The Goldman Sachs Group Trims Northern Trust (NASDAQ:NTRS) Target Price to $84.00

Northern Trust (NASDAQ:NTRS) had its price target decreased by The Goldman Sachs Group from $94.00 to $84.00 in a report released on Tuesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the asset manager’s stock.

NTRS has been the subject of several other reports. Bank of America raised their price target on shares of Northern Trust from $93.00 to $101.00 and gave the company a buy rating in a report on Wednesday, April 17th. Jefferies Financial Group lifted their price objective on shares of Northern Trust from $101.00 to $103.00 and gave the stock a buy rating in a report on Thursday, April 18th. Evercore ISI lifted their price objective on shares of Northern Trust from $86.00 to $87.00 and gave the stock an in-line rating in a report on Thursday, April 4th. Finally, Keefe, Bruyette & Woods dropped 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 report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $86.42.

Northern Trust Stock Up 0.2 %

Shares of NASDAQ:NTRS opened at $84.40 on Tuesday. The firm has a fifty day moving average price of $83.63 and a two-hundred day moving average price of $83.17. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust has a one year low of $62.44 and a one year high of $89.25. The company has a market cap of $17.27 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 1.18 and a beta of 1.10.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Tuesday, April 16th. The asset manager reported $1.70 EPS for the quarter, beating the consensus estimate of $1.47 by $0.23. Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.79 billion. Analysts anticipate that Northern Trust will post 6.92 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date was Friday, June 7th. Northern Trust’s payout ratio is presently 66.23%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Northern Trust

A number of hedge funds have recently modified their holdings of the company. Bank of Nova Scotia increased its position in shares of Northern Trust by 12.2% during the third quarter. Bank of Nova Scotia now owns 20,419 shares of the asset manager’s stock valued at $1,419,000 after buying an additional 2,224 shares during the period. AQR Capital Management LLC increased its position in shares of Northern Trust by 168.3% during the third quarter. AQR Capital Management LLC now owns 407,683 shares of the asset manager’s stock valued at $28,326,000 after buying an additional 255,740 shares during the period. Royal London Asset Management Ltd. increased its position in shares of Northern Trust by 9.2% during the third quarter. Royal London Asset Management Ltd. now owns 75,458 shares of the asset manager’s stock valued at $5,243,000 after buying an additional 6,368 shares during the period. Studio Investment Management LLC increased its position in shares of Northern Trust by 52.3% during the third quarter. Studio Investment Management LLC now owns 7,864 shares of the asset manager’s stock valued at $550,000 after buying an additional 2,699 shares during the period. Finally, Diversified Trust Co increased its position in shares of Northern Trust by 9.3% during the third quarter. Diversified Trust Co now owns 8,375 shares of the asset manager’s stock valued at $582,000 after buying an additional 715 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Company Profile

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.