Analysts Set Northern Trust Corporation (NASDAQ:NTRS) Price Target at $116.58

Northern Trust Corporation (NASDAQ:NTRS) has earned an average rating of “Reduce” from the thirteen brokerages that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $116.58.

Several research firms have recently weighed in on NTRS. Evercore ISI raised their price objective on Northern Trust from $108.00 to $121.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 2nd. The Goldman Sachs Group raised their price objective on Northern Trust from $89.00 to $101.00 and gave the stock a “sell” rating in a research note on Wednesday, July 2nd. Bank of America reduced their price objective on Northern Trust from $123.00 to $121.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Wells Fargo & Company raised their price objective on Northern Trust from $111.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 24th. Finally, Wolfe Research upgraded Northern Trust from an “underperform” rating to a “peer perform” rating in a report on Thursday, July 24th.

Insider Buying and Selling 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 transaction of $650,709.54. Following the completion of the sale, the insider directly owned 79,391 shares in the company, valued at approximately $7,988,322.42. This trade represents a 7.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Clive Bellows sold 3,300 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $99.95, for a total value of $329,835.00. Following the sale, the executive vice president owned 28,736 shares of the company’s stock, valued at approximately $2,872,163.20. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,772 shares of company stock valued at $981,069. 0.77% of the stock is owned by corporate insiders.

Institutional Trading of Northern Trust

Several hedge funds and other institutional investors have recently modified their holdings of NTRS. FNY Investment Advisers LLC bought a new position in Northern Trust during the second quarter valued at about $25,000. Colonial Trust Co SC raised its holdings in Northern Trust by 6,400.0% during the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock valued at $27,000 after buying an additional 256 shares in the last quarter. Continuum Advisory LLC raised its holdings in Northern Trust by 5,340.0% during the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock valued at $27,000 after buying an additional 267 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in Northern Trust during the first quarter valued at about $29,000. Finally, Wayfinding Financial LLC bought a new position in Northern Trust during the first quarter valued at about $35,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Stock Performance

NTRS opened at $131.56 on Monday. The firm has a market cap of $25.59 billion, a PE ratio of 15.46, a P/E/G ratio of 1.75 and a beta of 1.26. The company has a quick ratio of 0.71, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $118.64 and a 200-day simple moving average of $107.65. Northern Trust has a fifty-two week low of $80.81 and a fifty-two week high of $133.00.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.05. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%. The company’s revenue was down 26.4% compared to the same quarter last year. During the same period last year, the company posted $4.34 EPS. As a group, equities analysts predict that Northern Trust will post 8.27 EPS for the current fiscal year.

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.43%. This is a positive change from Northern Trust’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, September 5th. Northern Trust’s dividend payout ratio (DPR) is currently 35.25%.

Northern Trust Company Profile

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.