Northern Trust (NASDAQ:NTRS) Stock Price Target Raised at JPMorgan Chase & Co.

Northern Trust (NASDAQ:NTRS) had its price target hoisted by JPMorgan Chase & Co. from $185.00 to $191.50 in a research note issued to investors on Friday, Marketbeat.com reports. The firm currently has a neutral rating on the asset manager’s stock.

A number of other equities analysts also recently issued reports on NTRS. Keefe, Bruyette & Woods lifted their price objective on shares of Northern Trust from $157.00 to $175.00 and gave the stock an “underperform” rating in a report on Thursday, July 9th. Royal Bank Of Canada downgraded shares of Northern Trust from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $159.00 to $178.00 in a report on Wednesday, July 22nd. Weiss Ratings lowered shares of Northern Trust from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Bank of America raised their price target on shares of Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, Morgan Stanley boosted their price target on shares of Northern Trust from $173.00 to $177.00 and gave the stock an “underweight” rating in a report on Thursday, October 22nd. Two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $181.03.

Northern Trust Price Performance

NTRS stock opened at $169.16 on Friday. The company has a market capitalization of $30.95 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 0.89 and a beta of 1.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.61. Northern Trust has a 52-week low of $121.53 and a 52-week high of $195.78. The business has a 50-day simple moving average of $175.52 and a two-hundred day simple moving average of $165.29.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, October 21st. The asset manager reported $3.40 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.53. Northern Trust had a return on equity of 17.97% and a net margin of 15.86%. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the company posted $2.29 EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. Research analysts expect that Northern Trust will post 11.95 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 1st. Shareholders of record on Friday, December 4th will be given a $0.88 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $3.52 annualized dividend and a yield of 2.1%. Northern Trust’s payout ratio is currently 27.59%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, EVP Thomas A. South sold 1,800 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $184.90, for a total value of $332,820.00. Following the completion of the transaction, the executive vice president owned 92,917 shares in the company, valued at $17,180,353.30. This represents a 1.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Susan Levy sold 16,984 shares of the firm’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $168.15, for a total value of $2,855,859.60. Following the sale, the executive vice president directly owned 59,378 shares of the company’s stock, valued at approximately $9,984,410.70. This represents a 22.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 22,706 shares of company stock worth $3,850,282. Insiders own 0.66% of the company’s stock.

Institutional Trading of Northern Trust

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Northern Trust in the 2nd quarter worth approximately $2,523,781,000. Primecap Management Co. CA bought a new stake in Northern Trust during the 2nd quarter valued at $1,060,553,000. Bank of New York Mellon Corp bought a new stake in Northern Trust during the 2nd quarter valued at $361,079,000. Dimensional Fund Advisors LP raised its holdings in Northern Trust by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager’s stock valued at $342,744,000 after acquiring an additional 36,322 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Northern Trust by 2.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,500,961 shares of the asset manager’s stock worth $254,203,000 after acquiring an additional 29,490 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

About Northern Trust

Northern Trust Corporation (NASDAQ:NTRS) is a financial services company that provides wealth management, asset servicing, asset management and banking services. The company serves institutional investors, corporations, financial institutions, high-net-worth individuals and families.

Its offerings include custody and administration of investment assets, fund accounting, securities lending, foreign exchange, treasury services, investment management, trust and estate services, private banking and wealth planning.