Morgan Stanley Boosts Northern Trust (NASDAQ:NTRS) Price Target to $97.00

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

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

Northern Trust Price Performance

Shares of Northern Trust stock opened at $88.40 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $88.02 and its two-hundred day simple moving average is $85.75. The firm has a market cap of $18.09 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.53 and a beta of 1.08. Northern Trust has a 12-month low of $62.44 and a 12-month high of $92.82.

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

Northern Trust Announces Dividend

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

Insider Buying and Selling at Northern Trust

In other news, EVP Mark C. Gossett sold 6,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total transaction of $533,400.00. Following the completion of the sale, the executive vice president now owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Mark C. Gossett sold 6,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the sale, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at $2,552,052.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Teresa Parker sold 5,883 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $84.06, for a total value of $494,524.98. Following the sale, the executive vice president now owns 83,765 shares of the company’s stock, valued at approximately $7,041,285.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,738 shares of company stock valued at $1,191,388. 0.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Northern Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Olistico Wealth LLC bought a new position in shares of Northern Trust during the 2nd quarter valued at approximately $25,000. Innealta Capital LLC purchased a new position in shares of Northern Trust in the 2nd quarter worth $26,000. Spartan Planning & Wealth Management grew its position in Northern Trust by 10,566.7% in the fourth quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock worth $27,000 after acquiring an additional 317 shares in the last quarter. Ridgewood Investments LLC bought a new stake in Northern Trust during the second quarter worth approximately $30,000. Finally, Versant Capital Management Inc lifted its stake in shares of Northern Trust by 343.9% in the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 337 shares during the last quarter. 83.19% of the stock is owned by institutional investors.

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.