Brokerages Set Northern Trust Co. (NASDAQ:NTRS) Target Price at $110.83

Northern Trust Co. (NASDAQ:NTRS) has received a consensus rating of “Hold” from the twelve brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $110.83.

A number of research analysts have recently commented on NTRS shares. Wells Fargo & Company dropped their price objective on shares of Northern Trust from $118.00 to $111.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 23rd. Evercore ISI dropped their price objective on shares of Northern Trust from $104.00 to $100.00 and set an “in-line” rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley dropped their target price on shares of Northern Trust from $136.00 to $132.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 2nd. Bank of America dropped their target price on shares of Northern Trust from $123.00 to $121.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Finally, StockNews.com downgraded shares of Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, EVP Clive Bellows sold 3,300 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the sale, the executive vice president now owns 28,736 shares of the company’s stock, valued at $2,872,163.20. This trade represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas A. South sold 3,804 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total transaction of $429,852.00. Following the sale, the executive vice president now directly owns 81,794 shares of the company’s stock, valued at $9,242,722. The trade was a 4.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,571 shares of company stock valued at $1,410,397 over the last 90 days. 0.77% of the stock is owned by corporate insiders.

Institutional Trading of Northern Trust

Hedge funds have recently made changes to their positions in the stock. Ballentine Partners LLC grew its position in shares of Northern Trust by 4.4% during the fourth quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager’s stock worth $255,000 after buying an additional 105 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Northern Trust by 24.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,061 shares of the asset manager’s stock worth $2,286,000 after buying an additional 4,374 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Northern Trust by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock worth $386,809,000 after buying an additional 388,692 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Northern Trust during the fourth quarter worth approximately $7,437,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Northern Trust by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager’s stock worth $129,909,000 after buying an additional 8,102 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Trading Up 0.4%

NASDAQ NTRS opened at $107.90 on Wednesday. Northern Trust has a 12 month low of $79.68 and a 12 month high of $114.67. The company has a 50-day moving average of $95.44 and a 200-day moving average of $103.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. The company has a market cap of $20.99 billion, a P/E ratio of 11.03, a P/E/G ratio of 1.72 and a beta of 1.18.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.05. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.95 billion. As a group, equities analysts predict that Northern Trust will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, June 6th. Northern Trust’s dividend payout ratio (DPR) is 27.99%.

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.