Brokerages Set Northern Trust Co. (NASDAQ:NTRS) Target Price at $130.00

Shares of Northern Trust Co. (NASDAQ:NTRS – Get Rating) have been given an average rating of “Hold” by the fifteen research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $130.00.

A number of equities research analysts have recently weighed in on NTRS shares. Morgan Stanley cut their price target on Northern Trust from $135.00 to $126.00 and set an “equal weight” rating on the stock in a report on Monday, March 28th. StockNews.com started coverage on Northern Trust in a report on Thursday, March 31st. They set a “hold” rating on the stock. Seaport Res Ptn raised Northern Trust from a “neutral” rating to a “buy” rating in a report on Wednesday, January 5th. Deutsche Bank Aktiengesellschaft dropped their target price on Northern Trust from $152.00 to $148.00 and set a “buy” rating on the stock in a report on Friday, February 18th. Finally, Barclays boosted their target price on Northern Trust from $131.00 to $133.00 in a report on Monday, January 3rd.

In other news, EVP Lauren E. Allnutt sold 393 shares of the business’s stock in a transaction on Thursday, March 10th. The shares were sold at an average price of $105.61, for a total transaction of $41,504.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jason J. Tyler sold 1,936 shares of the business’s stock in a transaction on Monday, January 31st. The shares were sold at an average price of $115.60, for a total transaction of $223,801.60. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Northern Trust in the 4th quarter valued at $160,474,000. Invesco Ltd. lifted its stake in shares of Northern Trust by 26.9% in the 3rd quarter. Invesco Ltd. now owns 2,464,135 shares of the asset manager’s stock valued at $265,659,000 after purchasing an additional 523,077 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Northern Trust by 10.5% in the 4th quarter. Geode Capital Management LLC now owns 4,190,579 shares of the asset manager’s stock valued at $500,059,000 after purchasing an additional 397,234 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Northern Trust by 14.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,010,268 shares of the asset manager’s stock worth $360,059,000 after acquiring an additional 379,175 shares during the last quarter. Finally, Balyasny Asset Management LLC increased its holdings in shares of Northern Trust by 180.1% during the 3rd quarter. Balyasny Asset Management LLC now owns 568,161 shares of the asset manager’s stock worth $61,253,000 after purchasing an additional 365,283 shares during the period. Institutional investors and hedge funds own 80.02% of the company’s stock.

NTRS opened at $110.89 on Friday. The business’s 50 day moving average is $115.21 and its 200-day moving average is $118.87. The stock has a market cap of $23.06 billion, a PE ratio of 15.55 and a beta of 1.12. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.33. Northern Trust has a twelve month low of $102.39 and a twelve month high of $135.15.

Northern Trust (NASDAQ:NTRS – Get Rating) last released its quarterly earnings results on Thursday, January 20th. The asset manager reported $1.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.09. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Northern Trust had a return on equity of 14.16% and a net margin of 23.82%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.49 earnings per share. As a group, analysts forecast that Northern Trust will post 7.79 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Friday, March 11th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.53%. The ex-dividend date was Thursday, March 10th. Northern Trust’s payout ratio is 39.27%.

About Northern Trust (Get Rating)

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, Corporate & Institutional Services (C&IS) and Wealth Management.

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