Northern Trust (NASDAQ:NTRS) PT Raised to $101.00

Northern Trust (NASDAQ:NTRS) had its price target hoisted by Bank of America from $93.00 to $101.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the asset manager’s stock.

Several other equities research analysts also recently issued reports on the company. Morgan Stanley reaffirmed an underweight rating and set a $86.00 price target (up previously from $82.00) on shares of Northern Trust in a report on Tuesday, January 30th. Jefferies Financial Group upgraded Northern Trust from a hold rating to a buy rating and increased their price objective for the stock from $68.00 to $99.00 in a research report on Tuesday, January 9th. Wolfe Research cut Northern Trust from a peer perform rating to an underperform rating and set a $85.00 price objective on the stock. in a research report on Wednesday, January 3rd. Evercore ISI increased their price objective on Northern Trust from $86.00 to $87.00 and gave the stock an in-line rating in a research report on Thursday, April 4th. Finally, Barclays increased their price objective on Northern Trust from $90.00 to $98.00 and gave the stock an equal weight rating in a research report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $84.92.

Northern Trust Trading Up 0.0 %

Shares of Northern Trust stock opened at $81.45 on Wednesday. The business has a fifty day simple moving average of $83.26 and a two-hundred day simple moving average of $78.93. Northern Trust has a 1 year low of $62.44 and a 1 year high of $89.25. The company has a market capitalization of $16.62 billion, a price-to-earnings ratio of 17.98, a P/E/G ratio of 1.17 and a beta of 1.13. 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 (NASDAQ:NTRS) last announced its quarterly earnings results on Thursday, January 18th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.81). Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the business earned $1.65 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Research analysts forecast that Northern Trust will post 6.82 EPS for the current year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Friday, June 7th. Northern Trust’s payout ratio is currently 66.23%.

Insider Buying and Selling

In related news, insider Steven L. Fradkin sold 30,392 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total value of $2,434,703.12. Following the transaction, the insider now owns 55,707 shares in the company, valued at $4,462,687.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NTRS. Spartan Planning & Wealth Management grew its position in Northern Trust by 10,566.7% in the fourth quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 317 shares during the last quarter. Fortitude Family Office LLC bought a new position in Northern Trust in the fourth quarter valued at about $28,000. Quent Capital LLC grew its position in Northern Trust by 77.8% in the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 158 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Northern Trust by 94.1% during the fourth quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 174 shares in the last quarter. Finally, Belpointe Asset Management LLC boosted its stake in shares of Northern Trust by 84.5% during the first quarter. Belpointe Asset Management LLC now owns 393 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 180 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

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.