gapped down before the market opened on Thursday . The stock had previously closed at $96.50, but opened at $94.37. Northern Trust shares last traded at $90.94, with a volume of 2694428 shares.

Several brokerages recently issued reports on NTRS. Wells Fargo & Co raised shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $126.00 target price on the stock in a research note on Wednesday, November 7th. Deutsche Bank cut their target price on shares of Northern Trust from $119.00 to $118.00 and set a “hold” rating on the stock in a research note on Thursday, August 16th. BidaskClub lowered shares of Northern Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Wolfe Research began coverage on shares of Northern Trust in a research note on Tuesday, September 25th. They set a “market perform” rating on the stock. Finally, Sandler O’Neill raised shares of Northern Trust from a “hold” rating to a “buy” rating and set a $114.00 target price on the stock in a research note on Thursday, October 18th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Northern Trust currently has a consensus rating of “Buy” and a consensus target price of $117.94.

The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $20.89 billion, a PE ratio of 18.62, a PEG ratio of 1.21 and a beta of 0.97.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, October 17th. The asset manager reported $1.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.03). Northern Trust had a return on equity of 15.75% and a net margin of 23.28%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the business posted $1.20 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. Analysts forecast that Northern Trust Co. will post 6.59 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, December 13th. This represents a $2.20 dividend on an annualized basis and a yield of 2.45%. Northern Trust’s dividend payout ratio is presently 45.55%.

Large investors have recently modified their holdings of the business. BlueMountain Capital Management LLC boosted its position in Northern Trust by 438.2% during the third quarter. BlueMountain Capital Management LLC now owns 1,071 shares of the asset manager’s stock worth $109,000 after purchasing an additional 872 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in Northern Trust by 8,671.4% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,228 shares of the asset manager’s stock worth $126,000 after purchasing an additional 1,214 shares during the period. TLP Group LLC boosted its position in Northern Trust by 282.8% during the third quarter. TLP Group LLC now owns 1,382 shares of the asset manager’s stock worth $141,000 after purchasing an additional 1,021 shares during the period. Sageworth Trust Co boosted its position in Northern Trust by 296.3% during the third quarter. Sageworth Trust Co now owns 1,407 shares of the asset manager’s stock worth $144,000 after purchasing an additional 1,052 shares during the period. Finally, Qube Research & Technologies Ltd boosted its position in Northern Trust by 64.2% during the second quarter. Qube Research & Technologies Ltd now owns 1,813 shares of the asset manager’s stock worth $187,000 after purchasing an additional 709 shares during the period. Hedge funds and other institutional investors own 79.12% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Northern Trust (NTRS) Shares Gap Down to $94.37” was reported by WKRB News and is the property of of WKRB News. If you are reading this news story on another website, it was copied illegally and republished in violation of U.S. and international copyright law. The original version of this news story can be accessed at https://www.wkrb13.com/2018/12/07/northern-trust-ntrs-shares-gap-down-to-94-37.html.

About Northern Trust (NASDAQ:NTRS)

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.

Recommended Story: Bond

Receive News & Ratings for Northern Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply