Northern Trust (NASDAQ:NTRS) Price Target Increased to $97.00 by Analysts at Morgan Stanley

Northern Trust (NASDAQ:NTRS) had its target price lifted by Morgan Stanley from $93.00 to $97.00 in a research report sent to investors on Monday morning, Benzinga reports. Morgan Stanley currently has an underweight rating on the asset manager’s stock.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada lifted their target price on shares of Northern Trust from $86.00 to $90.00 and gave the stock an outperform rating in a research report on Thursday, July 18th. The Goldman Sachs Group cut shares of Northern Trust from a neutral rating to a sell rating and reduced their price objective for the stock from $84.00 to $82.00 in a research note on Thursday, September 26th. Keefe, Bruyette & Woods lowered their target price on Northern Trust from $92.00 to $85.00 and set a market perform rating for the company in a research report on Thursday, June 27th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Northern Trust from $84.00 to $94.00 and gave the company a hold rating in a research report on Monday, September 23rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $89.75.

Northern Trust Stock Up 0.2 %

Shares of NASDAQ:NTRS opened at $88.57 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust has a 52-week low of $62.44 and a 52-week high of $92.82. The company has a market capitalization of $18.12 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 1.53 and a beta of 1.08. The company has a fifty day moving average of $88.03 and a 200-day moving average of $85.77.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.03. The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The business’s revenue for the quarter was up 53.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.79 EPS. On average, equities analysts predict that Northern Trust will post 7.01 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.39%. The ex-dividend date was Friday, September 6th. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

Insider Transactions at Northern Trust

In related news, Director Charles A. Tribbett sold 1,855 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the transaction, the director now owns 1,000 shares in the company, valued at approximately $88,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Teresa Parker sold 5,883 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $84.06, for a total transaction of $494,524.98. Following the transaction, the executive vice president now directly owns 83,765 shares of the company’s stock, valued at $7,041,285.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the transaction, the director now owns 1,000 shares in the company, valued at $88,120. The disclosure for this sale can be found here. Insiders sold a total of 13,738 shares of company stock valued at $1,191,388 in the last quarter. 0.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Olistico Wealth LLC acquired a new position in shares of Northern Trust during the second quarter valued at about $25,000. Innealta Capital LLC bought a new position in Northern Trust in the 2nd quarter valued at about $26,000. Spartan Planning & Wealth Management boosted its stake in Northern Trust by 10,566.7% during the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 317 shares during the last quarter. Ridgewood Investments LLC bought a new stake in Northern Trust during the 2nd quarter worth approximately $30,000. Finally, Versant Capital Management Inc raised its stake in shares of Northern Trust by 343.9% in the second quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock worth $37,000 after purchasing an additional 337 shares during the last quarter. Institutional investors and hedge funds 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.