Deutsche Bank Aktiengesellschaft Raises Northern Trust (NASDAQ:NTRS) Price Target to $94.00

Northern Trust (NASDAQ:NTRS) had its price target upped by Deutsche Bank Aktiengesellschaft from $84.00 to $94.00 in a research note published on Monday, Benzinga reports. They currently have a hold rating on the asset manager’s stock.

NTRS has been the topic of a number of other reports. The Goldman Sachs Group reduced their target price on shares of Northern Trust from $94.00 to $84.00 and set a neutral rating on the stock in a research report on Tuesday, July 2nd. Keefe, Bruyette & Woods decreased their price objective on shares of 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. Morgan Stanley dropped their target price on Northern Trust from $97.00 to $93.00 and set an underweight rating on the stock in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada increased their price target on Northern Trust from $86.00 to $90.00 and gave the company an outperform rating in a report on Thursday, July 18th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $89.42.

Northern Trust Stock Down 0.9 %

Shares of Northern Trust stock opened at $89.93 on Monday. Northern Trust has a twelve month low of $62.44 and a twelve month high of $92.82. The stock has a market cap of $18.13 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 1.53 and a beta of 1.08. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average price of $87.72 and a 200 day moving average price of $85.47.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, topping the consensus estimate 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 company’s revenue was up 53.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.79 earnings per share. Equities research analysts forecast that Northern Trust will post 7.01 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.00 annualized dividend and a yield of 3.34%. Northern Trust’s dividend payout ratio (DPR) is 66.23%.

Insider Buying and Selling at Northern Trust

In other news, EVP Teresa Parker sold 5,883 shares of the 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 sale, the executive vice president now directly owns 83,765 shares in the company, valued at approximately $7,041,285.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of the stock in a transaction on 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 directly owns 83,765 shares of the company’s stock, valued at $7,041,285.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark C. Gossett sold 6,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total transaction of $533,400.00. Following the transaction, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. The disclosure for this sale can be found here. Insiders sold a total of 13,738 shares of company stock worth $1,191,388 over the last ninety days. Company insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

Large investors have recently made changes to their positions in the company. Olistico Wealth LLC bought a new position in Northern Trust in the 2nd quarter worth approximately $25,000. Innealta Capital LLC acquired a new position in Northern Trust during the 2nd quarter worth $26,000. Spartan Planning & Wealth Management grew its stake in shares of 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 purchasing an additional 317 shares in the last quarter. Ridgewood Investments LLC acquired a new position in shares of Northern Trust during the second quarter valued at $30,000. Finally, Versant Capital Management Inc raised its stake in shares of Northern Trust by 343.9% during the second 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 in 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.