Northern Trust (NASDAQ:NTRS) PT Lowered to $93.00

Northern Trust (NASDAQ:NTRS) had its target price lowered by Morgan Stanley from $97.00 to $93.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has an underweight rating on the asset manager’s stock.

Other equities analysts have also issued reports about the stock. Evercore ISI raised their target price on shares of Northern Trust from $86.00 to $87.00 and gave the company an in-line rating in a report on Thursday, April 4th. Royal Bank of Canada boosted their price target on Northern Trust from $86.00 to $90.00 and gave the stock an outperform rating in a report on Thursday, July 18th. The Goldman Sachs Group dropped their price objective on Northern Trust from $94.00 to $84.00 and set a neutral rating for the company in a research report on Tuesday, July 2nd. Jefferies Financial Group lifted their target price on Northern Trust from $101.00 to $103.00 and gave the company a buy rating in a research report on Thursday, April 18th. Finally, 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $87.33.

Northern Trust Stock Down 2.0 %

NASDAQ NTRS opened at $86.89 on Tuesday. The company has a market cap of $17.78 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 1.32 and a beta of 1.10. Northern Trust has a 1-year low of $62.44 and a 1-year high of $92.46. 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 50 day moving average of $84.57 and a 200-day moving average of $83.59.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.03. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the company posted $1.79 EPS. The company’s revenue was up 53.8% compared to the same quarter last year. On average, equities research analysts expect that Northern Trust will post 7.02 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given 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 3.45%. Northern Trust’s dividend payout ratio is presently 66.23%.

Insiders Place Their Bets

In other news, insider Peter Cherecwich sold 12,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the completion of the transaction, the insider now owns 31,471 shares of the company’s stock, valued at $2,740,809.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its holdings in Northern Trust by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager’s stock valued at $889,000 after acquiring an additional 131 shares during the last quarter. Mather Group LLC. boosted its position in Northern Trust by 3.6% during the fourth quarter. Mather Group LLC. now owns 4,271 shares of the asset manager’s stock valued at $360,000 after acquiring an additional 147 shares during the last quarter. Aviance Capital Partners LLC grew its holdings in Northern Trust by 1.8% during the 4th quarter. Aviance Capital Partners LLC now owns 8,585 shares of the asset manager’s stock worth $724,000 after acquiring an additional 150 shares during the period. Massmutual Trust Co. FSB ADV raised its position in shares of Northern Trust by 23.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 805 shares of the asset manager’s stock worth $68,000 after acquiring an additional 151 shares in the last quarter. Finally, Quent Capital LLC lifted its stake 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 valued at $30,000 after purchasing an additional 158 shares during the period. Institutional investors and hedge funds 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.