Northern Trust (NASDAQ:NTRS) Price Target Lowered to $155.00 at Truist Financial

Northern Trust (NASDAQ:NTRS) had its target price trimmed by Truist Financial from $160.00 to $155.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the asset manager’s stock.

A number of other analysts also recently issued reports on NTRS. Wall Street Zen upgraded shares of Northern Trust from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Citigroup initiated coverage on Northern Trust in a research report on Monday, February 23rd. They set a “neutral” rating for the company. The Goldman Sachs Group lifted their target price on Northern Trust from $130.00 to $148.00 and gave the stock a “sell” rating in a report on Wednesday, January 28th. TD Cowen boosted their target price on Northern Trust from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Royal Bank Of Canada increased their price target on Northern Trust from $139.00 to $159.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $151.91.

Northern Trust Stock Up 1.3%

NASDAQ NTRS opened at $141.41 on Wednesday. Northern Trust has a 12 month low of $81.62 and a 12 month high of $157.60. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.57. The stock has a market cap of $26.21 billion, a PE ratio of 16.18, a P/E/G ratio of 1.10 and a beta of 1.23. The stock’s 50 day moving average is $143.74 and its 200 day moving average is $137.06.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Friday, January 30th. The asset manager reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.05. The business had revenue of $3.15 billion during the quarter. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business earned $2.26 earnings per share. Research analysts predict that Northern Trust will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 6th were given a dividend of $0.80 per share. The ex-dividend date was Friday, March 6th. This represents a $3.20 annualized dividend and a yield of 2.3%. Northern Trust’s dividend payout ratio (DPR) is 36.61%.

Insiders Place Their Bets

In other news, COO Peter Cherecwich sold 25,000 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $149.62, for a total value of $3,740,500.00. Following the sale, the chief operating officer directly owned 26,259 shares in the company, valued at $3,928,871.58. The trade was a 48.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard Petrino bought 1,000 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were acquired at an average price of $148.91 per share, for a total transaction of $148,910.00. Following the completion of the transaction, the director directly owned 3,332 shares in the company, valued at approximately $496,168.12. This represents a 42.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 34,905 shares of company stock worth $5,166,714. Insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NTRS. Bank of New York Mellon Corp grew its holdings in Northern Trust by 2.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,947,456 shares of the asset manager’s stock valued at $262,128,000 after purchasing an additional 40,048 shares during the last quarter. iSAM Funds UK Ltd bought a new stake in Northern Trust in the third quarter worth about $2,253,000. Jupiter Asset Management Ltd. bought a new stake in Northern Trust in the third quarter worth about $64,863,000. Swiss Life Asset Management Ltd boosted its position in shares of Northern Trust by 119.9% during the third quarter. Swiss Life Asset Management Ltd now owns 83,175 shares of the asset manager’s stock valued at $11,195,000 after buying an additional 45,356 shares during the period. Finally, Barclays PLC boosted its position in shares of Northern Trust by 62.4% during the third quarter. Barclays PLC now owns 1,042,084 shares of the asset manager’s stock valued at $140,265,000 after buying an additional 400,247 shares during the period. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

About Northern Trust

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.