Northern Trust Co. (NASDAQ:NTRS) Receives $89.75 Average Price Target from Analysts

Shares of Northern Trust Co. (NASDAQ:NTRS) have been assigned an average rating of “Hold” from the twelve analysts that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $89.75.

Several research analysts recently weighed in on NTRS shares. The Goldman Sachs Group cut Northern Trust from a “neutral” rating to a “sell” rating and reduced their price target for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. Royal Bank of Canada increased their price target on shares of Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Morgan Stanley lifted their price objective on shares of Northern Trust from $93.00 to $97.00 and gave the company an “underweight” rating in a report on Monday, September 30th. Keefe, Bruyette & Woods lowered 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 note on Thursday, June 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a research note on Monday, September 23rd.

Northern Trust Stock Up 2.1 %

NASDAQ:NTRS opened at $90.46 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The company’s fifty day moving average price is $88.06 and its 200-day moving average price is $85.86. Northern Trust has a 1-year low of $62.44 and a 1-year high of $92.82. The firm has a market capitalization of $18.51 billion, a P/E ratio of 19.97, a PEG ratio of 1.53 and a beta of 1.08.

Northern Trust (NASDAQ:NTRS) last announced its quarterly 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 for 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% compared to the same quarter last year. During the same period last year, the firm earned $1.79 EPS. As a group, equities research analysts anticipate that Northern Trust will post 7.01 EPS for the current year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.32%. The ex-dividend date was Friday, September 6th. Northern Trust’s dividend payout ratio is currently 66.23%.

Insider Buying and Selling at Northern Trust

In other news, Director Charles A. Tribbett sold 1,855 shares of the 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Charles A. Tribbett sold 1,855 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the transaction, the director now directly owns 1,000 shares in the company, valued at $88,120. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark C. Gossett sold 6,000 shares of the stock in a transaction that occurred 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 approximately $2,552,052.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,738 shares of company stock worth $1,191,388. Corporate insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

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