Northern Trust (NASDAQ:NTRS) Price Target Raised to $92.00

Northern Trust (NASDAQ:NTRS) had its target price increased by UBS Group from $86.00 to $92.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

Other research analysts have also issued reports about the company. Royal Bank of Canada increased their price objective on Northern Trust from $86.00 to $90.00 and gave the company an outperform rating in a research report on Thursday, July 18th. Keefe, Bruyette & Woods decreased their price objective on 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. Morgan Stanley increased their price objective on Northern Trust from $93.00 to $97.00 and gave the company an underweight rating in a research report on Monday, September 30th. The Goldman Sachs Group lowered Northern Trust from a neutral rating to a sell rating and decreased their price objective for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective 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 investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Northern Trust has an average rating of Hold and an average target price of $90.42.

Northern Trust Trading Down 0.5 %

NTRS stock opened at $91.09 on Tuesday. Northern Trust has a 1-year low of $62.44 and a 1-year high of $92.82. The firm has a market cap of $18.37 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.44 and a beta of 1.08. The business’s 50 day moving average is $88.19 and its 200-day moving average is $85.97. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.03. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The company’s revenue was up 53.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.79 EPS. Equities analysts anticipate that Northern Trust will post 7.04 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.29%. The ex-dividend date was Friday, September 6th. Northern Trust’s payout ratio is presently 41.04%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of Northern Trust 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 $7,041,285.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of Northern Trust 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 $7,041,285.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the sale, the director now directly owns 1,000 shares in the company, valued at $88,120. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,738 shares of company stock valued at $1,191,388 in the last 90 days. 0.64% of the stock is currently owned by company insiders.

Institutional Trading of Northern Trust

A number of hedge funds and other institutional investors have recently modified their holdings of NTRS. The Manufacturers Life Insurance Company increased its position in shares of Northern Trust by 3.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 154,983 shares of the asset manager’s stock valued at $13,077,000 after acquiring an additional 5,082 shares during the last quarter. Seven Eight Capital LP increased its position in shares of Northern Trust by 9.7% in the fourth quarter. Seven Eight Capital LP now owns 5,913 shares of the asset manager’s stock valued at $499,000 after acquiring an additional 525 shares during the last quarter. State of Tennessee Treasury Department increased its position in shares of Northern Trust by 33.1% in the fourth quarter. State of Tennessee Treasury Department now owns 131,210 shares of the asset manager’s stock valued at $11,072,000 after acquiring an additional 32,603 shares during the last quarter. Vivaldi Capital Management LP increased its position in shares of Northern Trust by 4.3% in the fourth quarter. Vivaldi Capital Management LP now owns 5,447 shares of the asset manager’s stock valued at $422,000 after acquiring an additional 225 shares during the last quarter. Finally, Bayesian Capital Management LP grew its holdings in Northern Trust by 986.3% during the fourth quarter. Bayesian Capital Management LP now owns 37,900 shares of the asset manager’s stock worth $3,198,000 after purchasing an additional 34,411 shares during the period. 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.