Northern Trust (NASDAQ:NTRS) Price Target Raised to $121.00 at Evercore ISI

Northern Trust (NASDAQ:NTRS) had its target price boosted by Evercore ISI from $108.00 to $121.00 in a research report report published on Wednesday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the asset manager’s stock.

Other research analysts have also issued research reports about the company. Royal Bank Of Canada reduced their target price on Northern Trust from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company cut their target price on 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. Morgan Stanley upped their target price on Northern Trust from $103.00 to $106.00 and gave the stock an “underweight” rating in a research note on Tuesday. Citigroup cut their target price on Northern Trust from $110.00 to $105.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Finally, Truist Financial lowered their price objective on Northern Trust from $98.00 to $92.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $114.67.

Northern Trust Price Performance

NTRS opened at $131.71 on Wednesday. Northern Trust has a fifty-two week low of $80.81 and a fifty-two week high of $133.00. The firm has a 50-day moving average of $109.22 and a 200 day moving average of $104.57. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $25.62 billion, a P/E ratio of 12.29, a PEG ratio of 1.97 and a beta of 1.26.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 EPS for the quarter, topping the consensus estimate of $1.85 by $0.05. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. Northern Trust had a net margin of 13.93% and a return on equity of 13.73%. On average, research analysts expect that Northern Trust will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.28%. The ex-dividend date was Friday, June 6th. Northern Trust’s payout ratio is 27.99%.

Insider Activity at Northern Trust

In related news, insider Teresa Parker sold 6,467 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $100.62, for a total value of $650,709.54. Following the transaction, the insider owned 79,391 shares of the company’s stock, valued at $7,988,322.42. This represents a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Clive Bellows sold 3,300 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $99.95, for a total value of $329,835.00. Following the transaction, the executive vice president directly owned 28,736 shares in the company, valued at approximately $2,872,163.20. The trade was a 10.30% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,772 shares of company stock worth $981,069. Corporate insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

Institutional investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA boosted its position in Northern Trust by 4.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager’s stock worth $774,411,000 after purchasing an additional 363,472 shares during the period. Geode Capital Management LLC lifted its holdings in Northern Trust by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 4,904,871 shares of the asset manager’s stock worth $501,444,000 after buying an additional 30,908 shares during the last quarter. Invesco Ltd. lifted its holdings in Northern Trust by 19.3% during the 1st quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager’s stock worth $339,711,000 after buying an additional 558,287 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Northern Trust by 0.7% in the 1st quarter. American Century Companies Inc. now owns 3,013,123 shares of the asset manager’s stock worth $297,245,000 after purchasing an additional 20,010 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Northern Trust by 1.6% in the 4th quarter. Wellington Management Group LLP now owns 2,532,401 shares of the asset manager’s stock worth $259,571,000 after purchasing an additional 39,592 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.