Analysts Set Northern Trust Corporation (NASDAQ:NTRS) PT at $119.58

Shares of Northern Trust Corporation (NASDAQ:NTRS) have been assigned an average recommendation of “Reduce” from the fourteen brokerages that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $119.5833.

A number of analysts have issued reports on NTRS shares. Zacks Research downgraded Northern Trust from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Wolfe Research raised Northern Trust from an “underperform” rating to a “peer perform” rating in a research report on Thursday, July 24th. Wells Fargo & Company raised their target price on Northern Trust from $111.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. Truist Financial raised their target price on Northern Trust from $128.00 to $132.00 and gave the stock a “hold” rating in a research report on Thursday, August 14th. Finally, Citigroup raised their target price on Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th.

Insider Transactions at Northern Trust

In related news, Director Robert Edward Jr. Moritz purchased 256 shares of the business’s stock in a transaction dated Wednesday, August 13th. The stock was purchased at an average cost of $126.34 per share, with a total value of $32,343.04. Following the completion of the acquisition, the director directly owned 2,525 shares of the company’s stock, valued at approximately $319,008.50. The trade was a 11.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Northern Trust

A number of large investors have recently made changes to their positions in NTRS. Janus Henderson Group PLC boosted its holdings in shares of Northern Trust by 33.7% in the fourth quarter. Janus Henderson Group PLC now owns 33,779 shares of the asset manager’s stock worth $3,462,000 after acquiring an additional 8,522 shares during the period. Nomura Holdings Inc. bought a new position in shares of Northern Trust in the fourth quarter worth $669,000. Man Group plc boosted its holdings in shares of Northern Trust by 79.8% in the fourth quarter. Man Group plc now owns 113,365 shares of the asset manager’s stock worth $11,620,000 after acquiring an additional 50,317 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Northern Trust by 9.4% in the fourth quarter. ProShare Advisors LLC now owns 57,212 shares of the asset manager’s stock worth $5,864,000 after acquiring an additional 4,926 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of Northern Trust by 60.2% in the fourth quarter. Royal Bank of Canada now owns 1,497,484 shares of the asset manager’s stock worth $153,493,000 after acquiring an additional 562,976 shares during the period. 83.19% of the stock is owned by institutional investors.

Northern Trust Stock Performance

Shares of NTRS opened at $132.22 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $25.28 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.54 and a beta of 1.30. The stock has a 50 day moving average of $128.21 and a 200 day moving average of $112.19. Northern Trust has a 12 month low of $81.62 and a 12 month high of $133.00.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.05. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%.Northern Trust’s revenue was down 26.4% on a year-over-year basis. During the same period last year, the business posted $4.34 earnings per share. As a group, sell-side analysts forecast that Northern Trust will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be given a $0.80 dividend. This is an increase from Northern Trust’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 5th. Northern Trust’s dividend payout ratio (DPR) is 37.60%.

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.