Keefe, Bruyette & Woods Cuts Northern Trust (NASDAQ:NTRS) Price Target to $85.00

Northern Trust (NASDAQ:NTRS) had its target price cut by Keefe, Bruyette & Woods from $92.00 to $85.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a market perform rating on the asset manager’s stock.

Several other research analysts have also recently commented on NTRS. Bank of America boosted their target price on Northern Trust from $93.00 to $101.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Evercore ISI lifted their price target on Northern Trust from $86.00 to $87.00 and gave the stock an in-line rating in a report on Thursday, April 4th. Finally, Jefferies Financial Group lifted their price target on Northern Trust from $101.00 to $103.00 and gave the stock a buy rating in a report on Thursday, April 18th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $85.75.

Northern Trust Trading Up 1.7 %

NTRS opened at $83.98 on Thursday. Northern Trust has a 12 month low of $62.44 and a 12 month high of $89.25. The stock has a market capitalization of $17.18 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.17 and a beta of 1.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71. The business has a fifty day moving average price of $83.62 and a 200 day moving average price of $83.18.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Tuesday, April 16th. The asset manager reported $1.70 EPS for the quarter, topping the consensus estimate of $1.47 by $0.23. Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Sell-side analysts expect that Northern Trust will post 6.88 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Friday, June 7th. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

Insider Activity at Northern Trust

In related news, insider Steven L. Fradkin sold 4,097 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total value of $338,248.32. Following the transaction, the insider now owns 46,078 shares in the company, valued at approximately $3,804,199.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Steven L. Fradkin sold 4,097 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total value of $338,248.32. Following the transaction, the insider now owns 46,078 shares in the company, valued at approximately $3,804,199.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Peter Cherecwich sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $87.09, for a total value of $1,045,080.00. Following the transaction, the insider now owns 31,471 shares in the company, valued at approximately $2,740,809.39. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Northern Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTRS. Spartan Planning & Wealth Management increased its position 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 worth $27,000 after purchasing an additional 317 shares during the period. Fortitude Family Office LLC acquired a new position in Northern Trust during the 4th quarter worth approximately $28,000. Quent Capital LLC grew its holdings in shares of Northern Trust by 77.8% in the 4th quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after acquiring an additional 158 shares during the period. Allworth Financial LP grew its holdings in shares of Northern Trust by 94.1% in the 4th quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock worth $30,000 after acquiring an additional 174 shares during the period. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of Northern Trust in the 4th quarter worth approximately $45,000. 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.