Fintel reports that on September 12, 2023, Wells Fargo maintained coverage of Northern Trust (NASDAQ:NTRS) with a Overweight recommendation.
Analyst Price Forecast Suggests 13.36% Upside
As of August 31, 2023, the average one-year price target for Northern Trust is 87.38. The forecasts range from a low of 73.73 to a high of $105.00. The average price target represents an increase of 13.36% from its latest reported closing price of 77.08.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Northern Trust is 7,381MM, an increase of 9.02%. The projected annual non-GAAP EPS is 7.55.
Northern Trust Declares $0.75 Dividend
On July 18, 2023 the company declared a regular quarterly dividend of $0.75 per share ($3.00 annualized). Shareholders of record as of September 8, 2023 will receive the payment on October 1, 2023. Previously, the company paid $0.75 per share.
At the current share price of $77.08 / share, the stock's dividend yield is 3.89%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.94%, the lowest has been 2.06%, and the highest has been 4.50%. The standard deviation of yields is 0.53 (n=236).
The current dividend yield is 1.77 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.51. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.07%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1334 funds or institutions reporting positions in Northern Trust. This is a decrease of 36 owner(s) or 2.63% in the last quarter. Average portfolio weight of all funds dedicated to NTRS is 0.21%, a decrease of 14.85%. Total shares owned by institutions decreased in the last three months by 1.31% to 195,877K shares. 
The put/call ratio of NTRS is 0.98, indicating a bullish outlook.
What are Other Shareholders Doing?
Primecap Management holds 6,232K shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 5,884K shares, representing an increase of 5.58%. The firm decreased its portfolio allocation in NTRS by 14.62% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,190K shares representing 2.99% ownership of the company. In it's prior filing, the firm reported owning 6,145K shares, representing an increase of 0.74%. The firm decreased its portfolio allocation in NTRS by 21.81% over the last quarter.
Northern Trust holds 5,865K shares representing 2.83% ownership of the company. In it's prior filing, the firm reported owning 5,932K shares, representing a decrease of 1.14%. The firm decreased its portfolio allocation in NTRS by 20.10% over the last quarter.
American Century Companies holds 5,318K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 5,635K shares, representing a decrease of 5.97%. The firm decreased its portfolio allocation in NTRS by 24.02% over the last quarter.
Jpmorgan Chase holds 5,028K shares representing 2.43% ownership of the company. In it's prior filing, the firm reported owning 4,652K shares, representing an increase of 7.48%. The firm increased its portfolio allocation in NTRS by 545.97% over the last quarter.
Northern Trust Background Information
(This description is provided by the company.)
Northern Trust Corporation is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2020, Northern Trust had assets under custody/administration of US$13.1 trillion, and assets under management of US$1.3 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation.
Additional reading:
- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM T-1 STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE
- NORTHERN TRUST CORPORATION REPORTS SECOND QUARTER NET INCOME OF $331.8 MILLION, EARNINGS PER DILUTED COMMON SHARE OF $1.56
- Presentation Materials
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